By: Staff Writer
December 09, Colombo (LNW): Sri Lanka’s tourism sector achieved an impressive $2.8 billion in revenue during the first 11 months of 2024, a 56% surge compared to the same period in 2023. This growth highlights the industry’s role as a key driver of the nation’s economic revival.
The Central Bank reported $272.9 million in tourism earnings for November alone, reflecting a 33% year-on-year (YoY) increase and a significant 47% rise from October’s $185.6 million. Tourist arrivals in November reached 184,158, a 22% YoY increase and the highest since July 2024. February recorded the year’s peak monthly earnings of $375.7 million from 218,350 visitors.
Analysts note these figures emphasize the sector’s ability to generate substantial economic returns when effectively supported. Confidence has grown in meeting the Sri Lanka
Tourism Development Authority’s (SLTDA) revised 2024 targets of 2 million visitors and $3 billion in revenue.
With over 1.8 million arrivals and $2.8 billion in earnings by November, the industry remains optimistic about achieving its goals despite the December challenge of attracting over 345,000 visitors.
This recovery is particularly remarkable given the industry’s struggles over recent years, including the 2019 Easter Sunday attacks, the COVID-19 pandemic, and a subsequent economic crisis.
Despite these setbacks, the sector has shown resilience, driven by organic growth and improved visitor safety measures. Notably, this revival has occurred without a comprehensive global tourism campaign over the last 16 years.
Looking ahead, Sri Lanka’s tourism industry has set ambitious goals for 2030, aiming for 5 million visitors and $8.5-10 billion in revenue.
To achieve this, a strategic overhaul of marketing efforts is underway. In January 2025, the sector plans to launch a unified national brand, moving away from fragmented promotional efforts and positioning Sri Lanka as a year-round destination.
Industry leaders are also advocating for the new administration to expedite the long-awaited global promotional campaign. This initiative is seen as crucial for sustaining the current momentum and enhancing international recognition of Sri Lanka as a premier travel destination.
As a 100% private sector-driven industry, tourism remains vital to Sri Lanka’s economic development.
By aligning strategic initiatives with global market trends and addressing structural challenges, stakeholders believe the sector is poised to become a cornerstone of the country’s economic recovery and growth.
