Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Sri Lanka surpassed USD 2Bn FX inflows in tourism first time after three years

Travel & TourismJan 5, 2024
Sri Lanka surpassed USD 2Bn FX inflows in tourism first time after three years

SriLanka had multiple setbacks in tourism after Easter attack in 2019. Down from 4.4 Bn earned in 2018 / Afterwards tourism industry generated only $682Mn in 2019, $394Mn in 2020 and 1.136Bn in 2021. In 2023, the revenue recorded $2.068Bn from tourism industry which is a significant improvement.

With low pandemic risks, improved supplies of essential items such as fuel and electricity , implementation of various strategies to promote tourism are the key factors which have boosted the revenue generated by the tourism industry in 2023.

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.