Business
Lucky no more? Australia’s golden economy faces long road to virus recovery

SYDNEY (Reuters) – Coronavirus has done to Australia what even the global financial crisis couldn’t: abruptly end a record growth run and help trigger a deep recession from which the country will take time to recover.
While Australia has had great success so far in heading off the pandemic, with just over 100 deaths, the cure of shutting out the rest of the world means massive hits to three key growth drivers – tourism, education and immigration.
Fiona Gulin was 18 when the last recession hit Australia in the early 1990s. Back then, she managed to keep a part-time job at a music publication, before moving on to full-time work and a lucrative career in the entertainment industry.
This time, she hasn’t been so lucky.
“I have been hit hard in this recession,” said Gulin, who was laid off in April as the marketing director of the ANZ Stadium in Sydney, prompting her to ditch her rented house in the city and move back to her home in Melbourne.
Gulin is among the hundreds of thousands who have lost their livelihoods overnight to the COVID-19 pandemic as Australia suffers its first recession in 30 years and its unemployment rate hits a 19-year high of 7.1%.
Even though Australia’s economy was among the first to reopen after lockdowns worldwide and earlier than the government expected, it contracted 0.3% in the first quarter and a new wave of coronavirus cases could put a recovery at risk.
Women have been particularly hard hit.
The unemployment rate for females looking for full-time work surged to 8.3% in May from 5.4% in February before coronavirus-driven shutdowns kicked in. That compares with 7% for men from 4.8% in February.
“Australia is known as the lucky country but I am not very lucky at the moment,” Gulin, who is receiving government welfare payments, told Reuters.
“I have been talking to a few people about some opportunities but nothing has come up yet.”

Vulnerable services
During the unprecedented run of growth, Australia transformed into an open, services-driven economy, feeding China’s rise with its mineral and commodity wealth and shedding much of its manufacturing capability.
The services sector accounts for almost two-thirds of Australia’s A$2 trillion ($1.4 trillion) annual economic output – but is now particularly vulnerable to the closure of national borders and social distancing measures to tame coronavirus.
“The tourism-dependent economies are the ones we worry about the most,” said Citi’s global chief economist, Catherine Mann.
Mann sees a V-shaped rebound for manufacturing generally but for the services or consumer discretionary sector, “it is absolutely an L-shaped recovery,” she said, meaning it could take a while for growth to fully recover.
“What was lost in the early part of this year will never be recovered from the standpoint of revenues for a company.”
Virus shadow
Policymakers, too, are worried about the long road back to economic health.

The Reserve Bank of Australia has pledged to keep its benchmark cash rate at a record low 0.25% until there is progress in achieving its employment and inflation goals.
“We’re going to have low interest rates for a long period of time,” central bank Governor Philip Lowe said last week, adding that there would be “a shadow from the virus for quite a few years.”
“People will be more risk averse, they won’t want to borrow. In Australia, we’re going to have lower population dynamics,” Lowe said, referring to the idea that fewer foreigners entering the country would lead to lower consumer demand and a tighter labour market.
Puja Basnet, an international student from Nepal, is reconsidering her options in Australia after losing her part-time job as a waitress.
“I was at home for two months without work and I have almost run out of my savings. As a non-Australian I don’t even have access to Centrelink,” she said, referring to government welfare payments.
For Basnet, the future is even more challenging as more people are now jostling for each job.
An L-shaped recovery also means the unemployment rate will stay higher for longer.
“I am really worried about the future. I have been applying for 30-40 jobs a week but there has been zero responses.”
Reporting and photo: Reuters
Business
SATA 2025 announces partnerships; confirms Hotelier Maldives, Maldives Insider as Media Partners

Hotelier Maldives and Maldives Insider have been confirmed as official Media Partners of the South Asian Travel Awards (SATA) 2025. The announcement was made during a signing ceremony held at Hulhulé Island Hotel, Maldives, where SATA unveiled its distinguished partners for the 9th edition of the annual awards.
Now in its ninth year, SATA has become a key platform for recognising excellence in South Asia’s tourism and hospitality sector. The partnership with Hotelier Maldives and Maldives Insider will strengthen the awards’ regional visibility and ensure extensive coverage of the event across Maldives and beyond.

This year’s awards ceremony will take place from 19th to 20th September 2025 at Cinnamon Grand Colombo, Sri Lanka, bringing together industry leaders, stakeholders, and innovators from across South Asia.
In addition to the media partnership, SATA 2025 also announced its corporate partners. Honda Marine has been named the Platinum Partner, while The Hawks, Velana International Airport, and Allied Insurance Company of the Maldives join as Gold Partners. Renaatus Realty has been confirmed as the Silver Partner, and Hulhulé Island Hotel continues as the official Hospitality Partner in the Maldives.

Speaking at the ceremony, SATA organisers noted that the strong lineup of partners reflects the growing importance of collaboration within the tourism and hospitality industry. With the support of its partners, SATA 2025 aims not only to celebrate outstanding achievements but also to foster long-term cooperation and sustainable growth in the region’s tourism sector.
The awards are endorsed by leading national tourism bodies and associations across South Asia, including the Sri Lanka Tourism Development Authority, Nepal Tourism Board, Visit Maldives Corporation Limited, and several travel and hotel associations across the region.

This year’s evaluation process was conducted by a panel of nine jury members representing different countries, including tourism leaders from India, Sri Lanka, Bangladesh, Nepal, Bhutan, Spain, and the Maldives.
Through partnerships with media outlets such as Hotelier Maldives and Maldives Insider, SATA 2025 will ensure broad engagement across key markets, strengthening its position as one of South Asia’s most prestigious hospitality and travel award platforms.
Business
BBM, Mamee Food Services partner to elevate Maldivian dining with Asian Cuisine Engagement Week

Bestbuy Maldives (BBM), a key supplier to the Maldives’ hospitality industry, in partnership with Mamee Food Services, has launched the Asian Cuisine Engagement Week. The programme, running from 29th June to 4th July 2025, is designed to introduce premium Asian sauces to the Maldives foodservice sector and upskill culinary professionals.
The official launch was held on Monday at BBM’s venue partner, the Faculty of Hospitality and Tourism Studies (FHTS) at The Maldives National University (MNU). FHTS continues to be a key collaborator with BBM on industry events and culinary development. The event was attended by over 40 chefs from leading hotels and restaurants in Malé. Representatives from Mamee Food Services travelled to the Maldives to lead the session, which included live product demonstrations and technical training.

The focus of the initiative is the introduction of Mamee’s premium Asian sauces, including the Daebak range, which features a variety of Korean and East Asian flavours. The programme aims to support chefs in incorporating these new products into their menus, fostering innovation within commercial kitchens.
AVS Subrahmanyam, Chief Operating Officer of Bestbuy Maldives, commented on the initiative, stating, “Our goal is to be a strategic partner for the culinary community in the Maldives. This collaboration with Mamee Food Services is a direct reflection of that commitment. By providing access to new products and facilitating hands-on training, we are investing in the skills of chefs and supporting the evolution of menu offerings across the country. This initiative aligns with our broader strategy to continuously elevate the culinary standards in the Maldives.”

He added, “We believe that introducing high-quality, authentic Asian flavours through our partnership with a globally recognised brand like Mamee will provide a new dimension to the dining experience for tourists and locals alike. This reinforces BBM’s role as a trusted partner for global F&B brands seeking to make a mark in the Maldivian market.”
Jennifer Chee, Director of Food Service at Mamee Food Service, expressed her enthusiasm for the collaboration, stating, “We are incredibly excited to partner with Bestbuy Maldives to bring Mamee’s authentic Asian flavours to the vibrant culinary scene of the Maldives. This engagement week is a fantastic opportunity to showcase how our premium sauces, particularly the Daebak range, can inspire creativity and elevate dishes in professional kitchens.”
“We believe that by working directly with chefs and providing hands-on training, we can truly empower them to explore new culinary possibilities and deliver exceptional dining experiences to their guests. We look forward to seeing the innovative ways Maldivian chefs will incorporate our products.”

Following the launch in Malé, a dedicated follow-up session will be held at OBLU XPERIENCE Ailafushi for resort-based chefs. This session will include participation from properties within the Atmosphere Core group, providing hands-on training focused on the scalable integration of Mamee products into commercial resort kitchens.


Throughout the week, the culinary team from BBM and Mamee will conduct on-site visits and tastings at selected restaurants in Malé, offering further technical support and guidance.
This joint initiative between BBM and Mamee Food Services is set to drive menu innovation and provide culinary professionals in the Maldives with the tools and skills needed to meet evolving consumer tastes.
Business
2025 sees Maldives reach 1 million tourist mark in record time

Maldives has welcomed its 1 millionth tourist of 2025 on 7th June 2025, the fastest that the country has achieved a million tourists in our nation’s history.
Kajal Singh, an Indian national, arrived in the Maldives today on IndiGo flight 6E 1131 at 12:55. She is visiting for her honeymoon at Bandos Maldives. This is her first trip to the Maldives.

Visit Maldives, in collaboration with the Ministry of Tourism and Environment and Maldives Airports Company Limited (MACL), hosted a special celebratory event at Velana International Airport to commemorate this remarkable achievement.
“This milestone fills us with immense pride, reflecting the successful culmination of our destination marketing initiatives that showcase the true essence of the Maldivian experience,” stated Minister for Tourism and Environment Thoriq Ibrahim. “Welcoming one million tourists with such unprecedented speed is a powerful indicator of our global appeal, and I extend my sincere appreciation to all the hardworking individuals across the tourism sector whose dedication made this achievement possible.”

In a gesture highlighting the nation’s commitment to environmental sustainability, the one millionth visitor, Kajal, was invited to participate in the “Five Million Trees Planting Program” initiated by President Dr. Mohamed Muizzu. Kajal planted a tree at Hulhulé as part of this nationwide effort to combat climate change, enhance biodiversity, and promote a greener Maldives for future generations.
“This achievement is a clear indicator that we are well on our way to attaining H.E President Dr Mohamed Muizzu’s national tourist arrival target of 2.3 million for this year,” said CEO & MD of MMPRC Ibrahim Shiuree. “We are thrilled to celebrate this milestone with all our stakeholders, whose dedication and hard work are invaluable. Our commitment doesn’t end here; we are continually working to enhance the Maldives’ tourism industry and ensure the Sunny Side of Life remains a dream destination for everyone.”

The arrival of the 1 millionth tourist in 2025 marks a proud moment for Maldivian tourism, symbolizing the robust momentum generated by MMPRC’s strategic promotional efforts. Building on the resounding success of the recent Arabian Travel Market (ATM) 2025, where the Maldives captivated the global travel trade community with its powerful and immersive showcase, this milestone highlights the effectiveness of our enhanced global visibility and affirmed key industry partnerships.
Complementing these efforts, the ongoing comprehensive Summer Campaign, with its multi-market strategy spanning Europe and key international markets, is actively driving increased visibility and stimulating early bookings for both the summer and upcoming winter seasons. MMPRC’s marketing initiatives such as high-impact campaigns, strategic partnerships, and targeted outreach are significantly enhancing the Maldives’ global brand, boosting booking confidence, and solidifying its position as a leading, year-round holiday destination.
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