- Tourism in Sri Lanka is a key sector in the country, generating US$ 9.7Bn to GDP, accounting for 11% of the economy, and providing 894,500 jobs1, according to the World Travel and Tourism Council. It is evident that the industry plays a major role in the balance of payments, the socio-development of the country, and has a direct and indirect impact on the livelihoods of many across the island. Therefore, ensuring that the industry sustains its growth is of vital economic importance.
- Given this importance, in this edition of the Ceylon Chamber’s Strategic Insights Series, we take a closer look at the key indicators of growth in the tourism sector – tourist arrivals and tourism earnings – in order to evaluate growth sustainability. While analyzing the numbers on tourist arrivals and tourism earnings we find that the data on these two key metrics throw up some interesting and worrying insights, and warrant closer inspection.