Connect with us

Business

Tourist arrivals reach the half-million mark

Avatar

Published

2 years ago

on

Ministry of Tourism has revealed that the number of tourist arrivals recorded so far this year has reached the half-million mark.

The tourism ministry stated tourist arrivals to the Maldives crossed the half-million mark on April 14, with the UK leading the markets for the first time ever in the Maldivian tourism history. The ministry congratulated and thanked all stakeholders who contribute to and support the industry.

The statistics from the tourism ministry show 555,494 tourists visited the Maldives as of April 14, which is an increase compared to the 300,000 tourist arrivals recorded in the same period last year. The statistics show a total of 131,764 arrivals were recorded in January, 149,008 arrivals were recorded in February, and 150,739 arrivals were recorded in March.

The highest number of tourists visited the Maldives from the UK this year with 13.2% of the market share, with the second-highest being Russia with 10.9% of the market share arrivals. India is the third-largest source market with 10.9% of the market share. A daily average of 4,842 tourists visit the Maldives and spend an average of eight days on holiday.

The government is holding events throughout 2022 to celebrate the Golden Jubilee of the Maldives Tourism this year. The tourism ministry and stakeholders of the tourism industry are working to register 1.6 million tourist arrivals this year.

 

Source: psmnews

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Business

MIB signs an agreement to expedite business registration process

FI

Published

45 mins ago

on

04/05/2024

By

Ministry of Economic Development and Trade and the Maldives Islamic Bank (MIB) has entered an agreement, aiming to expedite and streamline the registering services for businesses. The agreement was signed to enhance the quality of services, ensure information security, and facilitate an efficient registration process.

Following the signing of the agreement, Minister of Economic Development and Trade Mohamed Saeed disclosed that customer data can be readily verified with the assistance of the ministry’s Application Programming Interface (API). The minister stated that this would enable businesses to set up bank accounts in a convenient manner. Regarding this, Registrar of Companies Mariyam Waheed underscored the pivotal role API will play in authenticating businesses to customers and expediting in the verification process.

This initiative will significantly benefit individuals accessing online services from the ministry, fostering economic development within the nation. This marks the first agreement of its kind signed by the ministry.

Continue Reading

Business

MTCC reports staggering 82.9% net profit drop

FI

Published

3 days ago

on

01/05/2024

By

Maldives Transport and Contracting Company (MTCC) has reported a staggering 82.9% net profit decline for Q1-2024.

According to MTCC, it earned just MVR 5.2 million in net profit for the review quarter, which came down from MVR 30.8 million in the last quarter of 2023.

The company’s revenue for Q1-2024 stood at MVR 664.4 million, which is a 15.8% drop from MVR 789.2 million generated in the Q4-2023.

Moreover, MTCC reported a whopping 94.5% decline in its Gross Profit for the review quarter, registering MVR 2.5 million in Q1-2024 compared to MVR 44.3 million.

The operating profit for the review quarter stood at MVR 41.8 million, which is a 26% drop from MVR 56.5 million in Q3-2023.

The net asset value per share dropped from MVR 227.95 in Q4-2023 to MVR 226.98 to Q1-2024, while earnings per share saw a notable decline from MVR 3.83 in the preceding quarter to just MVR 0.65 in the review quarter.

Source(s): sun.mv

Continue Reading

Business

STO opens showroom in Hulhumale’

FI

Published

1 week ago

on

24/04/2024

By

State Trading Organization (STO) has opened a showroom specialized for construction in Hulhumale’.

The showroom was inaugurated by Construction Minister Dr. Abdulla Muthalib during a special ceremony held on Tuesday night.

Speaking at the ceremony, STO’s Managing Director Shimad Ibrahim stressed the role of the company’s former managements and board members in carrying forward the company and therefore extended them gratitude.

Situated at the same location as STO’s Hulhumale’ shop – next to STO’s Smart Store near Hulhuamle’ Hospital – the construction solutions showroom was opened following renovations up to modern standards.

STO reports that all construction-related products sold by the company will be available at the showroom including some of the most renowned brands sold by the company; Makita tools, Nippon paint and concrete from prominent mix designing brands among others.

The state-owned company is prominent in the local construction industry as STO’s constructions solutions is the largest importer and seller of construction-related products in the Maldives.

STO noted that customers can now place orders for construction-related products including Makita tools and Nippon paint via the Hulhumale’ showroom which would eliminate the need to travel to Male’ to make the purchases. Arrangements have been made in the showroom to prepare the colors of Nippon paint ordered by the customers on demand.

Henceforth, they attributed the opening of the new showroom as something which would bring easements to the lives of Hulhumale’ residents and construction industry partners operating in the suburb.

Source(s): sun.mv

Continue Reading

Trending