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Sri Lanka tourism earnings top $ 1.25 b in first four months

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Sri Lanka’s tourism industry has showcased an impressive resurgence, amassing over $1.25 billion in revenue during the initial four months of 2024, marking a remarkable 92% surge compared to the corresponding period last year.

This robust performance not only signifies a robust recovery but also underscores the industry’s potential for growth and resilience in the face of challenges.

The acceleration in revenue generation during the first four months is particularly notable, considering that reaching such a milestone took the country seven months in the previous year.

April earnings totaled $225.7 million, reflecting a year-on-year increase of 52.3%.

Although April earnings experienced a 33% month-on-month decline, indicative of the industry’s seasonal fluctuations, it remains the highest monthly earnings recorded since 2020.

Despite grappling with challenges stemming from the Easter Sunday attacks in 2019, Sri Lanka’s tourism industry has not only weathered many storms but emerged stronger. This resilience has instilled fresh confidence in the sector’s ability to bounce back and thrive.

Buoyed by ongoing promotional efforts and a renewed focus on safety and visitor satisfaction, Sri Lanka is poised to reclaim its position as a top tourist destination globally. The surge in arrivals, totaling an impressive 784,651 in the first four months of 2024, underscores this optimistic outlook, representing a significant increase from the previous year.

Looking ahead, Sri Lanka Tourism aims to attract 2.3 million visitors and generate over $4 billion in income for 2024. As tourism remains a crucial source of foreign exchange earnings for the country, efforts are underway to attract high-end tourists, with plans to increase the average spending per visitor to $4,000.

The Sri Lanka Tourism Development Authority (SLTDA) is targeting 2.5 million visitors to spend over $500 per day, with a focus on attracting high-spending travelers, who currently constitute a significant portion of tourists visiting the country.

Economy

Sri Lanka Govt to launch GovPay

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The initial step in the digitalisation of government services, ‘GovPay’, will be officially launched under the patronage of President Anura Kumara Disanayake on February 7th, 2025.

“This ground-breaking initiative will streamline and modernize how government institutions handle payments, enabling seamless transactions through a secure and efficient digital platform” President’s office said in a statement. 

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AKD Government revokes contentious 500 MW Adani wind power contract

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The Cabinet of Ministers chaired by President Anura Kumara Dissanayake has revoked a decision made by his predecessor Ranil Wickremesinghe in June last year to award a controversial 484 MW of wind power plants in Mannar and Pooneryn to Adani Green Energy SL Ltd.

The project was challenged on multiple grounds, including the arbitrary and excessive price of US cents 8.26 per kilowatt hour at a time when local bidders were offering prices as low as 4.88 cents.

Many environmental organisations, including the Wildlife and Nature Protection Society and Environmental Foundation Ltd., opposed the project owing to deficiencies in the Environmental Impact Assessment and because Mannar is a critical habitat for migratory birds. The local community, represented by the Bishop of Mannar too, vehemently opposed the project because of the harm to local industries and livelihoods.

In the course of his election campaign, the present President pledged to cancel the deal and call for international tenders to develop wind power in Sri Lanka. 

Consistent with that pledge, on 30 December the Cabinet decided “To revoke the cabinet decision dated 2024-05-06 numbered CP No. 24/0850/621/047 submitted by the then Minister of Power and Energy on ‘Proposal of Adani Green Energy SL Limited for the Development of 484 MW of Wind Power Plants in Mannar and Pooneryn.”

Biodiversity scientist Rohan Pethiyagoda, who for the last year fought tirelessly against the proposal award told the Daily FT: “Everyone interested in environmental integrity and financial transparency will celebrate the fact that President Dissanayake has delivered on his promise to defeat this conspiracy to defraud the people of Sri Lanka.” 

“Personally, I am delighted by this decision. But it is not enough. The Government must now release all the related files to the Bribery Commission and request a full investigation as to how this scam was perpetrated in the first place. Who was the mastermind behind it? Remember, the last Government agreed to buy electricity from Adani at a rate that was 70% higher than the locally tendered price. Into whose pockets was that 70% going? It added up to billions of dollars,” he said.

Commenting on the culture shift brought about by the NPP Government, Pethiyagoda said: “The degree of transparency we are now seeing is unprecedented. There was no song and dance from the NPP about this hugely consequential Cabinet decision. Instead, the attorney general routinely filed it in court as part of a 174-page submission that reads like something out of Wikileaks. This is a huge victory for environmental and social justice. Much kudos to AKD.”

Pethiyagoda also told the Daily FT that by the same decision, the Cabinet has appointed a new Project Committee and Procurement Committee to make recommendations regarding Adani’s proposal, but that that committee would be constrained by the President’s election pledge to invite international bids for the project. “It could be that the President is under pressure to give this project to an Indian company,” he said, “in which case it is likely that bids will be restricted to companies incorporated in India. Then, Adani too can compete in an open and transparent manner.”

Source – DailyFt

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Economy

BBC has named Sri Lanka one of the 25 Best Places to Travel in 2025

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Recognized by the BBC as the ninth destination on its prestigious list of “The 25 Best Places to Travel in 2025,” Sri Lanka continues to capture the imagination of travelers worldwide. 

The UK-based media powerhouse praised the island nation for its enchanting blend of natural beauty and cultural treasures, from mist-shrouded hilltop tea plantations and freely roaming wild elephants to ancient temples steeped in history and idyllic waves ideal for surfers.

Despite declaring bankruptcy in April 2022, Sri Lanka has demonstrated remarkable resilience under new leadership. The recently appointed President has focused on revitalizing the country after the dual challenges of a global pandemic and civil unrest. 

Tourism plays a pivotal role in this effort, with the country leaning on its breathtaking landscapes, vibrant culture, and storied heritage to attract global visitors.

Sri Lanka’s recovery narrative and diverse offerings—from serene beaches to lush, misty highlands—make it a destination that appeals to travelers seeking both beauty and inspiration in 2025.

Sri Lanka is aiming to attract an impressive 3 million visitors in 2025 and has started the year on a promising note, welcoming nearly 80,000 travelers within the first 10 days of January.

India and Russia have emerged as the leading source markets, contributing 11,749 (16.6%) and 11,629 (16.4%) arrivals, respectively, between January 1 and 9.

The United Kingdom ranked third with 5,520 visitors (7.8%), followed by Germany at 5,049 (7.1%), Australia with 3,055 (4.3%), and France contributing 2,714 (3.8%). Notably, January 2 and 3 stood out with impressive daily arrival figures of 9,392 and 8,974, respectively.

Meanwhile, Chinese arrivals, which are traditionally lower during the Lunar New Year as families celebrate at home, ranked seventh. However, a surge in connectivity with expanded routes by Chinese airlines is expected to boost these numbers in the coming months.

Source: TTW

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