Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.55%
12M T-Bill Rate10.07%
2Y T-Bond Rate10.55%/ 10.65%
4Y T-Bond Rate11.80% / 11.85%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Sri Lank tourism arrivals hit by corona-virus, arrivals fell 6.5 percent in Jan from year earlier

Travel & TourismFeb 8, 2020
Sri Lank tourism arrivals hit by corona-virus, arrivals fell 6.5 percent in Jan from year earlier
Tourist arrivals fell by 6.5% in Jan 2020 compared with Jan 2019. The number of Indian arrivals up by 3.5%, but Chinese arrivals fell by 15.3%, UK fell by 18.8% , Russian up 45.6%, Germany fell by 18.1%, French fell by 21.4%. Total tourist arrival fell by 4.5% in 2019 after hit by an Islamic terrorist attack in April 2019. Since then the arrivals were recovering till December. Today, tourism is a huge global business that accounts for 10.4% of global GDP and 10% of global employment. Oxford Economics is now forecasting that the U.S. will experience a loss of 1.6 million visitors from mainland China this year. The Chinese are also the biggest spenders, on average shelling out $6,500, compared to the $4,000 spent by other foreign tourists in the U.S. Thailand, which saw 10.5 million Chinese tourists in 2018. Spending by tourists in Thailand is equivalent to roughly 11% of the country’s GDP. Other countries in Asia that are highly dependent on tourist spend include Cambodia, Malaysia, Vietnam and Indonesia.

Disclaimer

Charts represents an assessment of the market environment as of the date indicated and it is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision. This document contains general information only and does not take into account an individual’s financial circumstances. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decisions.