Sri Lanka’s Tourism Development Minister says Sri Lanka Tourism targets a US$ 4.4bn revenue this year
Sri Lanka’s Minister for Tourism Development and Christian Religious Affairs, John Amaratunge has reportedly said that Sri Lanka Tourism will target a revenue of US$ 4.4 billion this year.
Sri Lanka gained a revenue of US$ 3.9 billion in 2017.
Amaratunge has told the media that the tourism industry has already shown a growth of 24% this year and will move from the current third position to be the top foreign exchange earner for Sri Lanka soon. The Minister also said that they have taken quick steps against harassment and physical assault of tourists in Mirrisa recently by locals in the area.
The latest data released by Sri Lanka Tourism Development Authority (SLTDA) has recorded that tourist arrivals in March have increased by 24.1% to 233,382 from 188,076 in the corresponding month of last year.
According to reports, the total arrivals in the first three months were up 17.1% to 707,924. In February the increase was 19.3% and in January the increase was 12.6%.
Statistics reveal that India has regained its status as the number one source market in March, up 13% to 27,075 arrivals.
Traditional markets like the United Kingdom has followed second with a 56.1 % gain to 19,451, while Germany has remained third with arrivals increasing by 60.6% to15,207 by end March.
Chinese arrivals have recorded a 4.8% negative growth year on year to 22,172. In February which marked the Chinese New Year holidays, arrivals were 35,929.
Tourist arrivals from France were up 29.1% to 11,487 arrivals.
In terms of tourist arrivals by region, Europe continued to be the largest source of tourist traffic to Sri Lanka with 53% of the total traffic received in March 2018, while Asia and the Pacific accounted for 38%, America 7%, Middle East 1% and Africa 1%, reports state.
OSL take:
The target of US$ 4.4 billion revenue for this year by Sri Lanka’s tourism industry is an indication that it is a thriving industry in the country with ample investment opportunities. The interest shown by international hotel chains in Sri Lanka as well as the increase in the number of development programmes being carried out in the country has resulted in an increase number of business/investment opportunities in the leisure and hospitality sectors.
| Article Code : | VBS/AT/19042018/Z_8 |