The Ministry of Finance has disclosed a noteworthy financial achievement, announcing that the Maldives has amassed over $64.8 million in Green Tax revenue within the initial six months of 2023.
According to the latest Green Fund Report issued by the finance ministry, the nation has successfully generated a combined total of $65.4 million through a culmination of funds carried over from the previous year’s end and the proceeds stemming from Green Tax collections throughout the first half of the current year.
The comprehensive report also elucidates the progressive inflow of resources into the Green Fund, recording an influx of $6.5 million in January, $5.9 million in February, $6.8 million in March, $6.1 million in April, $5.3 million in May, and $3.2 million in June.
The inception of the Green Fund dates back to 2016, aligning with the objectives set forth by the Maldives’ Tourism Act to address ecological concerns. The mechanism entails a Green Tax of $6 imposed on each tourist per day spent at a resort or hotel within the Maldives, while a fee of $3 is levied for each day’s stay at a guesthouse. The revenue generated from this initiative is strategically allocated towards pivotal projects encompassing coastal safeguarding, water provisioning, waste management, and sewage infrastructure development across diverse regions of the nation.