Monday 22nd Jul 2024
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Russian market contracted by 70 percent: Dr. Mausoom

Tourism Minister Dr. Abdullah Mausoom has revealed that the Russian arrivals market had contracted and revenue from the market by 70 percent following the Russia- Ukraine conflict.
He made the revelation in his statement to Parliament. He was questioned in Parliament by Thimarafushi Constituency Member of Parliament Abdullah Riyaz, over the delay of resort development in the islands in his constituency.
In the day’s questioning, North Thinadhoo Constituency Member of Parliament Abdul Mughnee, posed that Russian market was vital to tourism, and whether the ministry had approached other markets to lessen the loss coming from reduced arrivals from Russia.
Minister Mausoom said the revenues from the market had dipped by 70 percent. He added that new markets were always being sought out, not just because of the losses.
“Russian arrivals were at the top. Now it’s second with 11.9 percent of arrivals. Ukraine was in top 10. They’re now 11th, with 1.9 percent of arrivals,” he said.
Neighboring markets, Minister Mausoom said, were key to stabilizing and developing the market. Indian market, he added, had supplied most of arrivals post pandemic. Today arrivals from India account for 10.9 percent of arrivals, he added. UK market is presently dominating the market with 12 percent of arrivals.
Minister Mausoom said that Maldives as a product was widely accepted and that minimizing the effects of external fluctuations vital.