Minister of Tourism of the Maldives offers full support
Hon. Moosa Zameer, Minister of Tourism of the Maldives
Bench Events have recently announced the launch of the inaugural Maldives Hotel & Tourism Investment Briefing to be held on 30 November in Malé, following on from the Asia Hotel & Tourism Investment Conference (AHTIC) which is taking place in Colombo, Sri Lanka from 28-29 November. AHTIC is a top-level gathering of international investors, business leaders, government ministers and officials and it is anticipated that investors and delegates will travel from Colombo to Malé for a one-day briefing with project showcases and a networking reception followed by a day of FAM trips to various islands around the region to show potential investors and partners the projects available for collaborations. These will include a range of both public and private investment opportunities.
In 2016 the Maldives hospitality and tourism industry recorded an annual average tourist arrival growth rate of 4.2%. According to the UNWTO World Tourism Barometer, the global annual average tourist arrival growth rate for the year was 3.9% year-on-year, which is slightly lower than the rate for Maldives.
To cater for this increase in demand the country continues to invest in the supporting infrastructure and connectivity. The main airport is currently under expansion and is expected to be completed by 2018. Several new airlines have recently commenced flights to the Maldives including Saudi Airlines.
The Maldives is an attractive destination for the discerning investor and one of South Asia’s most attractive centers for Foreign Direct Investment. Lying in the heart of the Indian Ocean, at the strategic cross roads of the East and the West, the Maldives benefits from a stable and transparent legal system, relative political stability and stable economic growth. With a rate of growth that has averaged 7.5% over the past 15 years, the country continues to develop at a steady pace and remains economically resilient.
The Special Economic Zones framework provides economic incentives and introduces a flexible regulatory environment for foreign investments. With the right to incorporate businesses with 100% foreign ownership and no restrictions on repatriation of profits, the Maldives promotes a liberal trade environment and offers excellent ROI, which are among the highest globally (5 to 8 years on average).
The briefing is organised by Bench Events, in partnership with Luxury Collections and will be hosted by the Ministry of Tourism, under the patronage Mr Moosa Zameer, Tourism Minister of the Maldives.
Luxury Collections CEO & Founder, Adeel Ahmed, said: “We are thrilled to announce the Maldives Tourism and Hotel Investment Briefing. This event will attract some of the world’s premier investors and is co-directed by a leading international consultant who has organised multiple similar events around the globe. This event has incredible potential for tourism investment, and the Maldives is bursting with opportunities, with a tourism-based economy and a strong brand identity which has stood the test of time”.