Is This the Comeback of Sri Lanka's Tourism? $1.5 Billion Revenue Suggests So
Skift Take
Sri Lanka's tourism industry is witnessing a resurgence. The Central Bank of Sri Lanka reported that earnings from tourism soared to over $1.5 billion in the first half of 2024, marking a 78% increase year-on-year.
Tourist arrivals hit 1.01 million, up 62% from the same period in 2023. By June 2024, tourism earnings had climbed to $151.1 million, a 23% increase year-on-year, despite a slight month-on-month decline.
The $1.5 billion revenue surge in the first six months is important, especially considering it took Sri Lanka 10 months last year to reach $1.59 billion in tourism earnings from 1.1 million arrivals. The tourism sector’s earnings exceeded $2 billion in 2023.
Tourism arrivals peaked in 2018 in Sri Lanka, when 2.5 million tourists spent $4.4 billion in the country.
