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Home Business & Finance Economic Policies

China Exim Bank to visit Sri Lanka to discuss Central Expressway funding todayheadline

March 7, 2025
in Economic Policies
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ECONOMYNEXT – Sri Lanka is optimistic about achieving 3 million tourist arrival targets in 2025 after the island nation witnessed 500,000 foreign visitors into the country in the first two months.

Tourist arrivals into Sri Lanka reached 530,746 up to March 5 of this year with 15.1 percent growth compared to the same period in 2024, official data showed.

The country has seen record tourist arrivals in January and February, surpassing the peak monthly arrivals in those months recorded in 2018.

“Our target for this year is attracting 3 million tourists. Since we have reached 500,000 in both January and February, we should be able to reach this year’s target,” Deputy Tourism Minister Ruwan Ranasinghe said in a recorded video.

“We will be implementing tourism promotion strategies globally in March. With that, we should be able to reach this year’s target.”

Sri Lanka missed the island nation’s 2024 tourist target of 2.3 million, but recorded its third highest annual arrival of 2.05 million in the year with a 38.1 percent growth led by Indians and Russians.

Sri Lanka’s record high tourism arrival of 2,333,796 has been recorded in 2018 followed by 2,116,407 in the previous year.

The island is popular for nature with beaches and tropical climate, with most European and Western tourists choosing it as the key destination during their winter season falling from November to February.

At its peak in 2018, earnings from tourism accounted for 5 percent of the county’s gross domestic product (GDP).

However, the Easter Sunday attacks on churches and high-end hotels in 2019, followed by the Covid-19 pandemic in 2020, as well as the 2022 economic crisis, hit the country’s hospitality industry.

The island nation witnessed $3.17 billion revenue in 2024, with a 53.2 percent jump compared to $2.07 billion in the previous year. (Colombo/March 07/2025)


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