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Busines and Economy of Maldives

Maldives is heavily dependent on tourism for its foreign exchange, which it uses to import almost everything. Very little is produced on the island itself. Most soil systems are weak though some islands are better off than others. Maldives cultivates only sweet potato, millet, yam, taro and a range of fruit like watermelon, banana, pineapples and citrus fruits.

Fishing is a major source of food and income for the local population. Since time immemorial Maldives has been an important stopover on many sea routes. Shipping is now one of its industries.

Tourism is very well managed by the government accounting for 28% of GDP, not only because it’s an important industry but in order to protect the delicate marine ecology of the islands.

GDP: US$1.79 billion

Per Capita: US$ 5,000

Business Guide

There’s plenty of potential for business with imports ranging from soap to sesame, clothes to cars, furniture to food. All business is in Male. Hours are from 0730-1430 Sunday to Thursday. Business meetings are in the morning and quite casual in spirit. Lightweight suits are perfect for the balmy weather, and for men, just a cotton shirt and trousers would also do. Handshakes are customary greeting.

Make appointments well in advance and re-confirm before getting on the plane.

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