ECONOMYNEXT – Sri Lanka’s foreign exchange revenue from tourism rose to $154 million dollars in May 2024, a 54 percent jump from the last year while the arrivals also gained 34 percent in the month compared to 2023, the central bank said quoting tourism promotion authorities.
Sri Lanka’s tourist arrivals went up to 896,779 persons in the first five months of 2024, a 71 percent jump compared to the same period last year.
May arrivals were up to 112,128.
Tourism earnings in May were estimated at $154 million, up from $100 million a year ago.
Tourist arrivals and revenue from tourism were expected to slow down after to a new on arrival visa system through VFS Global. After the new system, foreign visitors who were earlier permitted to obtain visa free of charge are compelled to pay $21.61 fee for VFS Global.
The island nation’s leisure industry has protested the complex website which is putting off some users as well as higher fees.
The awarding of the contract to VFS Global is under probe by a parliamentary panel while Tourism Minister Harin Fernando on Friday said Sri Lanka’s promotional officials have rejected half a million dollars offered by VFS Global.
The tourism has helped the island nation to see an inflow of $1,405.6 million in the first five months of the year, 87 percent higher than the same period in 2023.
The tourism earnings figure is estimated from a survey conducted by Sri Lanka Tourism Development Authority.
Sri Lanka’s imports and the merchandise trade deficit has gradually picked as tourism earnings came in and people in the sector spent the wages and other earnings. (Colombo/June 08/2024)