Economy

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

Published

1 year ago

May 13, 2024

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’s domestic exports rise by 5.2%

Published

1 day ago

November 6, 2025

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The Central Bank of Sri Lanka (CBSL) reports that domestic exports of goods and materials have grown by 5.2% during the first nine months of this year, compared to the same period in 2024.

According to official data, export earnings for the period reached US$ 10,215.1 million, up from US$ 9,518.1 million recorded last year.

The increase reflects a steady improvement in the country’s export performance, supported by higher demand and stronger production across key sectors.

Economy

SriLankan Airlines group loses Rs10.7bn in three months, operating losses up

Published

4 days ago

November 3, 2025

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State-run SriLankan Airlines group has lost 10.7 billion rupees in the three months to June 2025, down from 12.9 billion rupees last year but operating losses had widened, despite improvement in traffic, a Finance Ministry report said.

SriLankan had posted revenues of 51.7 billion rupees, up 1.5 billion rupees in the June quarter, helped by high higher traffic volumes and a big improvement in load factor to 82.3 percent a from 74.8 last year.

The airline had carried more than one million passengers across 3,217 flights during the quarter, with traffic growing 23 percent, the report said.

But cargo revenue had declined 13 percent to 7.1 billion rupees, and other revenues had also fallen, bringing net traffic revenues to 62.7 billion rupees, down from 63.8 billion rupees last year.SriLankan Airlines group loses Rs10.7bn in three months, operating losses up

Economy

Sri Lanka is the second most expensive country in South Asia to live in

Published

5 days ago

November 2, 2025

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Sri Lanka is the second most expensive South Asian Association for Regional Cooperation (SAARC) country to live with cost of living for an individual being $506 or Rs. 153,899 excluding rent to live a comfortable life according to Numbeo, a user-generated cost-of-living statistics website.

According to the website for a family of four living in the city of Colombo, the monthly costs are Rs. 570,997 excluding rent to live comfortably. This includes the cost of childcare, groceries, outings, dining, school fees, house expenses, vehicle expenses etc.

Numbeo is the world’s largest cost of living database and a crowd sourced global resource for quality of life data. It provides insights into cost of living. According to the site Maldives is considered the most expensive SAARC country to live in comfortably with a cost of $840.4 per person.

Source – Dailymirror