Examining specific industries such as technology, healthcare, finance, and manufacturing, including trends, challenges, and opportunities within each sector.
Sri Lanka’s tourism industry is showing promising signs of recovery in 2024. As of April 7th, the country has welcomed a total of 675,582 tourists, with nearly 40,000 arriving in the first week of April alone. This positive trend is accompanied by a shift in visitor demographics. Notably, British tourists have emerged as the second-largest
Sri Lanka’s tourism sector is experiencing a remarkable resurgence. In the first quarter of 2024, tourism revenue surpassed the significant milestone of USD 1 billion, marking a staggering 103% growth compared to the same period in 2023. This positive trend is further bolstered by a substantial increase in tourist arrivals, with over 635,000 visitors recorded
Recognizing the importance of a robust tourism industry for Sri Lanka’s economic well-being, the Cabinet of Ministers has taken a significant step to address a critical challenge – the lack of modern and reliable transportation for tourists. In a move aimed at revitalizing the tourism sector, the government has approved the import of 1,000 vehicles,
Marking a significant development in Sri Lanka’s tourism industry, Thai Airways touched down at Katunayake Bandaranaike International Airport last night, resuming operations after a four-year hiatus. Flight TG 307, originating from Bangkok, Thailand, brought approximately 150 foreign tourists, including Thai nationals, eager to explore Sri Lanka. The arrival ceremony reflected the importance of this occasion.
The Urban Development Authority (UDA) of Sri Lanka is breathing new life into the struggling Bastian Road floating market in Colombo through a public-private partnership (PPP) with a Japanese investor. The agreement, signed yesterday under the chairmanship of Nimesh Herath, brings Akita Hirose on board for a 30-year commitment. This marks a significant development for
Great news for travelers between Sri Lanka and Europe! Turkish Airlines has announced a substantial expansion of its flight services, adding a sixth weekly flight between Istanbul and Colombo. This exciting development, taking effect on May 14, 2024, will provide passengers with greater flexibility and convenience when planning their journeys. This strategic move reflects Turkish
Sri Lanka’s air travel industry is experiencing a significant upswing, as evidenced by the impressive statistics for the first two months of 2024. By the end of February, Sri Lankan airports had recorded a substantial 1,602,417 international passenger movements, indicating a strong travel year ahead. This number is particularly noteworthy when compared to the same
The Sri Lankan construction sector has been facing challenges due to the economic crisis and the COVID-19 pandemic. In a positive development, the Ministry of Urban Development and Housing has addressed one of these concerns by settling over Rs. 12.5 billion in outstanding payments. This financial relief is expected to provide some much-needed breathing room
Sri Lanka’s tourism industry is experiencing a welcome surge, with March 1-24, 2024, attracting 163,051 arrivals. This marks the fifth consecutive month with over 200,000 visitors, indicating a strong comeback for the sector. The positive trend began in January with 208,253 arrivals, followed by an even stronger February with 218,350 visitors. Compared to the same
Zoral, a leading global AI software company specializing in the banking and finance industry, has announced a strategic partnership with LinearSix, a Sri Lankan digital transformation force in fintech. This collaboration marks a significant step for both companies, aiming for aggressive expansion into the Asia-Pacific (APAC) and Middle East and North Africa (MENA) regions. The