Economy
The Maldives economy has been growing at an annual average of 10% for the past two decades. Tourism is the main industry, contributing close to 20% of the GDP. Fisheries and trade follow close behind. The Maldivian economy is regarded as exemplary in the region and welcomes foreign investment.
Currency
The Maldivian currency is the Rufiyaa and Laaree. The exchange rate for US Dollar at the time of writing is MRf.11.82 for the dollar. One Rufiyaa is equivalent to 100 laarees. Rufiyaa bank notes come in denominations of 5, 10, 20, 50, 100 and 500. Coins are in the denominations of MRf.2.00, MRf.1.00, 50 laarees, 20, 10, 5, 2 and 1 laaree. The US Dollar is the most commonly used foreign currency. Payments in the resorts and hotels can be made in most hard currency in cash, travellers’ cheques or credit cards. Commonly used credit cards are American Express, Visa, Ma ster Card, Diners Club, JCB and Euro Card.
Education
The functional literacy rate is 98%. Educational standards are among the highest in the region and schools follow the British system of education.
Health
Health care facilities are improving almost on a daily basis. The Indhira Gandhi Memorial Hospital (IGMH) in Male’ is the biggest hospital in the country providing sophisticated medical care. ADK Hospital is the biggest private health care facility and follows high medical standards. Some resorts have in-house doctors. A decompression chamber is within easy reach of most resorts in case of a diving emergency.
Local Time
GMT + 5 hours
Business Hours
From Sunday to Thursday 7.30 - 14.30 in the government sector and generally from 9.00 to 5.00 in the private sector, although most offices in the private sector open for a half day on Saturday. Weekend falls on Friday and Saturday.
Communication
Up-to-date technology and international satellite links allow Maldives to have a sophisticated communications system. IDD facilities are available on all resorts and card phones are available on all inhabited islands. Dhiraagu, the Maldives Telecommunications Company also provides mobile telephones for daily rental. It is also the Internet service provider.
Electricity
The electric system is 230-240 Volts -AC
