Stats Show 27% of Households Save Upto MVR 2000 Monthly Due to RTL

MV+ News Desk | November 15, 2023
Photo: MTCC

The Ministry of National Planning, Housing & Infrastructure reveals a reduction in household travel expenses, with 27% of households attributing monthly savings between MVR 1001 to MVR 2000 to the impact of Rajje Transport Link (RTL).

According to the statistics, 14% of households experienced no reduction in travel costs, while 5% reported a decrease of MVR 100 or less.

The breakdown continues with 17% saving between MVR 101 to MVR 250, 19% between MVR 251 to MVR 1000, and 27% falling in the range of MVR 1001 to MVR 2000.

The remaining categories include MVR 2001 to MVR 3000 (12%), MVR 3001 to MVR 5000 (4%), and MVR 5001 or more (3%).

For those benefiting from reduced expenses, 27% saved an average of MVR 1,001-2,000 per month, with an additional 19% reporting savings exceeding this amount. The weighted median household saving stands at MVR 800 per month, translating to an annual saving of MVR 9,600 per household. Collectively, this results in a staggering MVR 100 million per year for all households in Zone 1.

The study indicates that increased spending power has triggered positive changes for families in the region. 

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