Saturday, September 21, 2024 The Hotelier Maldives GM Forum 2024, held on September 19 at CROSSROADS Maldives, hosted an insightful panel discussion titled, “Shaping the Future: Strategic Insights from Maldives.” This discussion focused on critical issues impacting the Maldivian economy, particularly in tourism, foreign investment, fiscal policies, and aviation infrastructure. Moderated by TV host Fathimath Sarah, the panel featured key perspectives from four distinguished experts: The discussion explored several strategic themes, covering foreign investment, fiscal management, tourism expansion, and the importance of sustainable growth, with each expert contributing unique insights.
Moosa Zameer, the Minister of Foreign Affairs, opened by emphasizing the essential role that foreign relations play in shaping the economic future of the Maldives, especially within the tourism sector. He discussed the importance of strategic foreign direct investments (FDIs), particularly in building sustainable tourism infrastructure. Zameer noted the Maldives’ focus on strengthening bilateral agreements with emerging markets, such as China, the Middle East, and Southeast Asia, to diversify its tourism sources.
“Increasing our reach to new markets is vital for maintaining the resilience of our tourism industry in uncertain global climates,” Zameer stated. Mohamed Saeed, Minister of Economic Development and Trade, addressed the delicate balance between managing public debt and continuing to invest in key sectors such as tourism. He highlighted ongoing fiscal reforms designed to boost private sector participation, especially within the hospitality industry.
“Our primary focus is to manage debt responsibly while ensuring sufficient investments in tourism infrastructure, which is the backbone of our economy,” Saeed remarked. He also touched upon efforts to diversify the economy by promoting industries such as fisheries and manufacturing, which are seen as vital to long-term stability. Ibrahim Shareef Mohamed, CEO of MACL, provided an overview of the developments at Velana International Airport.
As international tourist numbers grow, he stressed the importance of expanding the airport’s capacity and enhancing travel experiences. Shareef shared plans for improving domestic connectivity, particularly to remote islands, to boost tourism growth across the Maldives. “By improving our aviation infrastructure, we’re enabling seamless travel and helping tourists explore the Maldives more easily,” Shareef explained.
Mohamed Khaleel, the President’s Advisor on Tourism Development, outlined the government’s vision for expanding the Maldives’ tourism offerings. He highlighted the growing focus on sustainability and the shift towards community-based tourism, complementing the traditional high-end resort model. “Our luxury tourism model is successful, but we are now exploring new experiences, such as eco-tourism and cultural tourism, to attract a broader range of travelers,” Khaleel shared.
The session concluded with a Q&A, during which panelists discussed various challenges and opportunities for the Maldivian economy, including public-private partnerships and strategies to navigate the global economic landscape..
