Dollar appreciates sharply, posing economic challenges
The Maldivian economy is facing a significant challenge as the US dollar has experienced a rapid surge in value against the Maldivian Rufiyaa (MVR). Recent reports indicate that the dollar is now trading at an alarming rate of MVR 18.30 per dollar in the black market, up from MVR 17.40 per dollar just a week […]
Maldives tourism faces steep decline in Q2; hints at signs of recovery in Q3
The Maldives tourism sector experienced a significant downturn in the second quarter of 2023, according to the recently published Quarterly Business Survey by the Maldives Monetary Authority (MMA). The survey, which covered the period from April to June, revealed a sharp decline in key indicators, underscoring the challenges faced by tourism businesses amid an uncertain […]
Declining state revenue: What it means for Maldives’ hospitality industry
Maldives, renowned for its picturesque beauty and thriving tourism sector, is currently facing significant challenges due to a decline in state revenue, especially from dividends paid by state-owned enterprises (SOEs) and a decrease in fees and taxes generated by the tourism sector. This article examines the latest state revenue and expenditure data, highlighting the implications […]
Maldivian commences flights to Fuzhou
The Maldives’ national airline has commenced weekly flights to Fuzhou, the capital city of Fujian Province in China.
