Tourism revenue should benefit the country: ADB

The president of ADB Takehiko Nkooa stated that the tourism industry of the Maldives is one of the world’s luxurious destination but the impact of it is not seen in the country and in its economy.

He also stated that every year the Maldives welcomes around 1.5 million tourists but the real gain of it is not seen in the country’s economic GDP. Only the foreign hotel chains in the Maldives gaining most of the profit and this would not have a good impact on the country’s economy. The government needs to find ways to capture most of the profit earned in this sector.

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Therefore, amendments need to be made on regulations to make more jobs available to Maldivians, build resorts in more environmentally friendly techniques and to take tourism taxes.

The president of ADB highlighted that the gains received from guest house businesses are one of the profits received from the tourism industry. hence this is one of the main ways to develop the economy of the Maldives and this sector needs to be expanded to achieve higher growths in the Maldives.

There has been a meeting with the president of the Maldives Ibu Solih, president of the parliament Nasheed, minister of foreign and affairs Ibrahim Amir and with the president of the ADB Takehiko Nkooa on ways to increase gains from the tourism industry.

Nkooa assured on his first visit to the Maldives that ADB would always help the Maldives to develop the country.

hence, they have agreed to provide a grant worth USD 120 million to the Thilafushi Hakata project that on goes for the coming 3 years and to a project of Nicholas gas.

They also have given a grant worth USD 10 million in the month of June 2019 to create a business transaction for the business which uses electronic mechanism and for service providers.

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