Business
Spain dives into deep recession, tourism woes bode ill for rebound
 
																								
												
												
											MADRID (Reuters) – The coronavirus crisis has pulverised Spain’s economy, triggering its worst recession since the civil war, with collapsed tourism numbers boding ill for hopes of a swift rebound.
Hit by one of Europe’s worst outbreaks and strictest lockdowns, the economy came to a virtual halt in March and remained paralysed until the end of June.
It shrank 18.5% in the second quarter, a drop so harsh it wiped out all the recovery achieved since the 2008 global financial crisis, figures from the National Statistics Institute showed on Friday.
“It’s a war economy,” said one Mallorca hotelier, Lluis Rullan, who has only reopened one of his two establishments and was limiting costs and staff to a minimum due to scant visitors.
The government had counted on tourists from northern Europe and further afield driving a third quarter recovery, but quarantines and travel advisories have dashed hopes as Spain battles with new localised outbreaks of the COVID-19 disease.
Rullan, who operates in Soller in northwest Mallorca, had planned for 60% occupancy for August but now expects barely 20% for what should be the high summer season.
After Britain required travellers to Spain to quarantine on return, Germany dealt another blow on Friday, putting three Spanish regions – including Catalonia, home to Barcelona – on its list of high-risk areas.
“Not only has the Spanish economy been one of the worst hit in the euro zone by the pandemic, it also looks set to make a much weaker recovery than its neighbours,” said analysts at Capital Economics.
Spain normally received about 80 million visitors annually and has depended on tourism for about 12% of economic output.
‘Everything is empty’
The government has forecast contraction of 9.2% in 2020 as a whole, surpassing the fall during Spain’s 2008-2013 financial crisis, but expects 6.8% growth in 2021.
“I fear something worse because in the previous crisis we had health and now we don’t,” said pensioner Amelia Martin, walking in Madrid with a mask on.
Spain insists it is not experiencing a second wave of the coronavirus and recent increases are still far from the peak.
But Alex Lazarowicz, a British artisan brewer in Barcelona, whose business has suffered from the local resurgence in cases, said things were not improving: “Everything is empty. People no longer go inside the bar.”
With the economy hibernating and most shops closed until reopening began in May, private spending and investment plummeted in the second quarter, inflicting a much greater blow on Spain’s economy than European counterparts including Germany, France and Italy, the data showed.
The second-quarter contraction came after a 5.2% drop in the first three months, at that stage the worst quarter in modern records. Historians say only the 1936-39 civil war hit harder.
The third quarter will now be weaker than expected, said Raymond Torres, chief economist of thinktank Funcas, forecasting that Spain might manage to rake in from tourist income for the whole year what it usually gets in the third quarter alone.
Some sectors, though, recorded positive data in the second quarter, such as agriculture, driven by strong demand for food. A stimulus package and health measures also helped boost public spending.
“Let’s be positive, fight and think that if everybody pushes, we will get Spain out of this,” said retail shops owner Inigo Crespo, who had to close one shop after the lockdown started and is unsure if can keep his other businesses running.
Reporting and photo: Reuters
Business
2 decades of culinary excellence: BBM’s founding legacy with Hotel Asia continues in 2025
 
														Hotel Asia Exhibition and International Culinary Challenge is referred to be the hospitality industry event in the Maldives. In this year’s Culinary Challenge (19 to 22 October 2025) comprising competitions over 20 categories, most will take place at the Faculty of Hospitality and Tourism Studies, Maldives National University, and some at the Synthetic Track, Hulhumalé.

A Founding Partnership that Endures
Since the very first edition in 2001, Bestbuy Maldives (BBM) has played a central role in shaping the International Culinary Challenge into the Maldives’ most prestigious culinary platform. The event has become a cornerstone for professional development, bringing together chefs from across the Maldives to compete, learn, and showcase their craft.

BBM and their associated Principals sponsor an overwhelming majority of categories. “From the beginning, our goal has been to create opportunities for Maldivian chefs to rise to global standards. This partnership has grown with the industry itself,” said A.V.S. Subrahmanyam, Chief Operating Officer of BBM.

Nurturing Local Talent
BBM’s contribution extends beyond sponsorship. The company has built a long-term system for recognizing and developing local culinary talent.
- BBM Chairman’s Trophy for the Best Maldivian Competitor.
- Most Promising Young Chef Award for emerging talent.
- Global exposure programs for Maldivian chefs through sponsored participation in international events.
- Pro-bono Masterclasses with world-renowned chefs to encourage learning and innovation.
Investing in the Future of Hospitality
Through initiatives such as Building Young Talent, BBM continues to mentor aspiring professionals and support the next generation of chefs. The company also promotes inclusivity by sponsoring opportunities for female and young chefs to gain international exposure.
BBM’s industry partnerships include its role as Title Sponsor of the Hotelier Maldives Awards, celebrating excellence across the Maldivian hospitality sector.

Proud Sponsors of Culinary Excellence
In 2025, BBM and its partner brands proudly sponsor 14 competition categories and 8 Main Awards, further strengthening their role in the development of culinary arts in the Maldives. Categories include Decorated Cake, Artistic Showpiece, Bread and Pastry Display, Three Desserts (Display), Desserts, Rice Dish, Asian Noodles, Team Challenge, Maldivian Dish, Creative Sandwich, Young Chef, Tea Challenge, tapas/finger food, and Iced Mocktail.
Business
Bestbuy Maldives, MNU forge partnership to advance hospitality education
 
														The Maldives National University – Faculty of Hospitality and Tourism Studies (MNU-FHTS) and Bestbuy Maldives (BBM) have officially signed a Memorandum of Understanding (MoU) to strengthen industry-academic collaboration and advance hospitality education in the Maldives.
The MoU was signed by Dr Aishath Shehenaz Adam, Vice Chancellor of MNU, and Ismail Hilmy, Chairman and Managing Director of BBM, during a ceremony attended by the university’s Chancellor Dr Mahmood Shaugee, senior management, and representatives from both organisations.
This partnership marks a significant milestone in developing a state-of-the-art Food and Beverage Practical Demonstration Kitchen at MNU-FHTS. BBM will support the upgrading of the existing Garde Manger kitchen and classrooms, contributing financially and materially to create a modern, industry-standard learning environment for future hospitality professionals.
Beyond infrastructure, the collaboration will extend to academic and training support, research and innovation in culinary arts, community engagement, and professional networking opportunities, ensuring that students gain practical, real-world experience aligned with industry expectations.
Highlighting the broader purpose of this partnership, BBM stated that, “This is a significant step in the direction of BBM’s vision involving hospitality industry outreach in the Maldives — because tomorrows start today. Initially, we will set up a world-class model kitchen that will be suitable for masterclasses and hands-on training for students; and also for product demonstrations, masterclasses, and interaction with groups of customers.”
Speaking at the ceremony, representatives from both institutions emphasised their shared vision to promote excellence in education, innovation, and human capital development in the Maldivian hospitality sector. This partnership underscores BBM’s continued commitment to supporting education and industry growth, and MNU-FHTS’s mission to bridge the gap between academia and industry — nurturing the next generation of hospitality leaders in the Maldives.
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.
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