| | JUNE 20234 This sense of newfound freedom in the aftermath of the pandemic feels like a second opportunity to live our lives. It encourages people to step out and get the best of what they couldn't enjoy during the global pandemic. While this passion for socializing promises enormous opportunities for the hospitality industry, it also presents an equal amount of challenges, including new consumer expectations where guests seek convenience and sophistication. Especially for countries like Maldives The Maldives welcomed over 1.6 million tourists last year, surpassing its tourist arrival targets despite the challenges. It's quite lucid that travelers worldwide are looking for well-being-oriented and immersive experiences. This drives a massive surge in leisure travel within the domestic market and the inbound international travel landscape. Even corporate travel and MICE are being extended to incorporate elements of leisure experiences. Lend your ears to Sunjae Sharma, Managing Director, India & Southwest Asia, Hyatt India Consultancy Pvt. Ltd. He elucidates, "The human desire to reconnect with loved ones and experience the joy of traveling together to newer destinations has never been so intense. This is reflected in the growing demand for staycations, workcations, and weekend getaways."The country's tourism ministry recently unveiled the Fifth Tourism Master Plan, setting out the `vision, policy priorities, and strategies for the next five years. The plan targets increasing annual tourism receipts to $6 billion by 2027, up from an estimated $4.2 billion in 2023. The tourism hotspot will also have to keep a keen eye on the Smart Hospitality market, which is driven by the need to create unique hospitality experiences and is predicted to grow from $13.6 billion in 2022 to $49.9 billion by 2027 (report by ResearchAndMarkets.com) at a whopping CAGR of 29.8 percent. In this issue, we bring stories from this beautiful country. Do let us know your thoughts.Sujith VasudevanManaging Editoreditor@ceoinsightsasia.comEditorialMaldives Has a Plan Vol 04 · Issue 4-5 ·JUNE, 2023 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Manager - DesignPrabhu Dutta A.R.N Ray Noida Rohit Raghubanshi Akshay Shettyadvertise@ceoinsightsasia.comEditorial queries editor@ceoinsightsasia.comTo subscribeVisit www.ceoinsightsasia.com/subscribe/ or send emailto subscription@ceoinsightsasia.comMagazine Price is $50 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technologies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2023 InfoConnect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. Sr. Designer Souvik Acharya Visualizers Tushar Das Mrigank SharmaVP - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Tejaswini P. Hima P M Keerthana Kantharaj Roopalatha H
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