In May 2023, Sri Lankan economy sees major rise

Tuesday, June 6, 2023

In May 2023, the estimated tourism revenue of Sri Lanka witnessed an extraordinary expansion of more than 200 per cent annually, reaching $131.5 million, as per the recent information from the central bank of the island country.

This inspiring boost happened in spite of the fact that May is believed to be an off month in terms of tourist arrivals in the sector; Priantha Fernando, Sri Lanka Tourism Development Authority Chairman informed the media about the same on Saturday.

In May 2022, the estimated income from tourism was $43.5 million, as per the data.

The tourism income for the initial five months of this year totaled $827.8 million. This marked a substantial rise of 30.4 per cent compared to the same time 2022. Last year, it stood at $634.6 million, as per the official data.

Also, in Sri Lanka, data showed 524,486 international visitors arrived in the first five months of 2023. This surpassed 378,521 arrivals recorded a year before, Xinhua news agency reported.

One of the leading foreign exchange earners, tourism in Sri Lanka underwent a major impede due to the pandemic and financial and political disasters in the South Asian country.

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