2014-02-10 03:05:03 - Sri Lanka Tourism Report 2014 - a new market research report on companiesandmarkets.com
We believe that the recent weakness in the Sri Lanka rupee is both a blessing and a curse for Sri Lanka´s booming tourism industry. With the rupee now at the cheapest it has ever been against the euro, we expect to see an increase in arrivals from the bloc, which remains the island´s top tourist market. That said, the downside of a much weaker rupee is that the cost of major tourism-related infrastructure developments is likely to face some upside pressure.
Beyond the current year, analysts believe arrivals to Sri Lanka will grow at a strong annual rate of at least 10% per annum. The tourist arrival forecasts remain dependent on a peaceful security situation. Despite the ruling United People´s Freedom
Alliance (UPFA)´s electoral defeat in the Northern Province´s recent elections, the Rajapaksa regime´s success in holding largely peaceful elections in a majority-Tamil area should help in deflecting international pressure and criticism off of Colombo to enhance reconciliation efforts following the recent end of the country´s decades-long civil war.
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