Economy

Tourist arrivals soar past 800,000

Published

2 years ago

May 10, 2024

Sri Lanka’s tourism sector is celebrating a significant achievement as tourist arrivals surge past the 800,000 mark, instilling optimism for meeting year-end targets.

This milestone represents a remarkable upswing, a feat previously attained only in August of the preceding year. It underscores the considerable strides made in the tourism sector, reflecting strong interest and engagement with Sri Lanka as a premier destination for travelers.

During the first week of May alone, Sri Lanka welcomed 28,525 tourists, propelling the total number of visitors to 813,176.

For the year 2024, Sri Lanka Tourism is anticipating 2.3 million arrivals and aiming for an income of $4 billion.

India leads the charge as the foremost generating market for May, contributing 5,600 tourists, trailed by the Maldives with 3,170 visitors and the UK with 1,888 tourists.

Despite the typical seasonal dip in arrivals during May, industry stakeholders remain bullish. Sri Lanka Tourism is intensifying its efforts during this off-peak period, rolling out a global PR and digital campaign across 15 markets to attract more visitors.

Year-to-date (YTD) data underscores India’s dominance in the market, comprising 16% of total arrivals with 129,183 tourists. Russia closely follows with 13% (108,140), trailed by the UK at 9% (73,880), Germany at 7% (59,508), and China at 5% (49,432).

Economy

Vehicle imports generate Rs. 512.5 billion in tax revenue

Published

1 day ago

September 8, 2026

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Sri Lanka imported 316,000 vehicles during the first six months of 2026, generating Rs. 512.547 billion in tax revenue, according to officials from Sri Lanka Customs.

The figures were revealed during a review of the operations and revenue performance of Sri Lanka Customs by the Parliamentary Committee on Ways and Means.

Of the total tax revenue generated through vehicle imports, motor vehicles imports accounted for the largest share, contributing Rs. 386.726 billion.

Petrol-powered cars with engine capacities below 1,000cc emerged as the highest revenue-generating category, contributing Rs. 137.4 billion in Customs revenue. This represented 9.96% of total Customs revenue.

Meanwhile, Sri Lanka Customs recorded total revenue of Rs. 1.379 trillion by June 30, 2026, against an expected revenue of Rs. 1.061 trillion for the period, representing 130% of the targeted revenue.

Officials informed the committee that customs revenue had exceeded monthly targets throughout the year and had recorded higher revenue compared with the corresponding months of 2025.

Economy

Rs. 5.8bn World Bank-backed project to rehabilitate 296 irrigation tanks

Published

3 days ago

September 6, 2026

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Sri Lanka has begun rehabilitating 296 minor irrigation tanks under a World Bank-funded programme aimed at strengthening irrigation infrastructure and improving climate resilience.

More than Rs. 5.8 billion has been allocated for the work under the Integrated Rurban Development and Climate Resilience Project (IRDCRP), which is planned to continue until 2029.

Of the 296 tanks, 290 are located across 18 districts and were damaged by Cyclone Ditwah. About Rs. 5.58 billion has been allocated for their rehabilitation under the project’s Contingent Emergency Response Component.

The largest number of affected tanks is in Badulla, where 97 are being rehabilitated, followed by Ratnapura with 29, Mannar with 24 and Kurunegala with 19. Fifteen tanks each are being rehabilitated in Kandy and Vavuniya.

A further six minor irrigation tanks in Polonnaruwa, Hambantota and Jaffna are also being rehabilitated at a cost of about Rs. 256.2 million.

Economy

Sri Lanka exports to India grow 7.2% to USD 669mn in first seven months

Published

5 days ago

September 4, 2026

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Sri Lanka’s merchandise exports to India increased by 7.22% year-on-year during the first seven months of 2026, reaching US$669.36 million, according to data from the Export Development Board (EDB).

Exports to India during the January-July period rose from US$624.31 million recorded during the corresponding period of 2025.

In July alone, exports to India increased by 9.12% year-on-year to US$129.51 million, compared with US$118.69 million in July 2025.

The EDB said the cumulative growth in exports to India was mainly supported by increased shipments of boilers, piston engines, pumps and vacuum pumps, petroleum oils, animal feed and base metal products.

The growth also came amid a broader expansion in Sri Lanka’s exports to the South Asian region.

Exports to South Asian markets increased by 11.98% year-on-year to US$916.55 million during the January-July 2026 period.