Economy

Tourism earnings top $ 1.5 b in 1H 2024

Published

2 years ago

July 8, 2024

Sri Lanka’s tourism sector has demonstrated remarkable performance, generating over $ 1.55 billion in revenue during the first half of 2024, registering a substantial 78% increase compared to the same period last year.

The impressive revenue surge within the first six months is significant, given that it took almost 10 months to achieve a similar milestone in 2023.

The strong performance underscores not only a robust recovery but also the industry’s potential for continued growth and resilience amid challenges.

June alone saw tourism earnings of $ 151.1 million, reflecting a 23% year-on-year (YoY) increase, though a slight 1.8% decline from the previous month.

In June, a total of 113,470 tourist arrivals were registered, marking a 67% YoY increase.

February 2024 stands out with earnings of $ 345.7 million, the highest recorded in a month post-COVID-19.

Since the Easter Sunday attacks in 2019, Sri Lanka’s tourism industry has faced significant hurdles but has shown strong resilience, boosting confidence in its recovery and future prospects.

Ongoing promotional efforts and a renewed focus on safety and visitor satisfaction are crucial to reclaiming Sri Lanka’s status as a top global tourist destination.

The country’s achievement of crossing the 1 million arrivals mark by the end of June 2024 further highlights the positive outlook, representing a significant increase from the previous year.

During the first four days of July, Sri Lanka Tourism has welcomed a total of 21,298 tourist arrivals, pushing the YTD total to 1.03 million visitors.

Sri Lanka Tourism has set an ambitious goal for 2024, aiming to attract 2.3 million tourists and generate over $ 4 billion in revenue.

Economy

Sri Lanka to Launch First Digital Motor Insurance Card from May 1

Published

1 day ago

April 25, 2026

admin

Sri Lanka’s Ministry of Finance, Planning, and Economic Development has announced that the country’s first digital motor insurance card will be introduced from May 1.

The Ministry stated that this initiative represents a significant step toward advancing national digitalization while also enhancing public safety.

By replacing physical plastic cards, the move is also expected to contribute to environmental sustainability across the country.

The Ministry added that the digital motor insurance card will be officially launched in collaboration with the Insurance Regulatory Commission of Sri Lanka, the Insurance Association of Sri Lanka, and the Sri Lanka Police.

Economy

Sri Lanka Confirms Hackers Diverted USD 2.5M Meant for Australian Debt Repayment

Published

3 days ago

April 24, 2026

admin

Sri Lanka’s Ministry of Finance has revealed that cyber hackers infiltrated the computer system of the External Resources Department, leading to the fraudulent diversion of a foreign debt repayment of nearly USD 2.5 million intended for Australia.

Addressing the issue, Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance, said the intrusion was first detected in January 2026, when officials became aware that hackers had attempted to gain unauthorized access to the External Resources Department’s systems and compromise them. Upon identifying the threat, the Ministry immediately alerted law‑enforcement authorities.

He said reports were lodged with the Sri Lanka Computer Emergency Readiness Team (SL‑CERT) and the Computer Crimes Investigation Division of the Sri Lanka Police to investigate the attempted system breach. In parallel, ministry officials instructed the External Resources Department to conduct an internal review to determine whether any further damage had occurred beyond the initial incident.

Subsequent investigations revealed that the cyberattack had taken place earlier than first detected. A review of previous months’ transactions uncovered that hackers had intercepted email communications linked to a government‑to‑government debt repayment involving Australia.

Economy

Hackers hit Sri Lanka Finance Ministry as USD 2.5M storm erupts

Published

4 days ago

April 23, 2026

admin

The Government is facing scrutiny following reports that $ 2.5 million (nearly Rs. 800 million) of Treasury funds was diverted during a foreign debt repayment, with the amount yet to reach the intended creditor country.

The funds were part of a bilateral payment to Australia amounting $ 22.9 million, with settlement due in September 2025.

The Treasury has appointed a Technical Investigation Committee to probe a suspected fraudulent payment involving $ 2.5 million linked to a bilateral transaction with Australia. The committee includes two Deputy Secretaries to the Treasury and will be co-chaired by A.N. Hapugala and S.S. Mudalige. The other members are National Planning Department Director General K.T.I. Premaratne, Legal Affairs Department Additional Director General A.K.D.D. Arandara, and Information Technology Management Department Assistant Director E.D. Shirantha.

The Committee has been tasked with probing the risk of fraudulent payment instructions received via email, which may have contributed to the disappearance of the funds remitted to Australia. It has been directed to carry out a comprehensive investigation into the incident and submit its report at the earliest.

#oureconomics