Research

Charting an Upward Momentum - A Review of Sri Lanka's Hospitality Industry

"Sri Lanka is now in the midst of a promising period of rapid economic growth and social development, driven largely by investments into infrastructure across the country as well as continued growth in the services sector,  which now contributes 58% of the country’s GDP. In a remarkably short period, the country has bounced back as a strong contender among touristdestinations in the Indian Ocean, and is on a steady tourism growth path. According to the Travel and Tourism Index 2015, Sri Lanka’s travel and tourism competitiveness jumped 18 ranks over the past four years, driven by the strong government focus on the tourism sector, remarkable infrastructure growth and enhanced marketing and promotional efforts for the country as a whole. The country saw close to 1.8 million foreign tourist arrivals in 2015, having registered an average growth rate of 16% over the past five years, and is working towards a target of 2.2 million tourist arrivals in 2016​."

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