AGP Executive Report

Tourism Taxes: TGST revenue was down 1.4% year on year by October 1, as resort leaders pressed for clarity on tax and foreign-exchange rules. UK travel bodies cautiously welcomed reports that the 17% tax on overseas travel firms may be delayed until April 2027, but say they are awaiting official confirmation. New Connections: VietJet plans three weekly Ho Chi Minh City–Malé flights from December 5, while a new Dubai–Malé private-jet route targets luxury travellers ahead of peak season. Island Investment: SME Digital launched USD-repayable financing of up to MVR 10 million for guesthouse development and upgrades. Dhiraagu and Soneva Conservation will train Dharavandhoo residents in coral restoration and establish a community nursery. Tourism Demand: The Maldives recorded 150,764 arrivals in September, just 414 short of the monthly record. Resort Spotlight: .Here Baa Atoll ranked sixth and Milaidhoo 10th among Indian Ocean resorts in Condé Nast Traveller’s 2026 readers’ awards.

Tourism Policy & FX: Senior government officials met tourism leaders over tax and foreign exchange concerns, including a new rule requiring resorts to convert 40% of foreign currency revenue via domestic banks, as the industry pushes for workable steps to hit 2027 arrival targets. Industry Dialogue: Hotelier Maldives GM Forum 2026 urged wider, open consultation and better data use in policymaking, with leaders calling for productive government-industry dialogue. Connectivity for Tourism: Dhiraagu CEO said tourism and telecom development are tightly linked, stressing technology access as Maldives competes globally. Awards & Brand Buzz: The Ritz-Carlton Maldives, Fari Islands earned Two MICHELIN Keys; The St. Regis Maldives Vommuli Resort marks its 10th anniversary with a 10-day celebration. Resort Updates: The Standard, Maldives launched a limited-time offer for upgraded pool villas; Coco Palm Dhuni Kolhu announced “Roots & Tides” heritage festivities; Ifuru Island unveiled “Echoes of the Ocean and Stars” for Christmas and New Year. Travel Operations: Maldivian launched Journey+ optional services for more flexible passenger choices. Training & Careers: Atmosphere Foundation graduated its second “Zero to Divemaster” cohort, bringing 20 young Maldivians into professional diving pathways.

Tourism Policy: Maldives government met tourism leaders over tax and foreign exchange rules, including a new requirement for resorts to convert 40% of foreign currency revenue via domestic banks, as officials pushed for 2027 arrival targets. TGST Update: The Maldives appears to have delayed the controversial 17% Tourism Goods and Services Tax for foreign travel firms until April 1, 2027, after UK trade lobbying—ABTA now seeks formal confirmation. Resort Accolades: The Ritz-Carlton Maldives, Fari Islands earned Two MICHELIN Keys, while The St. Regis Maldives Vommuli Resort announced a 10-day 10th anniversary celebration (Nov 10–20). On-Island Experiences: Coco Palm Dhuni Kolhu unveiled “Roots & Tides” (Dec 22–Jan 7) celebrating Maldivian heritage, and Ifuru Island will run “Echoes of the Ocean and Stars” (Dec 21–Jan 10). Industry Moves: S Hotels & Resorts expanded Alexander Traeger’s Maldives leadership remit across CROSSROADS Maldives, and HPL will take over Holiday Inn Kandooma Resort management from Oct 1, rebranding it as Kandooma Maldives. Travel Trade Spotlight: Sun Siyam Media signed as official media partner for the South Asian Travel Awards (SATA) in Malé this week.

Tourism Policy: Maldives government discussions with tourism industry experts focused on boosting tourist arrivals and agreeing key milestones for the year ahead, with ministers including Finance Minister Hassan Zareer and Tourism Minister Mohamed Ameen. TGST Update: After lobbying from the UK travel trade, the Maldives has reportedly delayed the 17% Tourism Goods and Services Tax for foreign travel agencies and offshore booking platforms until April 1, 2027; MATATO welcomed the government’s move to revise the destination-principle framework. Airline & Travel Services: Maldivian launched “Journey+” optional services for more passenger choice (priority handling, lounge access, upgrades, extra baggage, and pre-ordered snacks). Resort Openings & Upgrades: Nilaa Coral Island Maldives opens Nov 1 as a seven-villa intimate retreat in Gaafu Dhaalu; Kandooma Maldives relaunches with an expanded family all-inclusive concept; Amilla Maldives rolls out autumn 2026 wellness residencies. Industry & Events: SS Media signed as official media partner for SATA 2026 in Malé, while HPL Hotels & Resorts takes over Holiday Inn Kandooma’s management from Oct 1. Marine & Sustainability: Applications open for the 4th Marine Hatchery Skills Development Program, and Bandos marks a guest’s 50th visit with a dedicated coral garden.

Tourism Numbers: Maldives tourism is still chasing momentum after September arrivals fell just 414 short of the prior record, with 158,557 visitors reported and Indian arrivals up 10% MoM to 51,931. TGST Update: The Maldives appears to have delayed the controversial 17% Tourism Goods and Services Tax for foreign travel firms—implementation for foreign travel agents and offshore booking platforms pushed to April 1, 2027—after industry lobbying. Ras Malé Governance Clash: Parliament’s MDP moved an emergency motion demanding full disclosure of the Eagle Hills “Rasmale’” deal details, while the AG said new real estate law is not being drafted specifically for the project. Resort & Airline Moves: HPL will take over Holiday Inn Kandooma Resort Maldives from 1 Oct, relaunching it as Kandooma Maldives with an expanded all-inclusive concept; Maldivian launched “Maldivian Journey+” optional services; and Ifuru Island unveiled its “Echoes of the Ocean and Stars” festive programme (21 Dec–10 Jan). Sustainability & Skills: Atoll Solar and Ocean Sun will present lagoon floating solar at Hotelier Maldives GM Forum 2026; and applications opened for the 4th Marine Hatchery Skills Development Program (14-day course on Maniyafushi).

Tourism Numbers: Maldives recorded 150,764 tourist arrivals in September, down 0.2% year-on-year, with resorts hosting the bulk of visitors and China remaining the top source market. TGST Reform: MATATO welcomed President Muizzu’s decision to revise the TGST destination-principle framework after industry concerns, aiming to protect state revenue while keeping Maldives “easy to sell.” Energy & Resilience: Atoll Solar and Ocean Sun will present lagoon floating solar solutions at Hotelier Maldives GM Forum 2026, while another industry piece argues resorts must treat solar, batteries, generators and microgrid control as one integrated system. New Openings & Relaunches: Nilaa Coral Island Maldives opens Nov 1 as an intimate seven-villa retreat; Kandooma Maldives relaunches with a family-focused all-inclusive concept; Grand Park Kodhipparu rolls out “Celebrate More, Feel More” for Oct–Dec 2026. Marine Skills & Jobs: Applications opened for the fourth Marine Hatchery Skills Development Program (Oct 31–Nov 12) training 15 participants in mariculture and hatchery production. Awards & Experiences: RAAYA by Atmosphere won Best Family Resort in the Maldives at Travel Time Awards; Sun Siyam expands Halloween across multiple islands; Bandos marks a loyal guest’s 50th visit with a dedicated coral restoration garden.

Maritime Skills & Jobs: Applications are open for the Maldives Marine Research Institute’s fourth Marine Hatchery Skills Development Program (14 days, 15 spots) at K. Maniyafushi from Oct 31–Nov 12, covering grouper, sea cucumbers, clownfish, pearl-oyster, seaweed, disease prevention and environmental protection. Private-Island Hospitality: Nilaa Coral Island Maldives (Gaafu Dhaalu) will open Nov 1 with just seven villas for about 40 guests, focusing on “home-like” living and direct access to the house reef plus a marine centre for diving and watersports. TGST Reform Watch: MATATO welcomed President Muizzu’s decision to revise the destination-principle TGST framework for foreign travel agents, after industry concerns over deadlines and procedures—aiming to keep Maldives competitive while protecting state revenue. Family-First Rebrand: Kandooma Maldives has relaunched after 17 years as an expanded all-inclusive, experience-led family resort with new Family Beach Pool Villas and added activities for longer-stay guests. Resort & Culture Updates: Cora Cora Maldives promoted Muizz Mohamed to General Manager; Finolhu hosts Château Palmer for an exclusive wine dinner (Oct 25); Sun Siyam rolls out Halloween across multiple islands. Tourism Numbers: September arrivals reached 150,764 (down 0.2% year-on-year), with China still the top source market. Energy & Resilience: Atoll Solar and Ocean Sun will present lagoon floating solar options at Hotelier Maldives GM Forum 2026, as resorts push beyond diesel reliability toward integrated resilience.

TGST Reform Signals: Tourism Minister Mohamed Ameen says President Muizzu will introduce urgent changes to the Tourism Goods and Services Tax Act, responding to industry calls to adjust the destination-principle model and ease concerns over deadlines and procedures for foreign travel agents. Judicial & Investment Safety: Former President Abdulla Yameen urges mercantile/business courts to protect local business and foreign investment, arguing disputes could be resolved in about 20 days with judges insulated from influence. Tourism Numbers: Maldives recorded 150,764 tourist arrivals in September, down 0.2% year-on-year, with resorts still the top stay choice and China leading source markets. Energy for Resorts: At Hotelier Maldives GM Forum 2026, Atoll Solar and Ocean Sun will present lagoon floating solar options, while separate coverage highlights the shift from “reliability-only” power planning to full energy resilience for island microgrids. Brand & Guest Experience: Kandooma Maldives officially rebrands and expands all-inclusive, experience-led family offerings, while RAAYA by Atmosphere wins “Best Family Resort” at the Travel Time Awards. Environment Financing: Maldives signs UNDP agreements to build a biodiversity financing plan and update national biodiversity strategy and reporting. Media Push: Maldives will feature in a special MasterChef Sri Lanka destination episode, spotlighting cuisine, culture and hospitality. Security Incident: Two Maldivians are detained in the UAE over an attempted Flydubai crash incident.

Tourism arrivals: The Maldives recorded 150,764 tourist arrivals in September, down 0.2% year-on-year, with resorts still leading accommodation (1,158,404 visitors year-to-date). Energy & sustainability: At Hotelier Maldives GM Forum 2026, Atoll Solar and Ocean Sun will pitch lagoon floating solar for resorts, while a separate industry focus argues the next step is energy resilience—linking solar, batteries, generators and smart microgrid control. Resort updates: RAAYA by Atmosphere won “Best Family Resort in the Maldives 2025” at the Travel Time Awards; Kandooma Maldives rebrands from Holiday Inn Resort Kandooma with a refreshed, experience-led all-inclusive concept; and Hulhule Island Hotel reclaimed “Best Culinary Establishment” at Hotel Asia Culinary Competition 2026. Policy & systems: MIRA launched the Maldives Guest Information System (MGIS) to streamline guest data reporting, and GST is now being applied to offshore booking platforms and foreign tour operators—sparking calls for delays from industry groups. Market spotlight: Visit Maldives CEO Abdulla Yasir says India remains a key growth market, citing short flight times and rising repeat visitors. Culture on TV: The Maldives will feature in a special MasterChef Sri Lanka destination episode on 3 October, filmed in the country.

Tourism Numbers: Maldives recorded 150,764 tourist arrivals in September, down 0.2% year-on-year, with 1,603,021 arrivals so far in 2026; China remains the top source market (300,977 visitors), followed by Russia and the UK. Island Business & Policy: MDP chair Mohamed Nasheed urged development beyond Malé, saying island-based industries and local councils should be supported to turn homegrown production into profitable ventures. All-Inclusive Refresh: Kandooma Maldives officially rebrands from Holiday Inn Resort Kandooma Maldives, rolling out an experience-led, family-friendly all-inclusive with new Family Beach Pool Villas, splash pools, and a revamped Beach Club. Digital Guest Reporting: MIRA launched the Maldives Guest Information System (MGIS) to streamline tourist data submissions for guesthouses and other operators, with phased onboarding starting November for larger establishments. GST on Overseas Agents: MIRA began levying GST on offshore booking platforms and foreign tour operators, prompting concerns from MATATO about enforcement and the burden on local SMEs. Resort Energy Push: RAH GILI MALDIVES highlighted a 2MW solar installation as part of its hybrid power model to cut diesel dependence. Industry Events: Hotelier Maldives GM Forum 2026 (5 Oct) returns under the theme “Resilience and Reinvention,” with Storm Events as organising partner.

Sustainable Finance for Biodiversity: The Maldives Ministry of Climate Change, Environment and Energy has signed letters of agreement with UNDP for a GEF-funded initiative to update the National Biodiversity Strategy and Action Plan, prepare the Seventh CBD report, and build a Biodiversity Financing Plan. All-Inclusive, Upgraded Experiences: Sun Siyam Iru Fushi is reframing all-inclusive luxury around built-in culture, daily wellness, and guided ocean adventures. Festive Season Line-Ups: Coco Bodu Hithi rolls out “Island Glow” (22 Dec 2026–7 Jan 2027) with dining, entertainment, coral planting and family activities; The Standard Maldives launches “The Festive Isle” candy-themed celebrations (20 Dec 2026–7 Jan 2027). Resort Rebrands & Family Upgrades: Kandooma Maldives officially relaunches from Holiday Inn Kandooma with a refreshed, experience-led all-inclusive concept, adding family pool villas and a new beach club. Tourism Data Reporting Gets Easier: MIRA launched the Maldives Guest Information System (MGIS), with resorts/hotels/guesthouses over 50 beds starting reporting from November. Cash & GST Pressure on Travel Trade: Bank of Maldives set a USD 3,500 monthly ATM withdrawal cap, while MIRA began levying GST on offshore booking platforms and foreign tour operators. Energy Transition Spotlight: RAH GILI MALDIVES highlights a 2MW solar installation with battery storage to cut diesel dependence.

Tourism Policy & Data: MIRA launched the Maldives Guest Information System (MGIS), a centralized portal for resorts, hotels and guesthouses to submit guest data, with phased onboarding from November (50+ beds) and January for other Green Tax entities—aimed at cutting manual reporting and linking submissions with the Tourism Ministry. GST on Foreign Agents: MIRA also began levying GST on offshore booking platforms and foreign tour operators under the amended GST Act, despite travel trade concerns about enforcement and consultation. Cash & FX Controls: Bank of Maldives set a monthly USD 3,500 cap on ATM dollar withdrawals (daily USD 1,600 cap unchanged), citing pressure on dollar reserves and tighter limits on travel-related FX use. Resort Updates: Kandooma Maldives rebranded after HPL Hotels & Resorts took over management of Holiday Inn Kandooma Resort Maldives, rolling out an all-inclusive, family-focused refresh. Market Focus: Visit Maldives MD said India remains a key growth market, highlighting rising repeat visitors. Culinary & Guest Experience: Hulhule Island Hotel reclaimed Best Culinary Establishment at Hotel Asia Culinary Competition; multiple resorts announced fresh dining and festive programmes for late 2026. Industry Events: Hotelier Maldives GM Forum 2026 (5 Oct) will spotlight AI/data/automation and resilience, with IFC presenting on financing energy resilience for the Maldives.

Tourism Tech & Compliance: MIRA launched the Maldives Guest Information System (MGIS), letting Green Tax-registered tourism businesses submit guest data in one place, with resorts/hotels/guesthouses over 50 beds starting from November and others from January—aimed at cutting manual reporting and syncing with Tourism Ministry requirements. Industry & Events: Hotelier Maldives GM Forum 2026 (5 Oct, CROSSROADS Maldives) adds a focus on “AI, Data and Automation” and resilience, with IFC set to discuss financing energy resilience for the Maldives’ transition. Resort Updates: Kandooma Maldives rebrands today with an experience-led, refreshed all-inclusive offering for families; Park Hyatt Maldives Hadahaa kicks off its Masters of Food & Wine series with MICHELIN-starred Chef Ku Chi Fai (2 & 5 Oct). Brand & Hospitality News: Coco de Mer Maldives (Tapestry Collection by Hilton) appoints Ahmed Anees as General Manager ahead of its 2027 opening. Policy Pressure: ABTA says lobbying over the new 17% tourism GST on overseas travel firms’ margins has not been met with enough clarity or consultation, warning it could hit UK trade. Safety & Community: SLMA’s road-safety push highlights child helmet access via the “Helmet Hero” programme, backed by Rotary Sri Lanka and Maldives.

Ras Malé Waterfront & Marina: Finance Minister Hassan Zareer says the USD 20bn Eagle Hills project could generate about USD 1.1bn a year, with the state taking TGST and set fees—no tax concessions or sovereign guarantees. Tourism Tax Backlash: ABTA warns the Maldives’ new 17% GST on overseas travel firms’ margins from Oct 1 is unclear and “not fit for purpose,” urging a delay and consultation. Air Connectivity Upgrade: Maldivian has opened a modernised seaplane terminal at Velana, adding lounges, a children’s area and improved facilities, as officials cite passenger growth and fleet plans. Hotel & Dining Buzz: Park Hyatt Maldives Hadahaa launches its Masters of Food & Wine series with MICHELIN-starred Chef Ku Chi Fai (Oct 2 & 5). GM Forum Line-up: SHC Law & Tax will address FX, MMA approvals and foreign tour operator TGST compliance at Hotelier Maldives GM Forum 2026, with Atmosphere Core’s Shrikant Dash also set for a keynote on “Emotional Ownership.” Awards & Recognition: The OZEN COLLECTION celebrates World Travel Awards wins, while Maldives-linked events continue to draw global attention. Consular Update: Egypt secured the release of doctor Peter Semaan Marzouk detained in the Maldives after a bomb-joke incident. Wildlife Moment: Cinnamon Velifushi Maldives welcomed seven sea turtle hatchlings into the ocean.

World Travel Awards buzz: THE OZEN COLLECTION swept top honours at the 33rd World Travel Awards, with OZEN Reserve Bolifushi winning “Maldives’ Leading Luxury Hotel Villa” for a fourth straight year, while OZEN Life Maadhoo also took an Indian Ocean title. Tourism policy pressure: Industry lobbying failed to delay the Maldives’ new 17% tourism GST extension to overseas travel firms’ margins from Oct 1, with ABTA warning the lack of clarity and consultation could hurt UK trade. Aviation & access: Maldivian opened a modernised seaplane terminal at Velana, adding lounges, a children’s area and improved facilities, as officials said the airline is back on track after earlier debt. Hospitality leadership: Hotelier Maldives GM Forum 2026 (Oct 5) welcomes Dhivehi Insurance as Insurance Partner under “Resilience and Reinvention: Talent, Technology & Transformation.” Safety focus: A Maldives Safety and Security Conference 2026 opened, stressing that visitor safety is built by daily work across the sector. Consular update: Egypt secured the release of detained doctor Peter Semaan Marzouk after foreign ministry contacts with Maldivian authorities. Wildlife moment: Seven sea turtle hatchlings began their ocean journey at Cinnamon Velifushi Maldives.

Maldivian Aviation & Safety: Maldivian opened a modernised seaplane terminal at Velana International Airport, adding air-conditioned comfort and new passenger facilities including lounges, a children’s play area and a viewing deck, as officials said the airline is back on track after earlier debt and operational troubles. Tourism Risk Focus: The Maldives Safety and Security Conference 2026 kicked off at Barceló Nasandhura, bringing together resorts, regulators and emergency responders to tackle tourism risks, emergency preparedness and even cybersecurity, with Gage named main partner. Ras Malé Governance: Former President Mohamed Nasheed urged a legal framework for the proposed Ras Malé waterfront and marina, calling for the contract to be submitted to Parliament, while the Attorney General said the project will be governed under a new Real Estate Act. Diplomatic/Consular Update: Egypt secured the release of an Egyptian doctor detained in the Maldives, with consular support coordinated via the Egyptian embassy in Sri Lanka. Tourism Recognition: World Travel Awards coverage highlighted Maldives-linked regional wins and the Maldives hosting the WTA Asia, Oceania & Indian Ocean gala, reinforcing the destination’s role as a tourism awards hub. Drug Seizure: Indian authorities seized drugs worth over Rs 18 crore allegedly bound for the Maldives by sea, arresting suspects and launching investigations.