Atmosphere Core is expanding in South Asia, taking over Kudakurathu island in The Maldives’ Raa Atoll. launching as ‘RAAYA BY ATMOSPHERE’ on July 4, 2024, it will be the third Maldivian and ninth global resort under Atmosphere Hotels and Resorts, highlighting its growing international presence.

London, England, United Kingdom – March 15, 2024 —

Since debuting its inaugural resort in December 2013, Atmosphere Core has swiftly risen to prominence in The Maldives for its unparalleled service, culinary innovation, and unique experiences, earning its status as a top choice within the Maldivian luxury hospitality market. ‘RAAYA BY ATMOSPHERE,’ just a 45-minute seaplane journey from Velana International Airport, epitomises sustainable luxury with 88% of its area dedicated to preserving the natural environment, offering minimalistic yet luxurious living spaces amidst lush greenery.

Salil Panigrahi, Managing Director of Atmosphere Core, states, “As our group continues at pace with ambitious strategic plans, by adding ‘RAAYA BY ATMOSPHERE’ to our growing portfolio in the Maldives, aims to further enhance our Atmosphere Hotels & Resorts brand position of ‘…A New Experience Awaits’.

“Providing even more choices for our guests, we will include curating a signature RAAYA™ Holiday Plan that blends in all the elements of a tropical island escape. These elevated guest experiences will be delivered with an unparalleled level of service at every touch point. I am confident that our group’s ‘Joy Of Giving’ ethos will resonate with discerning global travellers and ensure remarkable success.”

Nestled in the heart of The Maldives, a paradise known for its stunning turquoise waters and vibrant marine life, ‘RAAYA BY ATMOSPHERE’ emerges as a jewel accessible via a scenic 45-minute seaplane flight from Velana International Airport. This sanctuary dedicates 88% of its landscape to lush verdure, showcasing a commitment to environmental stewardship and preserving the island’s natural beauty, with only 12% allocated for luxurious living spaces.

With 167 beach and ocean villas, ‘RAAYA BY ATMOSPHERE’ offers a harmonious blend of local Maldivian tradition and global culinary delights across six diverse dining venues. The resort promises an array of adventures and relaxation opportunities: from water sports and diving that let you explore the rich biodiversity of the Maldivian seas to family-friendly activities including a kids club, an art and craft studio, and a mini-golf course. Guests can also enjoy serene walks along a mangrove pathway, gaze at the stars from three watchtowers, or unwind in a spa nestled in tranquility.

The hotel opening of the RAAYA BY ATMOSPHERE underlines the increased number of bookings to The Maldives globally but will be of particular interest to consumers from the UK booking Maldives holidays.

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In early 2024, the Maldives saw a record-breaking 14.84% increase in tourist arrivals compared to the same period last year, as per the Ministry of Tourism’s latest data, highlighting the country’s growing appeal as a top travel destination.

London, England, United Kingdom – March 15, 2024 —

The Maldives has seen an unprecedented surge in tourist arrivals in the early months of 2024, with a notable 14.84 percent increase compared to the same timeframe last year. This statistic was confirmed by the latest data from the Ministry of Tourism, which highlighted the growing popularity of the island nation as a premier vacation destination. Specifically, from January through February 2024, the ministry tallied 409,777 tourists, showcasing a significant rise from the 350,414 tourists who visited during the corresponding period in 2023.

February 2024 marked a milestone for the Maldivian tourism sector as it welcomed over 200,000 tourists in a single month for the first time, setting a new record. The total tally for tourist arrivals in February stood at 217,392, reflecting a 22.2 percent increase year-on-year, compared to 177,915 in February 2023. By March 3rd, the cumulative tourist count for the year had reached 431,002, underscoring the Maldives’ enduring appeal and its successful appeal to international travellers.

The surge in tourist arrivals to the Maldives becomes even more remarkable considering the decline in visitors from India, traditionally one of the island nation’s largest tourist markets. Despite this decrease, the Maldives has not only maintained but significantly increased its overall tourist numbers, highlighting its broadening appeal and success in attracting travelers from a diverse range of countries, choosing the Maldives over other destinations.

The Maldives has witnessed an impressive surge in tourist arrivals in the early segments of 2024, illustrating the island nation’s expanding allure amidst a global audience seeking idyllic Maldives holidays. This remarkable growth, marked by a 14.84 percent increase compared to the same period in the previous year, is a testament to the enduring charm of Maldives hotels and resorts. Data released by the Ministry of Tourism reveals that from January through February 2024, the Maldives welcomed 409,777 visitors, significantly surpassing the 350,414 tourists during the equivalent timeframe in 2023.

February 2024 emerged as a landmark month for the tourism sector of the Maldives, recording an unprecedented influx of over 200,000 tourists, a first in the history of Maldives all-inclusive vacations. The total number of visitors for February stood at 217,392, indicating a year-on-year increase of 22.2 percent from February 2023’s 177,915 tourists. This surge in arrivals, despite a noted decrease in tourists from India, underscores the Maldives’ success in positioning itself as a top-tier destination for Maldives packages and resort experiences, attracting a diverse and international clientele.

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Tourism Minister Ibrahim Faisal declared the Maldives’ bid to host ITB Berlin in 2026, aiming to elevate its worldwide tourism presence. The event traditionally takes place in Germany but allows other countries the chance to host, providing a platform to highlight their distinct tourism attractions.

London, England, United Kingdom – March 15, 2024 —

Tourism Minister Ibrahim Faisal recently unveiled the Maldives’ ambitious plan to host the 2026 Internationale Tourismus-Börse Berlin (ITB Berlin), with the goal of enhancing its position on the global tourism map. ITB Berlin stands as the world’s foremost tourism trade fair, annually attracting thousands of visitors, exhibitors, and industry experts to Germany. Recognized for setting international travel trends and facilitating countless business deals, ITB Berlin occasionally opens its doors for other countries to host, providing an unparalleled platform for nations like the Maldives to highlight their exceptional tourism assets and cultural heritage to a global audience.

This year, Oman took center stage at the ITB Fair, with the Maldives, represented by the Maldives Marketing and Public Relations Corporation (MMPRC) and its tourism ministry, leaving a notable mark through the participation of 107 co-exhibitors from the Maldives holidays and tourism sector.

Following his trip to Berlin, Faisal shared his positive outlook on the Maldives’ chances to host ITB Berlin in 2026. This optimism stems from the Maldives being named the ‘World’s Leading Destination’ for the fourth year in a row at the World Travel Awards, highlighting its premier status in the global travel and Maldives holidays market.

Faisal highlighted the significant opportunity hosting the fair would offer for promoting Maldives resorts and Maldives all-inclusive packages as a prime tourism destination. He mentioned, “The entire MMPRC team, along with stakeholders, will start preparations for hosting the ITB fair in 2026. Given the financial benefits of hosting the ITB Fair, I am confident that with unified efforts, we will succeed.”

The selection for the ITB Berlin Fair host involves a detailed process, starting with countries showcasing their interest to the organizers, often through their tourism ministries. This step is followed by thorough discussions on logistical and organizational matters, where the potential host must illustrate its capability to manage significant event responsibilities, including the opening ceremony and various event activities.

The choice of host country is influenced by its tourism status and how well it presents its tourism sector, with these elements critically impacting the selection. The competitive nature of this process necessitates countries to present compelling cases to secure the hosting rights, emphasising the global recognition and promotional opportunities that come with events like ITB Berlin for destinations like the Maldives.

ITB Berlin this year was attended by TheMaldives.co.uk hotel and resorts team who offered support for the bid to host ITB Berlin in The Maldives in 2026

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Ex-Finance Minister Ibrahim Ameer has spotlighted potential errors in President Mohamed Muizzu’s claim that only parliament holds the power to raise salaries and allowances for local council administrative staff.

London, England, United Kingdom – March 15, 2024 /MarketersMEDIA/ —

In a recent development within The Maldives, former Finance Minister Ibrahim Ameer has addressed inaccuracies in statements made by President Mohamed Muizzu concerning the pay rise for local council staff. During a session of President Muizzu’s ‘Raeesge Javaabu’ series, aimed at engaging with citizens, a question was raised about the salary adjustments for administrative staff within local councils of The Maldives, to which President Muizzu attributed the authority solely to the parliament.

Countering the President’s statement, Ibrahim Ameer highlighted that, in fact, it is the National Pay Commission that is tasked with determining the salaries for local council administrative staff across The Maldives, contradicting the assertion of parliamentary exclusivity. “Administrative personnel at local councils are classified as civil servants, and their remuneration is established by the National Pay Commission, following a specific pay matrix and framework,” Ameer clarified.

Further elaborating on the matter, President Muizzu mentioned the Decentralisation Act, indicating the structural classification of local councils within the state as a significant hurdle for salary enhancement. He insisted that addressing this challenge necessitates a unified effort within the parliamentary framework of The Maldives.

However, Ameer argued that this stance misinterprets the objectives of the Decentralisation Act of 2010, which sought to decentralize power and fortify local councils despite obstacles. The administration under President Ibrahim Mohamed Solih had prioritized the decentralization and empowerment of local councils, aiming to reinforce their autonomy within The Maldives.

Amidst this discourse, President Muizzu has reiterated his commitment to augmenting the salaries of civil servants throughout The Maldives, noting that any proposed adjustments will be made in consideration of the country’s fiscal situation.

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In a significant move towards sustainability, the Maldives inaugurates its pioneering micro-grid seawater desalination plants on Kaashidhoo Island, Kaafu Atoll. This landmark project, supported by a grant from the Chinese government, marks a milestone in the nation’s renewable energy journey.

London, England, United Kingdom – March 15, 2024 —

In a landmark move for sustainable development, The Maldives has officially launched its first micro-grid seawater desalination plants across five islands, marking a significant step forward in the nation’s renewable energy journey. Supported by grant aid from the Chinese government, this initiative underscores the Maldives’ commitment to sustainable development and energy security. The inauguration ceremony, held on Kaashidhoo Island, Kaafu Atoll, featured dignitaries including the Chinese Ambassador to the Maldives, Wang Lixin, and the Maldives’ Minister of Construction and Infrastructure, Dr. Abdulla Muththalib.

The newly installed desalination plants, located on Kaashidhoo Island, Olhuvelifushi Island in Lhaviyani Atoll, Alifushi Island in Raa Atoll, Kelaa Island in Haa Alifu Atoll, and Dhaandhoo Island in Gaafu Dhaalu Atoll, exemplify the Maldives’ strides towards integrating renewable energy solutions. Ambassador Wang highlighted the project’s potential to revolutionize the energy landscape for the island communities, aligning with President Mohamed Muizzu’s energy development goals.

Ambassador Wang shared, “Very happy to see the operational windmill in The Maldives, a prime example of green and sustainable development. We anticipate further fruitful cooperation in the renewable energy sector.”

Minister Muththalib stressed the importance of diversifying The Maldives‘ renewable energy portfolio beyond solar power, highlighting renewable sources’ pivotal role in ensuring energy security and sustainable electricity production. “While solar energy remains a cost-effective solution, our future energy security depends on embracing a broader spectrum of renewable sources. The success in Kaashidhoo inspires us to expand wind energy projects across the Maldives,” said Muththalib.

The project’s completion sees the five islands’ desalination plants producing 200 tonnes of desalinated water daily, powered by 200 kilowatts of solar energy. Additionally, Kaashidhoo Island’s plant boasts a wind turbine generating an extra 100 kilowatts of wind energy, showcasing the Maldives’ dedication to leveraging diverse renewable energy sources.

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The Maldives Association of Travel Agents and Tour Operators recently published data forecasting a rise in tourism revenue, indicating good economic growth for the Maldives. Yet, an underlying issue emerges as much of this revenue does not re-enter the local economy, intensifying a dollar shortage.

London, England, United Kingdom – March 15, 2024 —

The Maldives Association of Travel Agents and Tour Operators (MATATO) has unveiled data predicting a considerable rise in tourism revenue within the Maldives, heralding a period of substantial economic growth for the nation. Despite the positive forecast, which anticipates the Maldives’ state revenue from tourism hitting US$1.02 billion in 2024, thanks to a 77 percent occupancy rate across 61,518 beds and an 11.6 percent increase in tourist arrivals, an urgent issue has come to light: a significant share of this tourism revenue is not being cycled back into the Maldives’ local economy, thus aggravating an existing dollar shortage crisis.

This escalating dollar shortage is impeding The Maldivian banks’ capacity for processing international transactions and is further exacerbating challenges for Maldivian students abroad, awaiting the fulfilment of promises to enhance USD transaction limits. MP Ahmed Easa, during an October 2024 parliamentary debate, underscored that although the Maldives garners an estimated US$4-5 billion yearly from tourism, under 20 percent of this sum is re-injected into the Maldivian economy. The crux of this issue lies in the tendency of resort owners or operators to remit a bulk of room sale revenues to overseas accounts.

In response, Easa has proposed a series of legislative reforms aimed at ensuring a larger portion of foreign exchange earnings remains within the Maldives. These reforms suggest obligating businesses to deposit their foreign currency income into Maldivian banks prior to any foreign remittance and instituting a mandatory period for retaining foreign currency in local banks as strategies to prevent the swift outflow of funds.

Recognizing the detrimental effects of inadequate foreign currency retention, President Mohamed Muizzu has pledged to enact legal and regulatory adjustments to guarantee that a more substantial part of the dollar revenue generated from tourism circulates within the Maldivian financial ecosystem.

In light of these developments, MATATO has expressed grave concerns regarding the persistent dollar shortage, emphasizing the critical need for swift administrative measures to fortify the Maldivian economy and alleviate the negative impacts on both the tourism industry and the broader economic framework of the Maldives. The association’s demand for prompt action underscores the pivotal juncture at which the Maldivian executive and regulatory entities must act to ensure the forecasted increase in tourism revenue yields tangible enhancements for the Maldivian local economy.

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Minister of Tourism Ibrahim Faisal launched the Addu Coastal Tourism Development Plan on Thursday, aiming to add 6,000 tourist beds and a seaplane hub, aligning with President Mohamed Muizzu’s Week 14 roadmap.

London, England, United Kingdom – March 15, 2024 —

The Ministry of Tourism of The Maldives is thrilled to announce the official launch of the Addu Coastal Tourism Development Plan by the Honourable Minister of Tourism, Ibrahim Faisal. This groundbreaking project, integral to President Mohamed Muizzu’s Week 14 roadmap, is poised to dramatically transform the tourism landscape and economic prospects of Addu, enhancing the broader Maldives tourism offering.

Crafted by CDC Consulting, this strategic blueprint aims to bolster Addu’s allure as a prime destination within the southern Maldives by developing 6,000 new tourist beds and inaugurating a seaplane hub. These efforts are in direct alignment with the President’s vision for the Maldives, including the creation of 10,000 jobs and the reactivation of the esteemed Shangri-La Resort.

The plan further proposes the creation of a cultural village, wellness zones, marine protected areas, and a pioneering hospitality school, all aimed at enriching the cultural and natural experiences for visitors to Addu. These initiatives underscore The Maldives’ commitment to showcasing its rich heritage and pristine environments to the world.

The Ministry of Tourism views the Addu Coastal Tourism Development Plan as a pivotal advancement in The Maldives‘ tourism sector. It signifies a commitment to fostering sustainable development and inclusive economic growth, promising a bright and thriving future for both Addu and the wider Maldivian community, and setting a precedent for innovative tourism development across the region.

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The Ministry of Economic Development and Trade reported that the Invest Maldives Forum 2024, hosted in Dubai, United Arab Emirates on Tuesday, attracted 290 delegates from 130 companies, highlighting its success in drawing significant international interest.

London Borough of Lambeth, England, United Kingdom – March 15, 2024 —

The Ministry of Economic Development and Trade proudly announces the successful hosting of the Invest Maldives Forum 2024 in Dubai, United Arab Emirates. The event, which took place on Tuesday, witnessed the participation of 290 delegates from 130 companies, demonstrating the global business community’s growing interest in investment opportunities within The Maldives.

President Mohamed Muizzu graced the forum as the guest of honour, alongside key figures such as Economic Minister Mohamed Saeed, Foreign Minister Moosa Zameer, and Environment Minister Thoriq Ibrahim. Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development (ADFD), also attended, marking the event’s significance and the strong bilateral ties between the Maldives and the UAE. The forum, organized by the Ministry of Economic Development, aimed at fostering stronger relations between the Maldivian government and the international business sector.

Participants from diverse industries including ports management, logistics, renewable energy, real estate, tourism, and construction gathered to explore the Maldives‘ potential as a prime investment destination. President Muizzu shared his vision of ‘Dhivehinge Rajjé’ (Maldivians’ Nation), emphasizing the strategic use of Maldivian resources for national development and the pivotal role of international partnerships in achieving this goal.

Expressing gratitude towards the UAE business community for their pivotal contributions to the Maldives‘ development, President Muizzu highlighted the importance of ongoing collaboration. The forum concluded with an interactive networking session, facilitating dialogue between participants and Maldivian officials on key developmental issues and economic prospects. This session not only strengthened Maldives-UAE relations but also opened avenues for new trade and investment opportunities.

Coinciding with President Muizzu’s attendance at the World Governments Summit in Dubai, the Invest Maldives Forum mirrors a similar initiative held in China earlier this year, underscoring the Maldives’ proactive approach to international engagement and economic diversification.

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The International Monetary Fund (IMF) projects a 5% growth in the Maldives’ economy for this year, following an 8.1% increase last year, as detailed in its Global Economic Outlook.

London, England, United Kingdom – March 15, 2024 —

In its latest Global Economic Outlook, the International Monetary Fund (IMF) has forecasted a promising 5% growth for the Maldives’ economy this year, following a robust expansion of 8.1% in the previous year. This positive trend places the Maldives on par with the economic growth trajectories of other developing countries, including Sri Lanka, which is anticipated to grow by 4.8%.

Contrasting these figures, the Maldives Monetary Authority (MMA), the nation’s central bank, predicts an even higher growth rate of 5.5% for 2024. The current Maldivian administration is more optimistic, projecting a 6.7% economic surge.

The IMF report also outlines expectations for inflation in the Maldives to decrease to 2.4% this year, while the current account balance is projected to improve, albeit remaining in deficit at minus 13% — highlighting the nation’s dependency on imports.

Regionally, India is slated for the most significant growth at 6.3%, with Bangladesh and Nepal expected to see their economies expand by 6% and 5%, respectively. These forecasts underscore the diverse economic dynamics within the region.

Globally, economic growth is expected to slow to 2.9% in 2024 from 3% last year, with developed economies anticipated to grow by approximately 1.4%. The report highlights a gradual recovery from the pandemic-induced economic downturn, with global inflation projected to decrease to 5.8% this year, marking a 1.1% reduction from the previous year.

The IMF’s projections for the Maldives and the broader global economy underscore the ongoing recovery efforts from the COVID-19 pandemic, signalling cautious optimism for the future.

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In its latest Quarterly Business Survey Report, the Monetary Authority of Maldives (MMA) highlighted a notable increase in employment opportunities within the tourism sector during the final quarter of 2023, signaling growth and vitality in the industry.

London, England, United Kingdom – March 15, 2024 —

The Monetary Authority of Maldives (MMA) has released its latest Quarterly Business Survey Report, revealing a significant uptick in employment within The Maldives tourism industry during the final quarter (Q4) of 2023. The report, which evaluates the current economic status and forecasts future trends across four critical sectors—tourism, construction, transport and communications, and wholesale and retail industries—showcases the robust growth of tourism during the peak season, evidenced by increased resort bookings and revenue.

Specifically, the MMA’s findings indicate a substantial rise in job opportunities within the tourism sector for Q4, with the employment index soaring from 13 to 60 points, alongside notable salary increments for tourism professionals. This growth contrasts with the stagnation observed in the construction and transport sectors, and a decline in employment within the wholesale sector, highlighting tourism as a driving force behind The Maldives‘ economic expansion during this period.

While The Maldives‘ main industries demonstrated growth in Q4 of 2023, the construction and wholesale trade sectors faced challenges, underscoring the varied economic dynamics within the nation.

Since its inception in 2013, the MMA’s Quarterly Business Survey aims to inform policy-making by shedding light on imminent and existing economic shifts on a short-term basis. The publication of these reports every quarter continues to serve as a vital tool for understanding and navigating The Maldives’ economic landscape.

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