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Home Business & Finance Economic Policies

Sri Lanka seeks multilateral funds for 600MW pumped storage plant to integrate renewables todayheadline

February 21, 2025
in Economic Policies
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ECONOMYNEXT – Sri Lanka is targeting three million tourists in 2025, Tourism Minister Vijitha Herath said after meeting visiting Maldivian Foreign Minister Abdulla Khaleel.

“Tourism is a key economic driver for both our nations, and Sri Lanka plays a significant role in providing skilled professionals and tourism services to Maldives,” Minister Herath told reporters on Wednesday.

“We discussed matters of mutual cooperation to attract more tourists to our countries, also keeping in mind Sri Lanka’s target of 3 million tourist arrivals this year.”

“We agreed to build partnerships through investments in the tourism and leisure sector and strengthening cooperation in mutually beneficial areas.”

The 3 million target would be 46 percent increase from 2024.

Sri Lanka saw its second best number of tourist arrivals in 2024 amid the sovereign defaulted nation’s economic recovery from an unprecedented economic crisis. Last year’s 2.05 million arrival is only second to the record 2.33 million visitors the island nation witnessed in 2018.

Sri Lanka tourism is a vibrant and diverse industry that showcases the island’s rich cultural heritage, stunning landscapes, and warm hospitality.

Known as the “Pearl of the Indian Ocean,” Sri Lanka attracts visitors with its pristine beaches, lush tea plantations, ancient UNESCO World Heritage Sites, and diverse wildlife.

Tourism at its peak in 2018 accounted for 5 percent of the total gross domestic production.

The country offers a range of experiences, from exploring historic cities like Anuradhapura and Galle to thrilling safaris in Yala and Wilpattu National Parks. Adventure seekers enjoy surfing in Arugam Bay, hiking in Ella, and whale watching in Mirissa, while wellness travelers indulge in Ayurveda retreats.

With its unique blend of history, nature, and modern comforts, Sri Lanka remains one of the top destinations for global travelers.

Sri Lanka missed the 2.3 million tourist arrival target last year due to a sudden hike in visa processing fee. Confusion on visa processing prevailed until President Anura Kumara Disanayake government abolished the system.

The country also missed the revenue target of around 5 million last year. Instead, it only saw $3.2 billion. (Colombo/February 21/2025)


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Tags: 600MWFUNDSIntegrateLankamultilateralplantpumpedrenewablesseeksSristoragetodayheadline
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