MUIZZJU WILL AGREE ONLY AFTER SINKING MALDIVES! MALDIVES IS FACING LOSSES WORTH CRORES OF RUPEES.
Maldives Vs Lakshadweep: After the Lakshadweep vs Maldives dispute, Maldives’ relations with India have turned sour. The anti-India attitude of Maldives President Mohammed Muizzu is now coming to the fore. Muizzu became so engrossed in his friendship with China that he forgot India’s favors. In this article about the business news today you will get all the latest information and the impact of the worst relationship with India due to which Maldives suffers loss. By allowing the Chinese spy ship ‘Jiang Yang Hong 03’ to visit the Maldives, Muizzu invited China to India’s doorstep. India, which runs the economy of Maldives, is today eyeing India based on China’s loan. After the Lakshadweep dispute, Indian tourists started boycotting Maldives. Now the Maldivian economy is facing the resentment of the Indian tourists who act as a booster dose for the Maldivian economy.
Maldives suffers loss due to Lakshadweep dispute:
Indian tourists provide a booster dose to the economy of Maldives, but after the controversy, there is a huge decline in the number of Indian tourists going there. A reduction in the number of Indian tourists means a direct impact on the economy. A large part of the total income of the Maldives government comes from the spending by Indian tourists. If media reports are to be believed, Maldives has suffered a loss of around Rs 9 crore every day since the dispute. Ever since this controversy started, Maldives has suffered a loss worth crores. According to the travel agency of Maldives, this loss is affecting 44,000 families in Maldives, who are associated with the tourist sector. After the dispute, the hotel and resort owners have halved the room rent, but still, the rooms are going vacant. Due to this the economy there is suffering losses.
Decrease in the number of Indian tourists:
After the Lakshadweep dispute, there has been a big decline in the number of Indians going to Maldives. Indians are the largest consumers of Maldives’ hospitality and tourism sector. There are about 180 hotels there, but due to a lack of Indian tourists, they are incurring huge losses. Due to the decline in the number of Indian tourists, Maldives’ losses are increasing day by day. The CEO of Maldives’ luxury hotel brand Soneva Fushi has also mentioned in his LinkedIn post the impact on Maldives’ tourism and hotel industry due to the dispute with India.
India’s share in Maldives’ GDP:
The economy of Maldives depends on tourism. About 28% of the GDP there depends on tourism. Its stake in foreign exchange is 60 percent. Indians are at the forefront among the tourists coming to Maldives.209198 Indians reached Maldives in the year 2023. 240000 Indian tourists had arrived in the year 2022. In such a situation, we can imagine how much loss Maldives is suffering due to the resentment of Indians.
Maldives will yearn for these things:
Not just tourists, Maldives is dependent on India for everything from food and drinks to engineering goods and industrial products. The Maldives buys scrap metal, engineering goods, industrial products like pharmaceuticals, radar equipment, rock boulders, and cement besides rice, flour, spices, fruits and vegetables, sugar, and poultry products from India. By September 2023, trade between the two countries was worth $416.06 million, in which exports to Maldives are the highest.
