HVS Monday Musings: Sri Lanka Tourism – Achieving The Next Growth Frontier
Sri Lanka’s tourism sector has become a mainstay of the economic development in the country in the past decade, contributing over 10% to the country’s GDP and 11% of the total employment in 2019 as per WTTC. Having realized the potential of the tourism sector as a chief economic propellant, the Sri Lankan government, over the past several years, has focused on facilitating its growth through effective policy measures and massive infrastructure development. For instance, upgrading the Colombo airport is a major step to improving infrastructure that has helped increase the number of flights into the country. Hotel development in the country has also seen significant growth from 113 classified hotels with 9,377 rooms in 2010 to 156 classified hotels with 14,232 rooms in 2020, as per the Sri Lanka Tourism Development Authority (SLTDA).