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Sri Lanka targets US$ 5 billion revenue from tourism in 2020

Sri Lanka targets US$ 5 billion revenue from tourism in 2020

A senior Sri Lankan minister has reportedly said that Sri Lanka Tourism is optimistic of pursuing an ambitious target by doubling their 2019 numbers to four million arrivals and accelerating revenue from US$ 3.5 billion last year to US$ 5 billion in 2020.
“We are very optimistic about this year. The goal we want to chase is anything between 3.5 to 4 million tourist arrivals and an income of around $ 5 billion by the end of this year,” Sri Lanka’s Tourism Minister Prasanna Ranatunga has told the Daily FT.
The Minister has told the local media that a new long-term marketing plan to boost Sri Lanka Tourism has been finalised for the consideration of the industry and the Government within the next few weeks.
“The ‘So Sri Lanka’ tagline will continue, with a new marketing strategy. Officials of Sri Lanka Tourism is currently finalising on the new strategy,” Ranatunga has said.
The Minister has further noted that the government hopes to see the average daily spending to increase from US$ 180 to US$ 210, while also expecting the average stay of a traveler to be extended from eight days to 10 days or more by the end of this year.
“President Gotabaya Rajapaksa has identified tourism as a thrust sector and he has encouraged us to set optimistic, higher targets for the industry. Even if we fall short of the target within the given timeframe, the achievement would still be beyond the potential,” the Minister has added.
According to Ranatunga, this was one of the reasons why the Sri Lankan government’s previously outlined US$ 10 billion industry with seven million tourist arrivals by 2030 target was fast forwarded to 2025.

OSL take:

Sri Lanka’s tourism industry is on a continuous growth path with tourist arrivals to the country also on the increase. Sri Lanka continues to be listed as a must visit destination by globally renowned travel publications. All this has resulted in an increase in foreign investments to the country’s tourist industry. The continuous growth in Sri Lanka’s tourism industry has further expanded the business potential in the country’s leisure and hospitality sectors.

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Article Code : VBS/AT/20200128/Z_6

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