Sri Lanka’s tourism sector records US$ 19 million earnings since January this year
The Central Bank of Sri Lanka (CBSL) has reportedly stated that estimated earnings from the tourism sector in the first four months of this year is expected to be at US$ 19 million following the re-opening of Sri Lanka’s borders in late January.
However, the earnings are reportedly substantially low in comparison to US$ 682 million earned in the first four months of last year; the tail end of which saw the onset of the Covid 19 pandemic.
According to the Central Bank, the tourism sector had experienced a limited number of arrivals in April. Tourist arrivals in April were recorded at 4,168, compared to 4,581 arrivals in March. Total tourist arrivals of 13,797 were recorded during the first four months of 2021, compared to 507,311 arrivals in the corresponding period of 2020, local media reports explained.
The main source countries of tourist arrivals in April 2021 were India, China and Kazakhstan. Earnings from tourism, which are estimated based on tourist arrivals, amounted to US$ 6 million in April.
OSL take:
Sri Lanka’s tourism industry has been one of the fastest growing economic sectors in the country when the global Covid 19 pandemic brought about global travel restrictions. However, since reopening it’s borders earlier this year, tourists have also started to return to the country. Sri Lanka being listed as a must visit destination by several leading global travel publications and the bio bubble concept introduced for travel has made it an attractive travel destination. Also, given Sri Lanka’s positioning as an emerging business destination in the South Asian region, there has been an increase in business travellers to the country. All these have expanded business/investment opportunities in Sri Lanka’s tourism industry and several leading international hospitality brands have expressed interest in entering the country.
| Article Code : | VBS/AT/20210623/Z_2 |