Perfect Voyage MD Highlights Banking Challenges for Local Tour Operators

Managing Director of Perfect Voyage, Hussain Hassaan, highlighted significant banking challenges faced by local tour operators in the Maldives, with a focus on concerns about card and remittance payments, pointing to a need for streamlined processes.

Concerning outbound operations, discussions centred on taxes and outward remittances. There’s an indication that refining the existing framework might be beneficial for smoother operations.

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The topic of foreign companies potentially operating General Sales Agent (GSA) functions without proper registration was also brought up. Such practices, if occurring, could bypass local regulations.

There were also mentions of foreign travel agencies potentially operating in the Maldives through paper companies. Such practices might bypass typical regulatory procedures and could raise questions about the adherence to local industry standards.

By fostering informed dialogues and presenting insights, such initiatives champion a proactive approach to address these concerns. In turn, this facilitates the development of a stronger and more balanced tourism sector, ensuring local stakeholders play a central role in moulding the industry’s trajectory.