Published on : Monday, December 18, 2017
In the coming days, it has been published in the print media that Sri Lanka will encounter a drop in tourist arrivals. Fitch Ratings made the findings and its exclusive report is the result of a deep and comprehensive study. Below are the main findings of the report.
1) The hotel industry of Sri Lanka is probably to face many obstructions in the coming four years as visitor arrival to the island drops.
2) Sri Lanka will be lagging behind majority of the developed destinations.
3) Sri Lanka will eventually fail to meet its 2020 target of four million tourist arrivals by nearly 400,000 visitors, as the anticipated compound growth rate bring in around 03.6 million travelers only.
4) Tourism revenue will to be limited and shortened as a result of decreased growth in tourist spending over the medium term. This is because of the rush of low spending Asian tourists from the resource markets like Indian and China.
5) Mice-Tourism is still a less explored avenue, accounting for less than 01% of tourist arrivals in 2016.
6) Though, the first three quarters of 2017, tourist arrivals to the island was almost 1.55 million, up by 2.9% from 1.5 million in 2016. Tourism earnings reached a record height during this period.
Tags: ‘Crisis Tourism’