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Sri Lanka welcomes over 1.9 million tourists, eyes record-breaking year

Sri Lanka welcomes over 1.9 million tourists, eyes record-breaking year

Daily FT: Sri Lanka Tourism Development Authority (SLTDA) Chairman Buddhika Hewawasam has said the sector is on track to end 2024 on a high, with year-to-date (YTD) arrivals crossing 1.9 million and over 70,000 tourists registered in the first half of December.
Speaking on the industry’s resurgence, he expressed optimism that the country could welcome over 250,000 visitors this month, pushing the annual total to an estimated 2.2 million.
Hewawasam said if achieved, this would mark the highest annual arrivals since the 2018 benchmark year, which drew a record-breaking 2.33 million visitors.
“We have maintained around 21% year-on-year (YoY) growth so far and are confident of surpassing 2 million arrivals,” he opined, attributing the boost to policy changes under the new administration. These included the removal of visa restrictions and efforts to create a harmonious environment for travellers.
“This year’s growth serves as a foundation for our real target of 3 million arrivals and $ 5 billion in revenue next year,” he added, asserting the industry’s upward trajectory.
Hewawasam described the rebound as a “prosperous pathway” for Sri Lanka Tourism, with a strong finish to 2024 laying the foundation for ambitious goals in the coming years.
“We are reaching our targets this year, while setting the foundation for real growth for 3 million arrivals and $ 5 billion revenue for next year and for the next five years,” he stressed.
Hewawasam said the SLTDA is focused on sustained growth and establishing Sri Lanka as a premier global destination.

OSL take:
The steady growth in the local tourism industry has generated much revenue to Sri Lanka while presenting a host of new business/investment opportunities in the industry. The increasing opportunities in the tourism industry covers many sectors in the industry especially in the leisure and hospitality sectors. The development of infrastructure and supplementary infrastructure facilities in the key sectors in the tourism industry has witnessed an expansion of business/investment opportunities due to the growing demand in the industry. The growing business potential in Sri Lanka’s tourism industry, especially in the leisure and hospitality sectors, is evident by the interest shown by international leisure and hospitality brands to enter Sri Lanka. Foreign businesses/investors could therefore confidently explore the expanding, lucrative business/investment opportunities in Sri Lanka’s tourism industry.

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Article Code : VBS/AT/20241218/Z_4

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