Issue 01 | October 2023

MATATO
A Monthly Publication by Maldives Association of
Travel Agents and Tour Operators (MATATO)

N E W S
Maldives Chooses
New President in
2023 Elections
Read more on Page 7
____________________________

Maldives travel
awards voting
continues
Read more on Page 9
____________________________

MATATO Releases
Report on Tourism
and Finance
Read more on Page 7

MATATO News
Advertise here 1
 CONTENTS
MATATO DASHBOARD 3

Upcoming properties 4

Upcoming MMPRC Fairs 5

ECONOMIC UPDATE 6

MATATO Releases Report on Tourism and Finance 7

Maldives Chooses New President in 2023 Elections 7

Travel agents’ feedback on Fifth Tourism Master Plan 8

Maldives travel awards voting continues 9

MATATO ACTIVITIES 2023 10

MMPRC Promotes the Sunny Side of Life at IFTM Top Resa 2023 11

The Ritz-Carlton Maldives, Fari Islands Celebrates Autumn

Festival with an Array of Festive Programmes 11

MATATO NEWS
Monthly News by MATATO

CONTRIBUTIONS

MATATO MANAGEMENT TEAM

Abdulla Ghiyas Fathimath Shaha
Mohamed Shaz Waleed Ibrahim Didi
Mohamed Khaleel Ibrahim Nizam
Abdulla Suood Ignaz Mansoor
Mohamed Bassam Adam Hathim Hassan

ADVERTISING & EDITORIAL

For advertising & editorial queries please email to
admin@matato.org

CONTACT
Email : admin@matato.org
Phone :+960 3000 929
Mob# :+960 739 0050

© MATATO NEWS
All rights reserved.

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MATATO News
 MATATO dashboard
2022 International Tourism Arrivals (million) - 969
2022 Maldives Tourism Arrivals - 1,675,303
International arrivals regional shares (%) 2022

Maldives Tourist Arrivals Monthly 2023 vs 22 vs 21

Maldives Top 10 Markets 2023

Government Revenues Tourism Related (MVR)

Departure Tax
Sep-23
67,734,100
Jan - Sept 2023
740,262,005
September 2023
Green Tax
Tourism GST
53,261,206
324,919,016
740,139,374
6,414,024,459
1.18 billion (Total MVR Revenue)
Airport Development Fee
Tourism Land Rent
71,186,003
232,294,955
762,729,258
1,197,786,220
49.62 Million (USD Revenue)
Total Revenue (related & non-related) 1,183,437,842 18,830,632,188
15.8% (Decrease in September 2023 vs 2022)

Dollar income per tourist 536 USD Only 44% of Maldives beds filled
(Estimate based on Year To Date 2023 USD Revenue) so far with the given capacity for
2023
Bed capacity utilization (YTD 2023)

44%

Sources: UNWTO
Ministry of Tourism - Maldives
Maldives Inland Revenue Authority (MIRA)
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MATATO News
 Upcoming properties
Property Region Opening

Ozen Privé Athiri Gili Malé Atoll 2024

Meyyafushi Lhaviyani Atoll 2024

Avalon Maldives Dhaalu Atoll 2024

Villa Haven South Ari Atoll 2024

Nammos Maldives Malé Atoll 2025

Joali Lagoon Malé Atoll 2025

JW Marriott Emboodhoo Finolhu Malé Atoll 2025

Feydhoo Finolhu Malé Atoll 2024

Capella Maldives Malé Atoll 2025

Centara Lagoon Malé Atoll 2025

Centara Grand Muthaafushi Baa Atoll 2024

Al Mahra Laamu Atoll 2025

Corinthia Maldives Malé Atoll 2025

Project Delfin Malé Atoll 2025

Soneva Secret Haa Dhaalu Atoll 2023

SO/Maldives Malé Atoll 2023

Mandarin Oriental Bolidhuffaru

Malé Atoll 2025
Reef

Jawakara Island Maldives Lhaviyani Atoll 2023

Rosewood Ranfaru Maldives Malé Atoll 2025

Bulgari Resort Ranfushi Raa Atoll 2025

Maniya Faru Resort Malé Atoll 2024

Source: Hotelier Maldives

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MATATO News
 Upcoming MMPRC Fairs

Source: MMPRC/ Visit Maldives

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MATATO News
 ECONOMIC UPDATE

Source: Maldives Monetary Authority (MMA)

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MATATO News
 MATATO Releases Report on Tourism and Finance
The Maldives Association of Travel Agents and Tour Operators (MATATO) released a report last month
highlighting concerns over the current fragile state of the Maldivian economy primarily caused by the dollar
crisis, excessive government expenditure and the negative impacts it has had on the local tourism sector.
This report is based on extensive qualitative surveys and interviews with industry stakeholders and sheds
light on these critical issues that require immediate Government attention in order to safeguard the
economy.

Despite a gradual recovery from the COVID-19 pandemic, tourism arrivals in 2022 were, 1.6% lower than the
pre-pandemic period. The Maldives banking sector is grappling with significant issues, including a dollar
crisis, lack of competition, and a weak regulatory framework. Furthermore, the presence of a dollar black
market with limited intervention from the Central Bank (MMA) is causing instability, and the report clearly
indicates the Central Bank has failed in this area. It was also noted that local banks have the highest banking
fees in the region whilst having instituted significant limitations on credit and debit card use for foreign
purchases.

The Maldives is experiencing a severe debt crisis with the sovereign debt estimated at $6.8 billion, which is
equivalent to 113% of the country's GDP. The government's excessive spending, increased recurrent
expenditure, and reliance on tourism income have contributed to this crisis. Additionally, the government's
practice of printing money has led to inflation and significant depreciation of the Maldivian Rufiyaa.

Copy of the report - https://www.scribd.com/document/672576774/MATATO-Report-2022-23-Tourism-and-

Finance

Maldives Chooses New President in 2023

Elections
The Maldives has ushered in a new era with the election of Mohamed
Muizzu, the current Mayor of Male, as the country's next president.
Muizzu emerged victorious in a closely contested race against
incumbent President Ibrahim Mohamed Solih, securing 54.06% of
the vote. The election witnessed a remarkable voter turnout, with
over 85% of eligible Maldivians exercising their democratic right.

Muizzu's victory signals a shift in the Maldivian political landscape,

reflecting the desire for change among the populace. He has pledged
to address pressing issues such as rising living costs, corruption, and
environmental protection. His focus on economic development and
international cooperation is expected to shape the country's future
trajectory. His Manifesto also highlights pledges for local travel
agents.

Muizzu's leadership brings a fresh perspective to Maldivian

governance, promising a renewed focus on addressing the concerns of
the people. His election marks a new chapter in the country's
democratic journey, and the Maldivian people look forward to a future
of progress and prosperity under his leadership.

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MATATO News
 Travel agents’ feedback on Fifth Tourism Master
Plan
The Maldives Fifth Tourism Master Plan is meant to a comprehensive guide that outlines the goals and
strategies for the tourism industry in the Maldives. The plan was created by the Government of Maldives,
represented by the Ministry of Tourism, in collaboration with the Asian Development Bank.

The plan is divided into three sections that cover various aspects of tourism development in the Maldives.

Throughout the plan, there is emphasis on sustainability and responsible tourism practices. The plan
recognizes that tourists are increasingly concerned about environmental issues and social responsibility
when making travel decisions. As such, it emphasizes the need for agile leadership and adaptive
governance to position sustainability as a strategic focus for all tourist establishments.

The plan focuses on sustainable tourism development in the Maldives and outlines goals and strategies
related to environmental sustainability, human capital development, product diversification, and
infrastructure development. While travel agents may play a role in promoting sustainable tourism
practices and supporting the growth of the industry in the Maldives, they are not specifically addressed in
this plan. Here are some specific observations:

1. Lack of detail: While the plan provides a broad overview of goals and strategies, it may not provide
enough detail on specific initiatives or projects that will be implemented to achieve these goals.
2. Limited stakeholder feedback taken into account: The plan was created by the Government of
Maldives in collaboration with the Asian Development Bank, but it may not have involved
sufficient input from local travel agents and the feedback we have provided. In the realm of
sustainable tourism, the primary players in this arena are the resorts and guesthouses. Therefore,
the significance of meticulous coordination, strategic planning, and effective execution cannot be
overstated. It is worth noting that certain private sector initiatives have demonstrated greater
efficiency compared to government endeavours. Thus, fostering synergy, sharing of resources, and
the precise execution of strategies assume paramount importance.
3. Implementation challenges: While the plan outlines ambitious goals and strategies for sustainable
tourism development in the Maldives, there may be challenges in implementing these initiatives
due to limited resources or political will.
4. External factors: The plan does not account for external factors such as global economic conditions
or geopolitical events that could impact tourism development in the Maldives.

Overall, while the Maldives Fifth Tourism Master Plan provides a useful framework for sustainable
tourism development in the country, it is important to recognize that there may be limitations and
challenges associated with its implementation.

The Association believes the Maldives Fifth Tourism Master Plan 2023-2027 does not appear to have a
specific section dedicated to local travel agents or address the concerns of the majority of the industry’s
stakeholders.

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MATATO News
 Maldives travel awards voting continues

The Maldives Travel Awards is an annual event that celebrates excellence in the travel and tourism industry,
recognizing outstanding contributions made by resorts, hotels, airlines, travel agencies, and other key players
within the sector. Each year, these awards serve as a benchmark of excellence and highlight the remarkable
achievements that have significantly elevated the Maldives as a world-class travel destination.

Participants can cast their votes for the Maldives Travel Awards 2023 through the official website,
www.maldivestravelawards.com. The online voting process has been made user-friendly and accessible to
ensure a fair and transparent selection of the winners.

To vote:

• Visit the official Maldives Travel Awards website: www.maldivestravelawards.com

• Explore the diverse array of nominees and categories, each representing excellence in their respective
fields.
• Cast your votes for your favourite nominees in each category.
• Register your email address; a confirmation email will be sent to verify your vote.
• Once confirmed, your vote will be registered as valid.

Maldives Travel Awards 2023 encourages all participants to thoroughly evaluate the exceptional services,
facilities, and experiences offered by the nominees and to make well-informed decisions when voting. This
ensures that only the most deserving candidates receive the accolades they have worked tirelessly to achieve.

Winners of the Maldives Travel Awards will be announced during a glamorous and star-studded awards
ceremony, where industry leaders, tourism experts, and distinguished guests will gather to celebrate the
triumphs of the Maldivian travel and hospitality sector.

For further updates and more information about the Maldives Travel Awards 2023, including the awards
ceremony details, please visit the official website at www.maldivestravelawards.com

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MATATO News
MATATO ACTIVITIES 2023
October

• MATATO joined PATA Travel Market 2023 – New Delhi, India

September

• MATATO Boards meets 2023 Presidential candidates

• MATATO Releases Report on Tourism and Finance

July

• MATATO joins in welcoming the One Millionth Tourist to Maldives

• Launches Maldives Travel Awards 2023 nominations.

June

• Association begins Survey data collection on Maldives Tourism and Finance Sector
• MATATO joined PATA Destination Experience Forum – Kuching, Malaysia
• MMPRC MD Mr Thoyyib Mohamed was a Speaker at PATA Destination Experience
Forum – Kuching, Malaysia
• MATATO VP Mohamed Shaaz Waleed on Raajje_TV – ‘5 Kaafu Program’ discussing
updates on Maldives Tourism
• MATATO promoted Himalayan Travel Mart 2023 Nepal

May

• MATATO joined PATA Annual Summit & Adventure Mart 2023 – Pokhara, Nepal
• Maldives Minister of Tourism Dr Abdulla Mausoom Speaker at PATA Annual Summit
& Adventure Mart 2023 – Pokhara, Nepal
• MATATO participated Visit Maldives Storytellers' Conference 2023 held at Crossroads
Maldives
• MATATO partners with Korean Tourism Organisation for roadshow in Male’

April

• MATATO Ifthar 2023 (Sponsored by Resort Life)

• Opened Request for Proposal (RFP) - Maldives Travel Awards 2023 and Maldives Travel
Conference 2023
• MATATO and Visit Maldives participate in Travel Agents Forum 2023 in Las Vegas in
April 2023

March

• MATATO holds Board meeting

February

• MATATO forms sub committees for Aviation and Foreign Relations

• MATATO appoints a new Secretary General – Abdulla Suood

January

• MATATO holds first Board meeting for year

• Association lobbies against the increase in TGST increase

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MATATO News
MMPRC Promotes the Sunny Side of Life at IFTM Top Resa 2023

Maldives Marketing and Public Relations Corporation (MMPRC/ Visit

Maldives) has promoted the breathtaking Sunny Side of Life in Paris, France,
at IFTM Top Resa 2023. IFTM Top Resa 2023, one of the top tourism events
with over 30,000 visitors, is a multi-purpose trade show covering all travel
segments such as business, leisure, & MICE. The B2B event was held from 3rd
to 5th October 2023 at Porte de Versailles, Paris.

MMPRC’s participation in this event along with 28 co-exhibitors from the industry aligns with its strategies for the
French market, including promoting our unique experiences and segments in order to achieve and exceed pre-
pandemic arrival numbers. Throughout this event, MMPRC strengthened the Maldives' brand in the French market
to sustain Maldives' position as a top-of-the-mind destination. It also provided a platform for industry partners to
showcase their products and services to the French market with excellent networking and potential collaboration
opportunities.

The stand activities undertaken at the trade show ranged from digital interactive kiosks that allow easy exploration
of Maldives’ tourism products and experiences, along with social media amplification and surveys. Attendees
experienced Maldivian tradition and culture by trying out ‘libaas’ and ‘feyli’ props or having a taste of Maldives local
delicacies. Press packs were also distributed at the stand that provide information on the destination as well as
MMPRC's co-exhibiting partners.

The Ritz-Carlton Maldives, Fari Islands Celebrates Autumn

Festival with an Array of Festive Programmes
The Ritz-Carlton Maldives, Fari Islands, invites guests to immerse themselves in a week-long celebration during the
resort's Autumn Festival. From October 25 to November 1, this year’s celebration draws inspiration from the vibrant
traditions of Dia de Los Muertos, a vibrant Mexican holiday traditionally known for embracing family and teaching
that life is not a line but a circle - a sentiment seen reflected within the resort's scenography; embrace the circle of
island life. The festival will present a mosaic of authentic holiday offerings on property through an array of curated,
engaging activities suitable for all ages. Guests are invited to embrace the spirit of Autumn by embarking on an island
adventure, infusing the spirit of Mexico into an idyllic Maldivian setting.

Festivities begin on October 25th, with events such as the Marigold Magic Creation workshop, which evokes
creativity through the crafting of beautiful Paper Marigold Flowers - a nod to the marigold's significance in the
annual Dia de Los Muertos festival. Celebrations continue with a Maldivian dinner under the stars where guests can
immerse themselves in the rich flavors of the Indian Ocean, indulge in traditional delicacies, and engage with the
cultural heritage of the Maldives.

The events take a delightful turn on October 27 with a Dia de Los Muertos Cookie Decoration Workshop hosted at
the resort's Italian eatery, La Locanda. Families are invited to unleash their creativity as they decorate delectable
sugar cookies with colorful icing and vibrant designs. On the same evening, the resort's diverse offerings also include
an elegant Lobster Dinner Under the Stars, offering travelers a romantic ambiance beneath the stunning Maldivian
sky. The excitement continues in the following days, when on October 28th guests can look forward to a Pan de
Muerto Decoration activity, where they can embrace the festive spirit by decorating the traditional Mexican sweet
bread in honor of Dia de Los Muertos. This is followed by a lively Piñata Pool Party, where they can take playful
swings at vibrant piñatas filled with delightful surprises.

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MATATO News
 Why matato
In the last 17 years of MATATO existence, the association has had the chance to work with the following organizations:

EXPERIENCE

Seventeen Years of continued support and service to the industry. (Established in 2006, MATATO continues to contribute as strong partner to the
growth of the industry)

RECOGNITION AND ACKNOWLEDGEMENT

MATATO is a household name in the travel industry of Maldives, recognized at National and International Level. Members of MATATO benefit
from representation by an organization acknowledged by the stake holders. MATATO’s opinion and consultation is sought after from all areas
including the business sector and in the highest level of the government.

ADVOCACY AND LOBBYING

Lobbying with Government, MATATO has always liaised closely with government institutes, have held meetings with cabinet ministers on multiple
occasions addressing the concerns of our members and collectively, of the industry. MATATO continues to enjoy and benefit from this strong
collaboration with the government.

EXHIBITIONS, FAIRS AND DESTINATION MARKETING

MATATO has organized destination stands and roadshows, in India, Finland, Russia, Ukraine, Saudi Arabia, China, Malaysia, Macau, Indonesia,
UK, and many other countries.

AFFILIATIONS AND PARTNERSHIPS INTERNATIONAL

Pacific Asia Travel Association PATA – MATATO has signed an MOU with PATA for joint collaborations and projects. MATATO is also the local
chapter for PATA in Maldives.

TRAININGS AND WORKSHOPS

MATATO has been organizing various trainings and workshops for our members and industry

PUBLICATIONS

MATATO has been publishing an annual magazine, Maldives Finder for the last six years.

EVENTS AND REGOGNITION

MATATO has been organizing the Maldives Travel Awards annually for the last several years. The association also hosts the Maldives Travel
Conference annually.

© MATATO NEWS
All rights reserved.

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MATATO News