Economy

Tourist arrivals in May likely to surpass 100,000: Analysts

Published

2 years ago

May 27, 2024

Despite being a slow month, tourist arrivals are expected to exceed 100,000 by the end of May, according to industry analysts. This influx is set to push the cumulative number of tourists closer to 900,000 for the year.

As of May 21, a total of 79,431 tourists had arrived, bringing the total for the year to 864,082. The daily average number of tourists was recorded at 3,782.

Analysts said that if Sri Lanka maintains the current daily average for the rest of May, the month would see over 100,000 tourist arrivals despite being off-season. During the last phase of the winter season, Sri Lanka attracted over 200,000 tourists per month.

So far in May, the top three markets generating tourists were India, the Maldives, and Germany. Additionally, visitors from the UK, China, Australia, Russia, France, the US, and Canada contributed to the month’s arrivals.

On a year-to-date (YTD) basis, India, Russia, and the UK have emerged as the leading sources of tourists for Sri Lanka.

“The steady influx of tourists is a positive indicator for the country’s tourism industry, which continues to recover and grow despite facing challenges,” analysts added.

For 2024, Sri Lanka Tourism expects to attract over 2.3 million visitors and generate an income of over $4 billion.

Economy

Sri Lanka Postal Service achieves record revenue

Published

5 days ago

January 12, 2026

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Sri Lanka’s postal service has recorded a remarkable turnaround in 2025, surpassing revenue targets set by the Treasury and signalling a major revival after years of stagnation.

Postmaster General Ruwan Sathkumara said the Department of Posts generated Rs. 13.1 billion last year, exceeding the revenue target assigned for 2025.

He highlighted that the past year also saw wide-ranging reforms, including large-scale recruitments, confirmations of long-serving staff, infrastructure upgrades, and investments in technology and transport to improve efficiency and service delivery.

According to Sathkumara, 378 Sub-Postmasters received permanent appointments in June 2025—the first confirmations for the category since 2020. In September, the appointments of 1,000 Postal Assistants were regularised, marking the first such confirmations since 2022.

The Postmaster General added that recruitment is underway to hire 600 Postal Service Officers through open competition, with appointments expected in February 2026.

Economy

Sri Lanka ranked most affordable place to live or retire in 2026

Published

6 days ago

January 11, 2026

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International Living magazine has identified the five most affordable places to live or retire in 2026, which scored the highest in the cost-of-living category of its 2026 Global Retirement Index.

It evaluated retirement destinations across climate, healthcare, visa and lifestyle, along with cost.

Sri Lanka ranked top of the list due to affordable local transportation and easy-to-obtain retirement visas. A couple can live extravagantly on $2,200 (£1,637) a month, or on $1,000 (£744) with some budgeting.

In second place is Vietnam, with the average cost of living in Hanoi sitting at under $1,800 (£1,339) per month. Rent is low and healthcare is affordable.

Thailand was ranked third, because a couple can live comfortably for around $2,000 (£1,488) a month in cities such as Chiang Mai or coastal towns such as Hua Hin. These both have affordable housing, and accessible services and transportation.

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Economy

Sri Lanka Secures €188M Debt Relief from Germany

Published

1 week ago

January 10, 2026

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Sri Lanka has signed a bilateral agreement with the Federal Republic of Germany as part of its ongoing external debt restructuring process, marking a significant milestone in the country’s efforts to restore debt sustainability and revive its economy.

The agreement, concluded after bilateral discussions following the Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC), provides for rescheduling outstanding debts, offering critical relief to Sri Lanka during its economic recovery phase.

The signing ceremony took place at the Ministry of Finance, where Dr. Harshana Suriyapperuma, Secretary of the Ministry of Finance, Planning and Economic Development, signed on behalf of the Government of Sri Lanka, while Ms. Sarah Hasselbarth, Chargé d’Affaires a.i., represented the Federal Republic of Germany.

The estimated rescheduled debt under this agreement amounts to €188 million.