Connect with us

Business

Maldives to incentivise guesthouses via new SME bank

Published

on

A financing company will soon be established under the administration’s policy on promoting local tourism in the Maldives, President Ibrahim Mohamed Solih announced Saturday.

Speaking at the closing ceremony of the Maldives Guesthouse Symposium 2018 held at the main convention centre of Dharubaaruge in capital Male, President Solih said the SME Financing and Development Corporation (SFDC) will be created with the shareholding of the government. It will be the first of its kind bank in the Maldives with the shareholding of city councils as well, he added.

The president stressed that SFDC would be first established as a financial institute which does not take deposits, but that it would be changed to a depository company later on. Financial and professional assistance would be provided to guesthouse businesses through this company, with loans to be issued from February 2019, he said.

“The bank will contribute in generating more wealth and ensuring economical sustainability of the Maldivian people,” the president said.

On a different note, President Solih shed light on the fact that tourism industry accounts for 70 per cent of the Maldivian economy and stated the importance of further developing the industry in order to achieve economic feasibility and individual growth.

The president underscored the high priority accorded to ensuring that all Maldivian citizens can enjoy the true benefits of tourism rather than a handful of business leaders. Tourism ministry was in the process of revising the necessary rules and regulations, he said.

President Solih highlighted that broadening tourism promotion to encompass guesthouse businesses is part of the first 100-days goals of his administration. He noted that the Maldives should not only be promoted as a luxury destination, and said that the middle-class market must be advertised as well.

“Guesthouse businesses are not currently being regulated properly, despite the rapid rate at which the business has expanded to all parts of the country. This could only be achieved by decentralising tourism management and making local councils the main powerhouse of guesthouse businesses,” the president said.

Held as part of the new government’s first 100-day pledges, the Maldives Guesthouse Symposium 2018 took place at the main convention centre of Dharubaaruge in capital Male. The one-day forum was attended by tourism minister Ali Waheed and top officials of relevant authorities along with representatives from 340 guesthouses located across the Maldives.

The main objective of the symposium is to create a platform for guesthouse operators and relevant government authorities to come together and discuss issues and constraints, providing strategic directions for sustainable development of guesthouse sector, which support environmentally sensitive business operations, whilst protecting the cultural and natural heritage of the island in providing maximum economic and social benefits to the local people.

The symposium recognises the need for sustainable development of the rapidly growing guesthouse sector of the Maldives, as well as the government’s commitment to identify and address issues and challenges faced by guesthouse operators and island communities.

Maldives, known world over for its upmarket tourism industry, has resorts in the hundreds spread across the archipelago. The industry has in recent years expanded to introduce more affordable segments, including guesthouses and liveaboards. Some 500 guesthouses have started operations over the past five years as the number of travellers that choose to stay in guesthouses rise.

Events

Maldives Association of Tourism Industry (MATI) holds its 34th Annual General Meeting

Published

on

The Maldives Association of Tourism Industry (MATI) held its 34th Annual General Meeting at Kurumba Maldives today, with a total of 100 members in attendance. 

The day’s events began with a welcome address from the Chairman of MATI, Mr. Mohamed Umar, who also presided over the session. The agenda included an address from the Secretary General, Mr. Ahmed Nazeer, the review and approval of the minutes of the 33rd AGM, the review and adoption of the Annual Report and Financial Reports for 2023, the approval of the 2024 budget, the appointment of auditors for 2024, the welcoming of new members and election of executive board members to the two vacant positions (by-election).

In the member discussion session, the following topics were covered: the Government’s aim to reach net-zero emissions by 2023 and renewable energy generation in the Tourism Industry, new terminal of Velana International Airport and developments, employment challenges, the Industrial Relations Act and trade unions, environmental conservation and the significance of creating and executing efficient management plans for protected areas like the South Ari Marine Protected Area (SAMPA).

Following the official proceedings, the Minister of Tourism Hon. Ibrahim Faisal and the Minister of Economic Development and Trade Hon. Mohamed Saeed joined the forum. The Ministers provided remarks and engaged in a Member Q&A session. This session provided members with the chance to directly engage with the Ministers and delve into crucial industry topics. The queries focused on the Economic Outlook, forthcoming development plans and  immediate challenges and issues affecting the Tourism Industry.

A video presentation was also showcased that delved into the extensive work undertaken by MATI in 2023. The video also touched upon the Tourism Industry’s performance over the past 5 years, as well as the current and projected human resource capacity of the sector.

In his closing remarks, the Secretary General highlighted the importance of collaborative efforts in addressing industry challenges and called for greater unison amongst industry stakeholders, ending with an acknowledgement of the promising start to the year in terms of arrivals.

Executive Board Members elected to the 2 vacant positions (by-election):

  1. Ibrahim Shareef, CEO and Managing Director of Maldives Airports Company Limited
  2. Renato De Olivera, General Manager of The Ritz-Carlton Maldives, Fari Islands and representative of Marriott International
Continue Reading

Business

Unlocking power of travel storytelling at Travel Creators Exchange 2024

Published

on

Join us for the Travel Creators Exchange 2024, taking place on February 1, 2024, at the Hotel Jen in Male’, Maldives.

This dynamic event provides a platform for networking and collaboration among Maldives-based travel creators, fostering connections, idea-sharing, and the establishment of lasting partnerships to expand opportunities and monetise content.

Our lineup of distinguished speakers includes:

  • Zihuny Rasheed, Deputy Managing Director of MMPRC, will present on “Power of Digital Storytelling: Collaborative Strategies for Destination Promotion.” MMPRC actively markets the Maldives globally, utilising a comprehensive approach that includes travel trade shows, roadshows, digital marketing, and more.
  • Amjad Thaufeeg, Commercial Director of Kuda Villingili Maldives Resort, brings over 23 years of hospitality industry experience. He will discuss “The Role of Content in Tourism Marketing,” drawing on expertise in revenue, customer service, sales & marketing, and human capital development.
  • Suresh Dissanayake, Assistant Vice President of Sales & Marketing of Heritance Aarah & Adaaran Resorts, with nearly two decades of experience, will shed light on “What does a Sales and Marketing Director Do?” He brings extensive luxury hospitality experience and a proven track record in sales, distribution, and marketing.
  • Vishal Amir Ahmed, a versatile cinematographer and content creator, will explore “Who is a Content Creator.” Currently associated with Various Arts Studio, he specialises in providing multimedia solutions to various clients.

Organised by Maldives Insider, Maldives Virtual Tour, Travel Trade Maldives, and Hotelier Maldives, this collaborative effort aims to empower Maldives-based travel content creators and elevate the Maldives as a premier destination for captivating travel storytelling.

Continue Reading

Events

Acclaimed contemporary artist Ana Pušica explores perpetuality and community at Patina Maldives

Published

on

Ana Pušica Kramer, an internationally  acclaimed contemporary artist, joins Patina Maldives for an exclusive  art residency in the now infamous Fari Art Atelier. From January 22 to  February 22, 2024, Ana Pušica will grace the shores of the Fari Islands,  weaving a vibrant narrative of colour and emotion across her larger  than-life canvases. 

Her artistry transcends boundaries, melding abstraction and figuration into awe-inspiring masterpieces. Having exhibited globally, from New York to Beijing, Ana’s paintings are a physical, intuitive act rooted in movement.  Described as a “beautiful fluorescent thunderstorm,” Ana’s art explores light and colour, capturing the energy of life itself. 

The Fari Art Atelier which has previously hosted the likes of Daniel Arsham, Chris Stamp and David Nott, will be transformed into Ana’s studio and gallery showcasing her enthralling artworks—a mesmerising journey through poetry, memory, and the vibrant interplay of colour. Guests at Patina are invited to delve into Ana’s world, where each stroke reveals layers of meaning, evoking sensations of intense lightness and boundless interpretation. 

At Patina Maldives, Ana will immerse herself in a month-long residency, inviting the Patina Malidves community or guests and team to witness her artistic fervour firsthand. Guests will have the rare opportunity not only to observe her creative process but also to engage with and create art alongside this luminary.

Experience artistry at its most exclusive

Art Exhibition
Experience Ana’s captivating exploration of colour and emotion in her spellbinding artworks displayed at the Fari Atelier.

Art Workshops: Message in a Bottle
As part of a collaborative artwork, Ana invites Patina guests to participate in short workshops, actively contributing to the creation of a permanent installation at Patina Maldives.

Open Studio Session
Join Ana for an exclusive open studio session, offering guests a behind the-scenes look at her creative process.

Ana Pušica residency package
Discover a world where creativity knows no bounds as Ana Pušica, the maestro of contemporary art, transforms Patina Maldives into an immersive canvas of inspiration.

Book now to secure your experience.
For more information and reservations, please visit Patina Maldives or contact
reservations.maldives@patinahotels.com

Continue Reading
Advertisement

Trending

Copyright all rights reserved by Maldives Promotion House 2023.