Economy

Sri Lanka crowned ‘Most Desirable Island in the World’

Published

1 year ago

November 8, 2024

Sri Lanka has been voted the Most Desirable Island in the World at the Wanderlust Reader Travel Awards 2024 in London.

At the prestigious Wanderlust Reader Travel Awards 2024 held in London, Sri Lanka emerged as the “Most Desirable Island in the World,” marking a significant milestone in its tourism recovery journey.

More than 200,000 passionate travelers voted for Sri Lanka, reflecting the island’s powerful appeal and diverse attractions.

Sri Lanka has risen from last year’s eighth place to take Gold in one of the Awards’ most thrilling turnarounds.

Announcing the results Wanderlust said: “Known as the ‘Pearl of the Indian Ocean’, the nation’s history comes to life through spectacular monuments such as Sigiriya Rock, the cave temples of Dambulla and the ancient ruins of Anuradhapura and Polonnaruwa.”

“Elsewhere, its leopard-filled national parks and the jungle-fringed beaches of Tangalle and Trincomalee show off the island’s natural side. But, more recently, it’s the tea plantations and lush highlands of the centre that have caught the eye, with the fresh addition of the Pekoe Trail offering an exciting new way to explore Sri Lanka’s green heart.”

Meanwhile, the Silver award of the Most Desirable Island category was secured by Taiwan, while Puerto Rico won the Bronze.

Tokyo won the Gold award for the Most Desirable City in the world category and the category’s Silver award was secured by Singapore. Australia was awarded the Most Desirable Country in the world.

The results for the 23rd Annual Wanderlust Reader Travel Awards were announced after more than 3 million votes were cast by 168,000 passionate and globetrotting readers.

Destinations, tour operators and travel brands have been recognised across 22 categories at the Wanderlust Reader Travel Awards 2024, including the Most Desirable Countries and Cities in Europe and around the world.

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.