Sri Lanka approves 25 recommendations to boost tourism industry for faster economic revival
Daily FT: The Cabinet of Ministers at its meeting on Monday approved 25 recommendations submitted by a six-member Ministerial Sub-Committee and implemented to boost the tourism industry to ensure a faster revival of the economy.
Originally on 30 May a six-member Ministerial sub-committee headed by Ports, Shipping and Aviation Services Minister Nimal Siripala de Silva was appointed to identify the challenges in the industry and make recommendations to promote the tourism sector utilising the existing opportunities in the most effective manner.
Following the compilation of the full report of the Ministerial sub-committee, the proposal to implement the recommendations in the report submitted by Tourism Minister Harin Fernando was approved by the Cabinet of Ministers.
OSL take:
Sri Lanka’s tourism industry was one of the fastest growing sectors when hit by the global pandemic and the economic crisis that followed it. However, the industry is once again on the growth path with a steady growth in tourist arrivals to the country. The aggressive promotional campaigns carried our by the tourism authorities, the new tourism concepts being explored and the exposure received by the island as a must visit tourist destination have all helped boost Sri Lanka’s tourism industry. The growth had also resulted on the expansion of business/investment opportunities in the tourism industry, especially in the leisure and hospitality sectors. The growing business potential in Sri Lanka’s tourism industry is further confirmed by the interest shown by international leisure and hospitality brands to enter the country. Also, the growing need for the development of supplementary infrastructure facilities required with the growing tourism industry present a host of new business/investment opportunities in Sri Lanka’s tourism industry.
| Article Code : | VBS/AT/20230630/Z_2 |