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Sri Lanka targets 3 million tourists in 2025

Sri Lanka targets 3 million tourists in 2025

The Morning: Sri Lanka is poised to make a significant leap in its tourism industry, aiming for three million tourist arrivals in 2025.
This ambitious target comes on the heels of a projected 2.1 million visitors in 2024 as the nation steadily recovers from the economic challenges it faced in recent years.
The Sri Lanka Tourism Development Authority (SLTDA), under the leadership of its newly appointed Chairperson Buddhika Hewawasam, is spearheading several reforms and initiatives to strengthen the sector and attract more international visitors.
To streamline and enhance the industry’s operations, a National Tourism Commission is being established. This new governing body will consolidate four state agencies currently overseeing tourism, including a hotel school.
The commission will ensure cohesive policy implementation and foster industry growth.
Additionally, a Tourism Policy Formulation Council comprising experts from diverse fields will be set up to provide strategic guidance and support to the sector.
Hewawasam announced these initiatives at the Sri Lanka Tourism Awards ceremony, held in Colombo on 24 December 2024, marking the awards’ revival after a five-year hiatus.
Sri Lanka’s government has set a goal of generating $ 5 billion in tourism revenue by 2025, providing much-needed foreign exchange for the recovering economy. Tourism revenue surged from $ 1.1 billion in 2022 to $ 2.1 billion in 2023.
For the period between January and November 2024, revenue reached $ 2.8 billion, up from $ 1.8 billion during the same period in 2023.
Tourist arrivals have shown a consistent upward trend.
From January to November 2024, Sri Lanka welcomed 1.8 million visitors, compared to 1.3 million during the same period in 2023.
The year-end target for 2024 is set at over two million arrivals, with key source markets including India, Russia, the UK, Germany, and China.
At the tourism awards ceremony, PATA (Pacific Asia Travel Association) CEO Noor Ahmad highlighted Sri Lanka’s unique identity as a destination steeped in history and culture. He emphasised the country’s compelling legends, ancient kingdoms, and vibrant Buddhist festivals, which form the backbone of its tourism appeal.
To support the sector’s growth, the government is enhancing infrastructure, simplifying visa processes, and driving international collaborations. Plans to develop a direct air route with Japan, a key partner, exemplify these efforts. Sri Lanka is also prioritising sustainability in its tourism strategies.

OSL take:
Sri Lanka’s tourism industry is on a steady growth path and has become a key revenue generator for the country. The continuing growth and increasing targets set by the country’s tourism industry indicates the overall expansion in business/investment opportunities in the industry and related sectors. Apart from the business/investment opportunities in the development of infrastructure and supplementary infrastructure facilities required by the tourism industry to meet the growing demand, there are increasing opportunities in the leisure and hospitality sectors. The increasing business potential in Sri Lanka’s tourism industry is evident by the interest shown by international leisure and hospitality brands to explore opportunities in the industry. Given all these positive movements, that are further boosted by global recognition of Sri Lanka as a must visit tourist destination, foreign businesses/investors could confidently explore the expanding business/investment opportunities in the tourism industry as well as look at forming collaborations with local businesses in the field in order to further expand operations.

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Article Code : VBS/AT/20250107/Z_5

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