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Halal Tourism- the next step in tourism for the Maldives?

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3 years ago

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According to Global Muslim travel index 2019 there was an estimate of 140 million Muslim travelers in 2019 worldwide while the number was only 131 million on 2017, and it was estimated that Muslim travelers will spend up to $300 billion globally by 2026 making halal tourism a major market for tourist destinations.

Halal tourism is growing in a fast pace and competition by Muslim and non-Muslim countries is growing to win this market. According to the to Global Muslim travel index 2019 Malaysia and Indonesia are the market leaders although non-Muslim nations such as Singapore and UK are not far behind them.

Given the numbers and forecasts in 2021 the Maldives is also expected to enter the race. A recent campaign was announced in partnership with “Have Halal, Will Travel “ to promote halal tourism to the south east Asian markets. Throughout the campaign Maldives will be promoted as a destination perfect for Muslim travelers with the availability of Halal Food  and ease of access to prayer rooms and mosques.

Maldives being a 100% Muslim country and having a world class tourism industry gives it an edge over other destinations to win over this market. The already proven one island one resort concept is expected to attract Muslim tourists where they can enjoy the white sandy beaches in line with the principles of Islam.

Moreover this campaign will showcase Maldives as a destination that will cater for everyone although Maldives is labeled as high end market, today budget tourists also have the opportunity to enjoy the natural beauty and serenity of the paradise on earth.

The Maldives Marketing and PR Corporation is yet to officially launch any global campaign announcing halal tourism in the Maldives, but it is expected that their current efforts to penetrate the Middle Eastern market will lead to the launch of halal tourism in the Maldives in the coming years.

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Business

MIB signs an agreement to expedite business registration process

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14 hours ago

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04/05/2024

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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.

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MTCC reports staggering 82.9% net profit drop

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4 days ago

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01/05/2024

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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

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STO opens showroom in Hulhumale’

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Published

2 weeks ago

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24/04/2024

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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

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