Sri Lanka’s tourism boom expected to surpass 2018 peak
The Morning: Tourism and Lands Ministry Secretary Somarathne Vidanapathirana stated that 1,095,675 tourists have arrived in Sri Lanka as of 15 July.
He expressed optimism that the country could surpass its 2018 tourism peak, achieved post-war, if current trends continue.
Addressing the press briefing titled ‘Two Years of Progress and Advancement’, held at the Presidential Media Centre (PMC) recently, he highlighted the significant setbacks the tourism industry faced due to the Easter attacks, the Covid-19 pandemic, and the economic crisis.
However, he noted that the concerted efforts of the Ministry of Tourism and its affiliated institutions have led to a promising recovery.
Accordingly, in 2022, 719,978 tourists visited Sri Lanka, and the number rose to 1,487,303 in 2023.
By 15 July, Sri Lanka had already welcomed 1,095,675 tourists. This trend suggests that the number of visitors by the end of the year could surpass the totals of the past two years.
The tourism sector in Sri Lanka reached its peak in 2018, with 2,333,796 visitors and $ 4.4 billion in revenue. If the current positive trend continues, the number of foreign tourists and the income generated by the end of 2024 could exceed those of 2018.
In 2022 and 2023, the total number of local tourists to Sri Lanka’s botanical gardens reached 1,773,048 and 1,925,129, respectively. Among these, foreign tourists numbered 103,322 in 2022 and 227,729 in 2023.
Notably, the arrival of local tourists increased by 148 percent in 2022 and by nine percent in 2023 compared to the previous year. Meanwhile, foreign tourist arrivals surged by 461 percent in 2022 and 120 percent in 2023.
By June 2024, the botanical gardens welcomed 965,468 local tourists and 183,674 foreign tourists. This represents a 96 percent increase in foreign tourist visits compared to the same period last year.
In 2018, 2,333,796 tourists arrived in Sri Lanka. Starting in 2023, there has been a significant resurgence in tourist arrivals. By the end of 2023, the number of tourists had increased to 1,487,303.
As of July 15, 2024, this number reached 1,095,675, indicating a strong upward trend. Additionally, tourism revenue from January to June 2024 amounted to $ 1,556.64 million.
OSL take:
Sri Lanka’s tourism industry is on a steady growth path with a record number of foreign travelers visiting the country. Apart from the tourism industry, this growth has also recorded an expansion in Sri Lanka’s airport and aviation industries. The Sri Lankan government has already taken measures to expand the country’s airport and aviation sectors to meet the increasing demand due to the growth in the number of travelers to the country. This move has also opened up a host of business/investment opportunities in Sri Lanka’s airport and aviation industries. However, the growth in the tourism industry has already attracted foreign businesses/investors, especially international leisure and hospitality brands, that have expressed interest in entering Sri Lanka. There are also business/investment opportunities in the development of infrastructure and supplementary infrastructure facilities required by the tourism and airport and aviation industries. Given the growth and business potential in Sri Lanka, foreign businesses/investors could explore the expanding opportunities in the country’s tourism, airport and aviation industries.