“Sri Lanka’s Tourism Industry Surpasses $1 Billion Mark in Earnings, July Sees $219 Million Spend by International Visitors”
New data from the Central Bank reveals a remarkable achievement for Sri Lanka’s tourism sector as earnings cross the coveted $1 billion milestone. The provisional figures indicate that the earnings from tourism for the initial seven months of the year amounted to $1.094 billion, marking a substantial 43.1% surge compared to the same period in 2022.
This impressive growth can be attributed to the arrival of 767,913 tourists from January to July, indicating a robust recovery from the challenges posed by the pandemic. July 2023 witnessed an outstanding accomplishment as it became the first month since the pandemic’s onset to exceed the $200 million monthly earnings threshold.
Over the past three years, the industry managed to achieve $200 million in monthly revenue only in January 2020 and February 2020, with a noticeable decline in March due to global travel restrictions. Notably, Sri Lanka has set ambitious goals, aiming to conclude 2023 with $2.7 billion in tourism revenue by attracting 1.5 million tourists.
Looking ahead, the Sri Lanka Tourism Development Authority (SLTDA) has an even more ambitious vision for the future. By 2029, they aspire to attract 5 million international visitors, with a significant proportion projected to spend over $500 daily. The latest data from the SLTDA showcases promising progress, with a total of 819,507 international visitors welcomed from January to August 10.
In the first ten days of August, the country saw 51,594 tourists entering, averaging a daily arrival of 5,159. With these trends, the industry anticipates attracting 149,015 tourists for the entire month of August, indicating positive momentum and strong growth prospects for Sri Lanka’s tourism sector.