Enterprising Companies Of The Year

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ENTERPRISING

CASE STUDY Hermes: Crafting Success in the World of Luxury Fashion

Michael Hiron | Co-Founder Veriswitch Solutions

COMPANIES of the Year 2 0 2 4

UPSHOT Journey to the Trans-Himalayan Jewel: Mustang Valley

Umberto Mautone | Co-Founder Veriswitch Solutions

PIONEERING INNOVATION AND SECURITY IN TELECOM

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From Editor’s Desk

In the ever-evolving landscape of business, where innovation and resilience reign supreme, The Enterprise World proudly unveils its latest edition, "Enterprising Companies Of The Year - 2024." At the forefront of this month's issue is Veriswitch Technologies, an exemplary embodiment of enterprise excellence, earning its rightful place on our cover.

Veriswitch Technologies has not merely adapted to change; it has orchestrated it.

This edition's cover story delves deep into the success story of a company that has navigated the complexities of the digital era with finesse and foresight. Their unwavering commitment to pushing the boundaries of technology, coupled with a steadfast dedication to quality and customer satisfaction, positions Veriswitch Technologies as a trailblazer in the business landscape.

As we explore the achievements and strategies that define Veriswitch Technologies, readers will gain valuable insights into what it takes to thrive in an era where agility and innovation are paramount. From technological breakthroughs to organizational culture, this issue peels back the layers to reveal the core elements driving Veriswitch Technologies towards excellence.

"Enterprising Companies Of The Year - 2024" is not just a celebration of success; it is an exploration of the mindset, strategies, and values that set Veriswitch Technologies apart. Join us in applauding the achievements of this enterprising company and in uncovering the secrets behind their success, as we continue our mission to inspire, inform, and connect leaders in the dynamic world of business.

Shalmali W.

The Enterprise World, 1985, Henderson Rd, Columbus, Ohio, 43220

Follow Us On: For Editorial Concerns: editors@theentetpriseworld.com For Sales & Branding Enquiries: sales@theenterpriseworld.com For Subscription: info@theenterpriseworld.com Publisher The Enterprise World Creative Content Editor

Marketing Coordinator (Americas)

Shalmali W.

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PR & Marketing Coordinator

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Elena K.

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Social Media Manager

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Narendra S.

Amanda V.

This list is NOT a ranking. The companies on listed in magazine serve different aspects of the market, making ranking them in any order except revenue impossible and unfair.

We try to bring a perfect platform for business organization to showcase their valued products/ services.

Copyrights © The Enterprise World | 2019. All Rights Reserved. The images and content included in this magazine should not be copied, transferred or reproduced in any form or by any means, electronics, mechanical, photocopying, recording, otherwise, without proper permission from The Enterprise World.

The Enterprise World solely owns all the reprint rights.

Veriswitch Solutions: The Journey The founders, initially operating as voice service providers in the carrier industry from 2000 to 2008 through a company named Trisun Communications, embarked on a new venture in 2008 with the establishment of Veriswitch. This transition marked their shift towards offering hosted switch and carrier management platform services. It represented a pivotal juncture in the founders’ journey. Over the years, Veriswitch has remained steadfast in delivering cutting-edge telecommunications solutions and has earned a reputation for having one of the most feature-rich platforms available in the market.

Products & Services Offered Veriswitch specializes in providing innovative telecommunications solutions. Over the past few years, the company has dedicated itself to ensuring the integrity of its clients’ traffic. This commitment has led to the development of "SmartShield™," a new product designed to bolster its telecommunications offerings by addressing the growing threat of telephone scams and the FCC’s increasing pressure on telecommunications providers for more aggressive intervention. Veriswitch’s portfolio includes hosted switch platform services tailored to international wholesalers, resellers, carriers, and U.S. domestic termination.

The company has adapted its platform to accommodate the specific requirements of the U.S. domestic market, incorporating features such as jurisdictional billing and number portability identification. Furthermore, it proactively addresses issues like scam calls by implementing advanced filters to combat fraud. Veriswitch’s fraud mitigation suite is capable of addressing the same threats internationally, so that carriers operating in other countries can join the fight against domestic telephone scams.

LEADERS IN SPOTLIGHT

For the cover read about -

CONTENTS

12

VERISWITCH SOLUTIONS

Journey to the Trans-Himalayan Jewel: Mustang Valley

UPSHOT

22 BLOG

Lakshadweep: A Hundred Thousand Islands

30 CASE STUDY

Hermes: Crafting Success in the World of Luxury Fashion

34 Article

Premature Gray Hair: Causes And Prevention

42

NEWS Japan’s Moon Explorer Resumes Operations After Brief Shutdown READ MORE

Japan’s robotic lunar explorer, dubbed the “Moon Sniper,” is back in action after encountering a power issue that led to a temporary shutdown just hours after successfully Japan’s Moon lander on the moon 10 days ago, according to an announcement from the Japan Aerospace Exploration Agency (JAXA) on Monday.

Oakland Corporations Intensify Safety Measures Amidst Escalating Downtown Crime Concerns

The precision landing, which occurred at 10:20 a.m. ET on January 19 (12:20 a.m. on January 20, Japan Standard Time), marked Japan as the fifth country to safely deploy a spacecraft on the lunar surface. However, the mission faced a critical setback when one of the explorer’s engines failed during landing, causing it to land facing the wrong direction. This misalignment prevented the solar cells from generating electricity, forcing the craft to rely on limited battery power.

As apprehensions about rising crime rates in downtown Oakland persist, another major business in the area, Clorxo, has implemented enhanced safety measures to protect its employees. In response to the growing fears, the renowned cleaning product manufacturer, which has had its global headquarters in Oakland for over a century, has introduced a range of initiatives aimed at safeguarding its workforce.

Communication with the Smart Lander reestablished On Monday, JAXA announced via the social media platform X that communication with the Smart Lander for Investigating Moon (SLIM) had been reestablished, and operations had resumed successfully. The explorer has also captured and transmitted new images of the lunar surface to the mission team on Earth.

Representatives from Clorox revealed that the company has enlisted the services of uniformed security guards who will accompany employees during their commutes, ensuring their safety from BART stations to the office, as well as from parking garages, restaurants, and coffee shops. This proactive measure is part of Clorox’s commitment to prioritizing the well-being of its staff in the face of escalating concerns over crime in the downtown area.

READ MORE

To conserve battery life, JAXA decided to temporarily shut down the lunar explorer, with plans to automatically restart it once the solar panel began generating power due to changes in the sun’s angle.

Japan’s moon lander ‘SLIM’ comes back to life and resumes mission | WION

FDA Issues Urgent Warning on Neptune’s Fix, Dubbed “Gas Station Heroin,” Linked to Severe Health Risks

READ MORE

In a crucial advisory, the Food and Drug Administration (FDA) is urgently cautioning consumers against the use of Warning on Neptune’s Fix, a pain supplement notorious as “gas station heroin.” The FDA has raised alarms over the presence of tianeptine in these supplements, commonly marketed under the brand name Neptune’s Fix and readily available at gas stations and convenience stores. The regulatory body has underscored the association of these products with severe side effects, ranging from seizures and loss of consciousness to fatal outcomes.

Collaborating with local and state health departments Highlighting the gravity of the situation, the FDA emphasized that the use of Neptune’s Fix may lead to life-threatening interactions with other medications a consumer might be taking. The agency is actively collaborating with local and state health departments to investigate adverse event reports associated with these supplements.

Neptune Resources, the manufacturer of these controversial supplements, has taken a proactive step by voluntarily recalling all remaining lots of Neptune’s Fix Elixir, Neptune’s Fix Extra Strength Elixir, and Neptune’s Fix Tablets. This comes in the wake of the FDA’s earlier communication to gas stations and convenience stores, urging them to cease the sale of these products.

Cover Story

Michael Hiron | Co-Founder

VERISWITCH SOLUTIONS Pioneering Innovation and Security in Telecom 12 | February 2024

Umberto Mautone | Co-Founder

T

he telecom industry, known for its perpetual evolution, is undergoing significant transformation. One striking trend is the unfortunate surge in robodial and other forms of telemarketing scams. Criminals have capitalized on this medium for fraudulent activities, compelling the industry to respond with heightened security measures. Additionally, a growing global imperative is to fortify telecom networks against criminal endeavors, such as fraud and scams. This crucial shift transcends national borders, with an increasing international appetite for robust fraud prevention solutions, exemplified by SmartShield™.

In the midst of ongoing changes within the industry landscape, Veriswitch Solutions stands out as a pioneering firm boasting nearly two decades of expertise in dynamic software and telecommunications.

Established by the visionary team of Umberto Mautone and Michael Hiron, the company has consistently adapted to address the ever-changing demands of the industry. SmartShield™ represents the latest groundbreaking development poised to revolutionize the field of fraud mitigation, embodying innovation and security at its core. Beyond its primary role in preventing fraud, SmartShield™ boasts a remarkable secondary application: evaluating the efficacy of call center agents. Organizations operating call centers for political campaigns, charitable endeavors, or major clients leverage SmartShield™ to assess agent performance meticulously. In this era of telecom transformation, Veriswitch Solutions is a prime example of an enterprising company driving innovation and security in the industry.

www.theenterpriseworld.com | 13

Veriswitch Solutions: The Journey The founders, initially operating as voice service providers in the carrier industry from 2000 to 2008 through a company named Trisun Communications, embarked on a new venture in 2008 with the establishment of Veriswitch. This transition marked their shift towards offering hosted switch and carrier management platform services. It represented a pivotal juncture in the founders’ journey. Over the years, Veriswitch has remained steadfast in delivering cutting-edge telecommunications solutions and has earned a reputation for having one of the most feature-rich platforms available in the market.

increasing pressure on telecommunications providers for more aggressive intervention. Veriswitch’s portfolio includes hosted switch platform services tailored to international wholesalers, resellers, carriers, and U.S. domestic termination. The company has adapted its platform to accommodate the specific requirements of the U.S. domestic market, incorporating features such as jurisdictional billing and number portability identification. Furthermore, it proactively addresses issues like scam calls by implementing advanced filters to combat fraud. Veriswitch’s fraud mitigation suite is capable of addressing the same threats internationally, so that carriers operating in other countries can join the fight against domestic telephone scams.

Products & Services Offered Navigating Challenges Veriswitch specializes in providing innovative telecommunications solutions.

Over the past few years, the company has dedicated itself to ensuring the integrity of its clients’ traffic. This commitment has led to the development of "SmartShield™," a new product designed to bolster its telecommunications offerings by addressing the growing threat of telephone scams and the FCC’s

14 | February 2024

During the early stages of Veriswitch, founders Umberto and Michael leveraged their extensive telecom experience to address challenges effectively. With a profound understanding of the industry, the company accurately identified potential clients and established a strong position in the market.

Cover Story The company’s commitment to transparency and honesty set it apart in an industry often plagued by exaggeration. Instead of diversifying its services, it focused on excelling in hosted platform solutions, gaining trust, and driving referrals from satisfied clients. This dedication to core expertise was pivotal in its journey to success.

The Growth Triggers Veriswitch’s remarkable growth can be traced back to several key factors. Firstly, the company fostered a culture of innovation and responsiveness by actively listening to client feedback and implementing suggestions, ensuring its platform remained cutting-edge and aligned with industry trends. The company’s commitment to reliability, exemplified by exceptional uptime and minimal disruptions, earned it a reputation as a trustworthy choice in the industry.

SmartShield™ represents a groundbreaking approach to fraud mitigation.

Leveraging the power of artificial intelligence (AI) and machine learning, this cutting-edge tool conducts real-time analysis of live calls. It goes beyond the surface and delves into behavioral patterns and contextual cues within each call to assess the probability of fraud.

Staying Ahead of the Curve Veriswitch has a long history of leading the way in telecommunications solutions. With SmartShield™, it continues to be at the forefront of the fight against call fraud and scams. The tool’s ability to adapt to evolving fraudster tactics, such as using deceptive messages upon call answering, sets it apart as a formidable defense against telecommunications fraud. In an industry where fraud prevention is paramount, SmartShield™ empowers carriers with the tools they need to protect their networks and customers. As a comprehensive and intelligent solution, it ensures that fraud prevention efforts go beyond mere promises and deliver results.

User-friendliness was another hallmark of Veriswitch’s platform, setting it apart from the often complex telecom systems. The company embraced a customer-centric approach, continuously integrating client input into its platform’s evolution, ensuring it met market demands. Importantly, the founders’ unique blend of expertise simplified intricate telecom systems, making Veriswitch’s solution accessible to a wider audience and eliminating the need for clients to maintain in-house engineers. These elements collectively triggered the company’s impressive growth in the telecommunications sector.

Introducing SmartShield™ Fraudulent calls and scams have plagued the telecommunications industry for years.

Traditional methods of analyzing caller IDs and call patterns only scratch the surface when identifying fraudulent activity. The FCC has increasingly placed the onus on carriers to take action against these threats, creating a need for more advanced tools to tackle the problem effectively. In response to this, Veriswitch has developed an innovative solution called SmartShield™.

High Speed switching infrastructure.

www.theenterpriseworld.com | 15

16 | February 2024

KEY FEATURES AND BENEFITS:

Cover Story What Sets SmartShield™ Apart?

What sets SmartShield™ apart from competing products is its innovative approach and powerful capabilities.

Ÿ User-Friendly Reports: SmartShield™ generates informative reports that provide a detailed analysis of the blocked calls, their content, red flags, and their source.

These reports empower customers to take proactive measures on their network.

Key Differentiators: Continuous Improvement through Client Feedback Ÿ Behavioral and Contextual Analysis: Unlike competing products that rely on keyword analysis, SmartShield™ utilizes artificial intelligence and machine learning to examine each call thoroughly. It assesses behavioral patterns, context, language use, intent, and even grammar. This holistic approach ensures higher accuracy in identifying fraud while reducing false positives. Ÿ Transparency and Non-Intrusiveness: Many other solutions route calls to an Interactive Voice Response (IVR) system, creating a disruptive and often ineffective experience. In contrast, SmartShield™ transparently analyzes the audio of live calls without interfering with the call’s natural flow. This means the call still reaches its intended destination while being analyzed in real-time for potential fraud. Ÿ Focus on the Originator: SmartShield™ concentrates its analysis on the originator of the call, not the recipient.

This targeted approach ensures that fraudulent calls are identified and blocked at the source while allowing legitimate calls to proceed unhindered.

Current Features and Future Enhancements SmartShield™ is currently in beta, with impressive accuracy rates ranging from 92% to 95% based on its contextual and behavioral analysis capabilities. Some key features and enhancements include: Ÿ Automated Blocking: In the future, SmartShield™ will automatically block scam calls as they occur and extend the block to all future calls originating from the same source. Ÿ Alerts and Notifications: The system administrator will receive alerts via SMS or email when SmartShield™ detects and blocks a fraudulent call, ensuring swift action can be taken. Additionally, the platform sends an email notification to the customer with a comprehensive report of the call, allowing them to take further action to stop those calls from crossing their network.

SmartShield™’s development is an ongoing journey.

Veriswitch recognizes the need for constant evolution and refinement in response to an ever-changing fraud landscape.

Client feedback plays a pivotal role in shaping the product’s capabilities. The transparency in client relationships and Veriswitch’s commitment to data privacy and security underscore its dedication to the industry’s betterment.

According to its founders, SmartShield™ is not just a product; it results from a visionary approach to solving complex problems, a testament to the power of in-house expertise, and a symbol of commitment to clients and industry integrity.

The Veriswitch Advantage Veriswitch’s unique position in the industry stems from several factors: In-House Development: Unlike many competitors that rely on external developers, Veriswitch takes pride in having a dedicated team led by co-founder Umberto Mautone. This in-house expertise allows quicker development and greater control over the product’s quality and security.

Understanding of the Industry: With deep experience in the telecom sector, Veriswitch understands the industry’s nuances better than most. This industry knowledge enables the team to create solutions that address its challenges and intricacies.

Client-Centric Approach: Veriswitch maintains a close relationship with its clients, considering them part of the Veriswitch family. The founders are hands-on, and clients have direct access to them 24/7. This commitment to partnership and personalized service has earned Veriswitch a stellar reputation.

Carrier Neutrality: Veriswitch is carrier-neutral, ensuring it doesn’t compete with its clients or compromise their interests. This neutrality fosters trust and a sense of security among Veriswitch’s clientele.

www.theenterpriseworld.com | 17

Thriving Amidst the Pandemic Challenge

Empowering Through Trust and Collaboration

Veriswitch thrived during the pandemic despite the telecom industry facing a surge in scams and spam calls. The company’s foresight in its development of robocall and scam mitigation suite early on were hard at work analyzing data and traffic patterns to counter the surge.

Veriswitch is built on a leadership philosophy that values a relaxed, trust-based work environment.

Umberto and Michael firmly believe in hiring individuals for their expertise and allowing them the freedom to excel without micromanagement. This approach fosters a culture of trust and autonomy within the team.

The company’s range of filters, such as ANI validation and the innovative Call Protection, played a pivotal role by drastically reducing the amount of randomly generated caller IDs traversing the network and flagging frequently used caller IDs associated with fraudulent calls, automatically rejecting such calls at the gate.

The landscape changed with the formation of the Traceback Group, a joint effort by the FCC and carriers to trace fraudulent calls back to their origin. Non-cooperation with this initiative was frowned upon by regulatory authorities, prompting reluctant clients to comply and take action against scams and fraud in their networks.

Leadership at Veriswitch With a television, radio, and advertising background, Michael brought a unique perspective to the telecom industry when he collaborated with Umberto early on in the carrier services business. His ability to blend creative thinking with telecom solutions led to a fruitful partnership with Umberto. Together, they co-founded Veriswitch, where Michael’s creative vision, communication skills, and brilliant marketing strategies have complemented Umberto’s technical prowess, creating a dynamic leadership team that continues to drive the company’s success and making waves in the industry.

Umberto, a computer science graduate in 1992, embarked on his professional journey at his first job with a prominent developer of medical transcription software where he developed a digital dictation system that centralized and streamlined the process of medical dictation to transcription, pioneering one of the first digital dictation systems at the time. Subsequently, he ventured into the telecom industry, where his innovative VoIP technology made significant strides in interconnecting carriers internationally. After building a substantial network and portfolio of bilateral agreements with major carriers, he transitioned from voice services to providing technology after identifying the huge potential in hosting carrier infrastructure, leading to the inception of Veriswitch. Umberto’s expertise in technology development has been instrumental in Veriswitch’s growth, innovation, and its stellar reputation in the industry.

18 | February 2024

The leadership at Veriswitch encourages a communal style of management where every team member’s input is valued. They believe the best ideas should be put forward, regardless of where they originate. This approach empowers employees and ensures the company benefits from diverse perspectives and continuous innovation.

Furthermore, the support team at Veriswitch plays a pivotal role in providing feedback and insights directly from clients. This feedback loop allows the company to make necessary improvements and streamline its products and services, ultimately making Veriswitch a stronger and more responsive organization.

Balancing Innovation, Risk, Stability, and Profitability At Veriswitch, innovation and stability go hand in hand, driven by a leadership approach that values collaboration and a lighthearted work culture. Umberto and Michael believe in maintaining a balanced approach without the need for micromanagement.

Their leadership philosophy encourages a communal style of management, where every team member’s input is valued. This collaborative environment naturally fosters innovation, allowing employees to contribute ideas and insights freely. It’s not about setting out to balance innovation and stability deliberately; it’s about creating a work culture that naturally encourages both.

Furthermore, both co-founders emphasize the importance of enjoying work and not taking themselves too seriously. While the telecom industry significantly impacts people’s lives, they maintain a lighthearted approach, believing that it’s possible to have fun while still achieving profitability and providing essential services.

Cover Story Striving for Work-Life Balance Achieving a work-life balance has been a challenge for Umberto and Michael. Their passion for what they do often means working six and a half days a week, blurring the lines between work and personal life.

Veriswitch operates in a 24/7 global environment, where phone calls never stop flowing through its network. This constant activity means being available to address issues or assist clients at any time is essential. They prioritize client satisfaction and maintain a dedicated approach to ensure clients can reach them whenever necessary.

While they acknowledge the need for work-life balance, their deep commitment to their work and clients often takes precedence. Nevertheless, they are conscious of this challenge and continue working on finding the right balance between their professional and personal lives.

Valuable Advice for Aspiring Entrepreneurs Starting a business journey can be challenging, but Umberto and Michael have some insightful advice for aspiring entrepreneurs. They emphasize the importance of hard work, dedication, and perseverance. They stress the need to be ready to tighten your belt and understand that success rarely comes overnight. Don’t shy away from hard work, as it eventually pays off.

Additionally, both highlight the significance of embracing failures as learning experiences. One of their most valuable pieces of advice is to leave pride at the door. Being open to new ideas and feedback, even if they contradict your own, can lead to better decisions and outcomes. Humility is a powerful trait for any entrepreneur.

SmartShield™ goes beyond the surface and delves into behavioral patterns and contextual cues within each call to assess the probability of fraud." www.theenterpriseworld.com | 19

22 | February 2024

M

ustang is a Tibetan word that means, “Plain of aspiration”. The Mustang Valley is located north of Annapurna in Nepal and it is very close to the Tibetan plateau (China). It is divided into two parts that are “Upper Mustang” and “Lower Mustang” which was once the former kingdom. The Valley is an isolated and remote place in Nepal. Despite being a remote location, the Valley is visited by thousands of tourists yearly. Most of the people in Mustang live along the banks of the Kali Gandaki River.

Mustang Valley has been a part of Nepal since the 18th century but its location and its status as a ‘forbidden kingdom’ have protected it from the influences of the Western world. Before it became a part of Nepal, this region was part of the Lo Kingdom, so many historical sites are located in the valley.

In the early 1960s, the Khampa people joined with other local forces in the Mustang region and started fighting against the Chinese government. As a result, China requested the Nepali government to restrict the entry of any tourists to the Mustang region as it was a link to Tibet. In 1962, all tourists were banned from entering until 1992, when the doors were reopened to tourists.

In the following article, you will find detailed information on culture, climate, famous foods, how to reach Mustang Valley, and top attractions in the region.

www.theenterpriseworld.com | 23

Mustang Valley is known for its unique culture, history, and geography.

Healing Ritual Culture: A minority of people in Mustang practice Tibetan Buddhism, and there are several monasteries and chortens (Buddhist stupas) in the region. The most wellknown and oldest monastery is the Lo Gekar Monastery.

Mustang is also known for its shamanistic beliefs and practices. The shamans, or bönpo, are highly respected in Mustang, and their healing rituals and ceremonies are an important part of the culture.

Their cuisine is also unique and reflects the region’s geography and climate.

Climate: Mustang Valley has a cool, semi-arid climate, similar to that of the trans-Himalayan region.

The region's daytime average annual temperature is approximately 10.9 °C. It is Located in the shadow of the Annapurna region, Mustang receives about 307 mm of average rainfall each year.

24 | February 2024

Thakalis are the local people of the Thak Khola region of Mustang district in Nepal.

Thakali food consists of dal, bhat, tarkari, (Lentils, rice, and vegetables), with meat for nonvegetarians, and pickles.

Thakali Food

Thakalis are the local people of the Thak Khola region of Mustang district in Nepal.

Thakali food consists of dal, bhat, tarkari, (Lentils, rice, and vegetables), with meat for nonvegetarians, and pickles.

Newari Food

Thakalis are the local people of the Thak Khola region of Mustang district in Nepal.

Thakali food consists of dal, bhat, tarkari, (Lentils, rice, and vegetables), with meat for nonvegetarians, and pickles.

Local Wines

Thakalis are the local people of the Thak Khola region of Mustang district in Nepal.

Thakali food consists of dal, bhat, tarkari, (Lentils, rice, and vegetables), with meat for nonvegetarians, and pickles.

Tibetan Bread Thakalis are the local people of the Thak Khola region of Mustang district in Nepal.

Thakali food consists of dal, bhat, tarkari, (Lentils, rice, and vegetables), with meat for nonvegetarians, and pickles.

FAMOUS FOODS

Khapse Defining the region from the food choices, different people from different ethnicities have different food choices in Nepal. As Mustang Valley is rich in culture and tradition, where different cultural groups are located, you must try the local cuisine of those places.

www.theenterpriseworld.com | 25

How to reach Mustang Valley?

26 | February 2024

To reach Mustang, tourists can take a flight to Pokhara from Kathmandu. From Pokhara, they can take a bus, or taxi, or rent a bike. It takes around 6-8 hours to reach Jomsom, which is the starting point of the Lo Kingdom in Upper Mustang via Prithvi Highway.

Top Attractions in Mustang Region: 1) Kali Gandaki River: The Kali Gandaki River also known as Mustang Khola Nhubine Himal Glacier at the border with Tibet at an elevation of 6,268 metres (20,564 ft) in the Mustang Valley of Nepal. The Gandaki River is the deepest river of Nepal. This river is considered as one of the holy rivers of Nepal.

2) Jomsom Muktinath Trek: Visiting Jomsom can be an unforgettable experience, offering beauty and unique cultural encounters. The trail offers wonderful sights of snow-covered mountains, including the Annapurna and Dhaulagiri ranges. It offers a unique symbol of the Tibetan-influenced culture. The Jomsom Muktinath Trek takes you through the deepest gorge in the world, the Kali Gandaki River Gorge.

3) Muktinath Temple: Muktinath Temple is one of the most important pilgrimage sites in the Mustang area of Nepal. It is also known as the “Place of Liberation”. The temple is situated at 3,800m above sea level and has a unique combination of Hindu and Buddhist architecture. The golden pinnacle of the temple represents the holiness of the place. The temple can be visited by trekking or by road and air transportation. Due to its restricted area in Upper Mustang, the temple needs a special permit for entry. The cultural harmony of Muktinath is a reflection of Nepal’s spiritual diversity.

4) Ghar Gompa: Ghar Gomba, also recognized as Ghar Monastery or Ghar Gompa, is a famous Buddhist monastery situated in the Mustang district of Nepal. Ghar Gomba is situated on a hilltop at an elevation of approximately 3,800 meters (12,467 feet) above sea level. The village of Ghar is situated in the upper Mustang area, which lies to the north of the Annapurna and Dhaulagiri mountain ranges.

5) Marpha Monastery: Marpha Monastery is Located at an elevated place, with calm surroundings, a holy ambiance friendly atmosphere, and impressive architecture. It is also known as Tashi Lha Khang Gompa which was built around 200 years ago and belongs to the Karma Pa sect of Buddhism. This monastery situated in Marpha is revered by Amitabha, Vajrapani, Avalokiteswora, and Guru Padmasambhava Rinpoche.

6) Upper Mustang: It is located in the northwest part of Nepal, on the border with Tibet. Also known as the “Forbidden Kingdom,” Upper Mustang was closed to tourists until 1992 and is rich in Tibetan culture and tradition. It offers an insight into the ancient way of life of the people. The landscape is arid, TransHimalayan, with vast desert plains and spectacular mountain views. The capital city of Lo Manthang is famous for its well-preserved Tibetan architecture and monastic sites. Upper Mustang is a restricted area and requires a special permit to enter. Tourists can visit the Upper Mustang on the trek to explore unique landscapes, orchards, and cultural treasures.

7) Thubchen Gompa: Thubchen Gompa is one of the oldest and most sacred Buddhist monasteries in the world. It is located at the heart of the Mustang Valley in Nepal. It is a classic example of traditional Tibetan Buddhist architecture, built in the Sakya pa style. It is still active today and is still visited by people who believe in Tibetan culture. The walls of the monastery are full of details that tell stories of different times and represent one of the greatest periods of creativity in the history of Tibet. A visit here is a peaceful experience that connects you to the culture of Mustang and to the long-lasting spiritual practices of the people who live there.

MUKTINATH TEMPLE

GHAR GOMPA

8) Bara Gaon: Bara Gaon means 'twelve villages' in Nepali, and it refers to the villages in the region generally known as Lower Mustang 9) Lowa Art Gallery and bookshop: It is the most attractive local Art Gallery of Tanka Art and Mandala Art and Book Store located in the center of Lo Manthang near the main monasteries.

THUBCHEN GOMPA www.theenterpriseworld.com | 27

Questions and Answers related to Mustang Valley: 1) Can you get to Mustang Valley from Nepal?

Ans: It is located in the northern-central part of Nepal and shares a border with Tibet. The most common way to get to the valley is to take a flight to Pokhara's Jomsom airport. However, some people prefer to trek to the valley from different areas of Nepal.

2) When is the best time to visit the valley?

Ans: The best times to visit the valley are during the spring and fall months when the weather conditions are more favorable. You must have a special permit to enter the valley, known as a "Mustang Reservation Area Permit".

3) What are the popular trekking paths in the valley?

Ans: Some of the most popular trekking routes in the valley are the Upper Mustang trek, Annapurna Circuit, etc.

4) Are there any lodgings or tea-houses near the valley?

Ans: Yes, there are guesthouses near the valley that offer basic lodging and meals.

5) What are the top cultural attractions in Mustang?

Ans: It is famous for its ancient monastery, caves, and unique Tibetan culture. Lo Manthang is one of the cultural highlights of the valley.

6) How long does it take to trek to Mustang Valley?

Ans: The trek to the valley varies depending on the route you choose. For the Upper Mustang trek, it usually takes about 10-15 days.

7) Can I hire a guide and a porter for my trek?

Ans: Yes, you can hire a local guide and if necessary a porter for your trek.

28 | February 2024

Conclusion: In short, Mustang Valley is located at 3,840m above sea level in the northwest part of Nepal. It is a unique region with arid Trans Himalayan landscapes, rich cultural diversity, and a majestic environment. It is divided into Upper & Lower Mustang. The region is rich in tradition, topography, and natural beauty.

Muktinath temple is a famous pilgrimage place that attracts devotees from all over the world. Many passes within the area offer wonderful views for trekkers. Cycling enthusiasts are happy to explore the region’s valleys and landscapes on mountain bikes.

Ultimately, the Mustang Valley transcends its borders to become a symphony of natural beauty, culture, and adventure.

Nepal, and the Mustang region in particular, contributes to the beauty of our planet by creating an extraordinary piece of earth.

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C A S E S T U D Y 34 | February 2024

CRAFTING SUCCESS IN THE WORLD OF LUXURY FASHION

W

e all dream of owning those popular luxury items, especially from the fashion capitals like Milan, New York, and Paris, where the most reputed fashion brands come from. Every brand has an inspirational story. Have you ever thought about the story behind these brands? The stories of their origin, the cities they came from?

When we talk about luxury, heritage, craftsmanship, and stylishness in ultraluxury leather and silk products, there's one name that easily comes to our mind – Hermes. In this article, we will get to know the story of this unique luxury brand.

Let's go through the deep story of the brand, from selling Haut à Courroies (saddle bags) to Hermès Birkin. In short, let's discuss the origin, history, marketing strategies, and market presence of the brand.

Hermès Birkin bag

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Y

Moved to 24 Rue Du Faubourg SaintHonore in Paris in 1880

Hermes offered items that met society's needs during the interwar period in 1992

First men's ready-to-wear garments were introduced in 1925

The first silk scarf was made with Jeu des Omnibus et Dames Blanches in 1937

Tie was introduced in 1949

The start of success after The Kelly bag in 1956

The first women's readyto-wear collection was introduced In 1967

New Métier, Beauty Creation in 2020

C

A

S

Birkin bag was introduced in 1984

Hermes opened its 19th leather workshop, located in Guyenne (Gironde) in 2021

E

S

T

U

Thierry Hermes founded the company in 1837

D

History of Hermes:

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Challenges Faced By Hermes: 1. Continuous takeover interest from LVMH: The brand has faced persistent takeover interest from rival LVMH, which quietly acquired a 17% stake between 2002 and 2010. This led to a legal dispute, resulting in LVMH selling down its stake. The brand defends its independence through a private holding company with the first right of rejection for family share sales, preventing LVMH takeover.

In 2011, over 50 Hermès successors formed a co-operative named H51, holding 50.2% of shares and assuring not to sell it for two decades. Two family members outside the cooperative also resisted LVMH, ensuring that the brand operates independently.

2. Succeeding in China: The brand is taking a careful and creative approach to enter into China's luxury market. Despite being in China since 1997, they have opened only one store each year since 2015. They plan to make each store a special experience, highlighting craftsmanship and connecting with China's traditions. This is different from the developing shopping culture in Asia. In 2012, they also launched Shang Xia, a Chinese luxury brand that focuses on Chinese craftsmanship. The company keeps its brand exclusive by avoiding flashy displays, logos, and celebrity advertisements that are suitable with the government's restriction on excessive displays of wealth. However, whether this strategy works depends on how Chinese consumers view luxury Products.

3. Strengthening the Hermes brand equity beyond leather and silk: The brand is known for its luxury leather and silk products and is working on strengthening its brand in other categories. For example, its watchmaking division, La Montre Hermès, has a 90-year history but only contributed 3% to the brand's total revenue in 2019. The newly appointed CEO sees potential for qualitative growth but admits it will be a slow journey to establish the watchmaking division.

Similarly, other categories like perfumes and jewelry are growing in sales, but they haven't reached the success levels of the leather and saddlery products division. They aim to build stronger brand equity beyond its traditional strengths in leather and silk.

Strengthening the Hermes brand equity beyond leather and silk

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Y

Top 5 Competitors of Hermes:

2. Christian Dior: The brand was established in 1946 and controlled and chaired by French businessman Bernard Arnault, The brand is famous for perfumes and cosmetics, watches and jewellery, and fashion and leather goods.

S

T

U

D

1. Chanel: It is a private company owned by the Wertheimer family and the headquarters of the company is located in London. The brand specializes in women's ready-to-wear clothes, luxury products, and other accessories.

4. Ralph Lauren.: The brand was established by Ralph Lauren an American fashion designer in 1967 and the headquarters of the company is located in New York. The company produces products ranging from the mid-range to the luxury segments.

C

A

S

E

3. Burberry: The brand was established in 1856 by Thomas Burberry, and the headquarters of the brand is located in London. The brand designs and distributes ready-to-wear garments including trench coats, leather accessories, and footwear.

5. Prada: It is a luxury Fashion brand established in 1913 in Milan by Mario Prada. It is famous for its leather handbags, travel accessories, shoes, ready-to-wear garments, and other accessories

Hermès Birkin bag

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Marketing strategies of Hermes: 1. Preserve the brand identity as a luxury brand while adapting to market trends and customer's needs.

4. The brand used social media to show its products, stores, and collaborations.

2. Various marketing strategies like branding with its classic luxurious products, advertisements, campaigns, and collaborations.

5. The brand has also collaborated with Apple to create a limited edition Apple watch for their customers.

3. The brand targets high-net-worth individuals who appreciate the quality of luxury goods

6. The brand's exclusive products help to maintain the brand's position as a symbol of luxury.

Well-known marketing campaigns of Hermes: 1938

Kelly en Perles

J'aime mon Carre Ka Maison des Carres Festival des Metiers

Leather Forever

2011

2015

Hermes Editeur Hermes Horse Exhibitions

2014

2012

Wanderland

2013

2018

Hermesistible

2016

The Gift of Time

Hermes Silk Mix

2020

Hermes Beauty

Hermes Upcycling

2019

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Market Value of Hermes:

As of January 2024, the brand holds a market capitalization of $211.87 billion, ranking as the 49th most valuable company globally. In 2022, it made a worldwide total revenue of approximately 11.6 billion euros and a growth of over 20% compared to the previous year.

11,602

15,000

8,982 2022

2021

6,389 2020

6,883 2019

5,966

5,549 2017

2018

5,202.2

4,841 2015

4,118.6 2014

3,754.8 2013

3,484.1 2012

2011

2,400.8

1.914.3 2009

2010

1.764.6

0

2008

2,500

1,625.1

5,000

2,841.2

7,500

2016

10,000

2007

Revenue in million euros

12,500

FAQs:

Source- Total revenue of Hermès worldwide from 2007 to 2022 - statista

1. What is the Hermes brand best known for?

Ans: The brand is famous for its exclusive handbags.

2. What is the price of a Kelly bag?

Ans: The Iconic Kelly bag comes in various sizes whereas Kelly 20cm would cost around $8,250.

3. What are the most popular Hermes bags in 2023?

Ans: Hermès Birkin 30 en Desordre was the most popular bag in 2023.

4. What is the cheapest Hermes-Paris bag type?

Ans: Aline Bag is the cheapest item worth $1,925.

5. Are Hermes-Paris bags an investment?

Ans: It is the best option if you are looking for the highest ROI on luxury goods.

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Lakshadweep is like a real-life Avalon, a mysterious island from the Arthurian legend. Similar to the Avalon’s legendary charm, Lakshadweep islands are known for its beautiful and isolated coral atolls. It also features stunning lagoons that disguise many biodiverse mysteries beneath their surface. In Lakshadweep, cultural treasures and vibrant marine life create a unique attraction, making it a real-world counterpart to the legendary Avalon. It’s a place where time seems to stand still, and the boundaries between reality and fantasy blur. This article makes that boundary a bit clear and denes everything you need to know about Lakshadweep islands.

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HISTORY OF LAKSHADWEEP 44 | February 2024

Arrival of a Muslim saint Legend has it that a Muslim saint, guided by a dream of the Prophet, traveled to Lakshadweep to spread Islam. Initially rejected, a girl fell in love with him, leading to conflict. The saint's prayers caused temporary blindness, and when he left, sight returned. Through miracles, he won people's trust, and Lakshadweep embraced Islam, blending Islamic and Hindu traditions. Today, his grave on Andrott Island remains sacred.

The Race between India and Pakistan In 1947, right after India gained independence, Pakistan eyed Lakshadweep despite the geographical distance. Sardar Patel, the Home Minister, swiftly acted.

The Mudaliyar brothers from Malabar, with a limited battalion and scarce weapons, hoisted the Indian flag on Lakshadweep on Patel's orders. Just in time, a ship with a Pakistani flag approached, creating a nail-biting situation!

First humans to set foot on Lakshadweep King Perumal of the Chera dynasty is believed to have converted to Islam and left for Mecca from his Malabar empire in the 7th century. Hindu sailors who were searching for him landed on Bangaram island after their ship was wrecked in a storm near Lakshadweep. When they returned to Malabar, they explored other Lakshadweep islands.

Later, a group from Malabar, including sailors and soldiers, settled permanently on Amini Island.

The Portuguese & British invasion In the 1490s, the Portuguese attempted to colonize Kochi but were driven away. They then turned Lakshadweep into a seafarers' hub, exploiting coconut coir. Islanders cleverly ousted them later.

Over time, Lakshadweep's rule shifted among Malabar royal houses, eventually under the care of the Arakkal family. Dissatisfied with oppressive rulers, islanders sought help from Tipu Sultan in Mangalore, Karnataka. Following discussions, Tipu gained control over parts of Lakshadweep.

After Tipu's demise in the 1790s, the British acquired five islands under him. This might explain the rare presence of Kannada speakers in Lakshadweep.

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These points broadly summarize the history of Lakshadweep Islands. However there are many more such tales that define the mystique of this place.

ECONOMY OF LAKSHADWEEP ISLANDS Agriculture and shing: Lakshadweep relies on coconut palms for agriculture, exporting copra to the mainland. In certain areas, coral removal and organic fertilization enable the cultivation of bananas, vegetables, root crops, and millet. Fishing, especially for tuna, is a significant economic activity, with skilled navigators using traditional boats called odam to sail between islands and the mainland.

Manufacturing: Lakshadweep’s main industry revolves around fish processing, particularly tuna. Minicoy hosts a tuna cannery and follows traditional bonito drying methods. Other manufacturing activities in the region include coir production, hosiery production, weaving, and boat building.

Lakshadweep Tourism: Lakshadweep promotes responsible tourism with mandatory permits and governmentsponsored tour packages. Additionally, the islands boast vibrant coral reefs and pristine beaches, offering a unique natural experience.

Transportation: Lakshadweep is linked to mainland India by sea and air. The nearest seaport is Kozhikode and ships to the islands depart from Kochi. Agatti Island has an airport with regular flights to and from Kochi. Helicopter services connect the mainland and islands.

However, Lakshadweep has limited road infrastructure, with only a few miles of roads.

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Eco-System at Lakshadweep

Ÿ Why visit Lakshadweep?

Ÿ Land and Climate:

Just 10m from the shore, dive into turquoise waters to discover vibrant coral and Nemo (yes, the Clownfish).

The islands, surrounded by coconut groves, offer constant sea views as you drive. With a small population of 66,000, it feels like there are more coconut trees than people. Lakshadweep’s regulated tourism preserves its marine and land ecosystems, creating an eco-friendly haven. For an affordable beach getaway with India’s cleanest shores, head to the less-explored Lakshadweep.

Lakshadweep consists of small islands, without exceeding the width of 1 mile. The Amindivis are the northmost, and Minicoy is the southmost. Inhabited islands are mostly coral atolls, with higher eastern sides suitable for living and lagoons on the west protecting from monsoons. The sandy soils are coral-derived. Temperatures range from about 70 °F to nearly 90 °F throughout the year. Cyclones rarely make landfall on the Arabian Sea islands, but their associated winds and waves can alter the topography. Ÿ Plant and Animal Life: Lakshadweep Islands teems with coconut palms and diverse trees, including banyans, casuarinas, pandani (screw pines), breadfruits, tamarinds, and tropical almonds. Betel nuts and betel leaves thrive here. In the surrounding waters, sharks, bonitos, tunas, snappers, and flying fish are prominent, while manta rays, octopuses, crabs, turtles, and various gastropods abound. The islands also host a variety of water birds like herons, teals, and gulls. Ÿ People and Faith: People in Lakshadweep, except on Minicoy, trace their roots to migrants from the Malabar Coast in southwest India, arriving before the 7th century CE. These migrants, later converting to Islam, established the predominant religion in Lakshadweep. While Islam is the main faith, remnants of the original Hindu migrants’ religious and social practices persist, as seen in matrilineal kinship and caste-like groups. Malayalam is the primary language, with Mahi spoken on Minicoy and some Hindi speakers. The population is concentrated on Andrott, Kavaratti, Minicoy, and Amini islands.

What, Where, and Why Lakshadweep Islands? Ÿ What and where is Lakshadweep?

Located 500 km southwest of Kochi, the 4200 sq km lagoon land of Lakshadweep comprises 36 islands, of which only ten are inhabited, covering a total landmass of 32 sqm. Despite its political and historical connection to India, it remains somewhat isolated from mainland developments. The islands faced challenges due to the delayed communication of Gandhi’s assassination, which took 14 days to reach them. Primarily dependent on imports, from tissue paper to vegetables and electricity, everything comes from the Indian mainland, as the islands lack power plants for electricity generation.

Ÿ How to reach Lakshadweep?

Start your Lakshadweep journey in Kochi, Kerala, accessible by cruise or flight. Kochi, a delightful blend of colonial and Malabar architecture, offers a fascinating start. Spend a few days exploring this vibrant city before choosing between a flight or cruise to Lakshadweep Islands based on your preferences. Once on the islands, walking is sufficient, as they are easily navigable. Boats are the primary mode of transport, and while there’s a chopper service, it’s pricier for island hopping.

Best Things to do in Lakshadweep: A Group of 36 Islands 1. Don’t miss the beautiful view during Agatti’s landing After landing at 30+ airports worldwide, most flights are uneventful. Ladakh stands out with its stunning Himalayan views, but nothing compares to Agatti’s runway, Measuring 7 km on Google Maps. A 120m-wide black runway, seemingly floating amid turquoise waters, bordered by green bushes and white sand. It is one of the most beautiful sights as your first glimpse of this island paradise is from the plane. Capturing the moment is like securing a Lakshadweep travel permit – challenging.

2. Go Scuba Diving and Snorkeling Dive into the wonders of Lakshadweep Islands through scuba diving and snorkeling. Although smaller than the Red Sea in marine life, it’s perfect for occasional divers.

Boats take you to prime diving spots, while just a short walk from your room unveils a psychedelic underwater world for snorkeling. Wear water-resistant shoes to explore sunken shipwrecks with metal plates underneath.

The underwater is covered with vibrant corals and fish, disconnecting you from the everyday hustle. Experience the magical transition from chirping birds to the soothing sound of flowing water. The diving instructors there can summon a school of fish with a snap, creating a mesmerizing underwater spectacle.

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3. Have a hammock dream.

Lie back and dream in a hammock amid the mesmerizing beauty of Lakshadweep. For non-avid sailors, the irresistible beachscape keeps us outdoors, away from our rooms. The soft sand is inviting, but locals frequent the beach in the evening. For a peaceful nap, savor your heavenly “Me Time,” observing palm leaves sway and the turquoise water transforms into golden hues.

4. Explore Islands and Fishing Adventures.

Fall in love with an island, where the coral world is a short walk away, and good food is always at your fingertips. The true charm, however, lies in scuba diving and boat rides.

Engage with local boatmen and learn the art of fishing with sharp hooks. Witness fishermen patiently waiting with widespread nets in shallow lagoons. Despite not spotting turtles while diving, the fishermen had caught one in their nets, releasing it back into the sea. As a seafood enthusiast, relish the delicious catch cooked by boatmen, offering an authentic taste of Lakshadweep. Experience island hopping, engage in fishing, and savor the best Lakshadweep cuisine.

5. Sunset Magic in Lakshadweep Islands Lakshadweep offers a unique sunset experience. There is no need to scout for the perfect spot, whether on the beach with kids flying kites or on a boat heading back to Kavaratti, facing west unveils a mesmerizing sunset. The sun, seemingly larger, paints the turquoise waters in shades of gray and copper. The beauty of Lakshadweep is that you can savor this magical moment without any prior planning.

Just face west and let the enchantment unfold.

Lakshadweep vs Maldives: A Closer Look into the Controversy The Indian Prime Minister, Narendra Modi’s recent visit to Lakshadweep on January 2, 2024, has triggered a significant shift in travel plans for many Indians, diverting attention from the Maldives. While this move is beneficial for the Indian economy, questions arise about Lakshadweep’s readiness for a sudden surge in tourism.

Obtaining a permit is a prerequisite for visiting Lakshadweep, even for Indian citizens, setting it apart from more accessible destinations like Andamans or Pondicherry.

Striking a balance, the local authorities must manage tourist inflow to prevent over-tourism and maintain the island’s unique charm.

With the local community’s pride and love for Lakshadweep Islands, there is confidence that conscious travel practices will be embraced. Tourists must view these

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places beyond being mere backdrops for Instagram selfies. As we advocate to “Save the earth,” let’s remember that nature has its ways of preserving itself, urging us to travel responsibly and respect the destinations we explore.

Why Choose Lakshadweep over Maldives?

Lakshadweep has a unique charm that might make it a preferred choice over the Maldives. Here’s why: 1. Less Crowded: Lakshadweep is quieter and less crowded than the Maldives. Strict entry regulations help maintain the islands’ pristine beauty, offering a more serene and secluded atmosphere.

2. Authentic Cultural Experience: Lakshadweep provides a genuine Indian cultural experience. Interact with local communities, learn about traditions, and immerse yourself in an authentic cultural environment.

3. Untouched Natural Beauty: Known for its untouched natural beauty, Lakshadweep boasts pristine coral reefs, lagoons, and marine life—ideal for nature lovers and those into underwater activities.

4. Biodiversity: Home to diverse marine life, including various fish, coral, and turtles, Lakshadweep is a paradise for snorkeling and diving enthusiasts.

5. Government Regulations: Strict government regulations in Lakshadweep preserve ecological balance and promote sustainability, making it an attractive destination for environmentally conscious travelers.

6. Less Commercialized: Lakshadweep is less commercialized than the Maldives, offering an off-the-beaten-path experience. Limited tourist infrastructure contributes to a more authentic and unspoiled environment.

7. Cost Considerations: Traveling to Lakshadweep can be more cost-effective compared to international destinations like the Maldives, eliminating the need for international flights.

Comparison of Trip Costs: Lakshadweep vs. Maldives Here is a detailed breakdown of the estimated expenses for a romantic getaway to the enchanting destinations of Lakshadweep and the Maldives. From flight costs to daily expenditures, this comparison aims to assist travelers in making an informed decision based on their preferences and financial plans.

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