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1Q tourism earnings top $ 1 b

Sri Lanka's tourism industry has experienced a robust upswing, achieving a significant milestone by surpassing $1 billion in earnings during the first quarter of 2024. This remarkable feat marks a striking 103% increase compared to the same period last year, showcasing the industry's resilience and potential for growth. Despite a slight dip in earnings in March compared to February, which saw the highest monthly earnings since 2020, the sector has demonstrated remarkable recovery following the setbacks of the Easter Sunday attacks in 2019. With a surge in arrivals totaling 635,784 in the first three months of 2024, Sri Lanka Tourism is on track to meet ambitious targets for the year, aiming to draw 2.3 million visitors and achieve over $4 billion in income. Emphasizing a strategic shift towards attracting high-end tourists, the focus is on elevating the average spending per visitor to $4,000, with the Sri Lanka Tourism Development Authority (SLTDA) aiming for 2.5 million visitors to spend over $500 per day. This resurgence not only underscores renewed confidence in the industry's potential but also highlights its significance as a crucial source of net foreign exchange earnings for the country.

1Q tourism earnings top $ 1 b | Daily FT

Daily FT