Tourism revenue expected to hit $4 billion; Government intensifies investment facilitation efforts
Sri Lanka has secured $197 million in foreign direct investments (FDIs) during the first quarter of 2025, according to Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma, who addressed Parliament on May 21.
“This is to encourage and give hope to the businesses that the plan is working,” Suriyapperuma noted, expressing optimism for improved figures in the coming months. He emphasized that regular monitoring and engagement are underway to ensure that the regulatory framework remains conducive to attracting investments.
The government has set an ambitious target of $2 billion in total FDIs for the year, alongside $879 million in local investments.
Providing further insight into investment activity, Suriyapperuma stated that the Board of Investment (BOI) had approved 74 projects in 2024, including 41 new ventures and 33 project extensions, totaling an estimated $608 million. This marks a modest increase of $110 million in the second half of 2024, compared to the $498 million recorded in the first half.
On the tourism front, the government projects $4 billion in revenue for 2025, buoyed by a goal of three million tourist arrivals. So far, nearly one million tourists have visited the country this year, generating $900 million in revenue.
Efforts to boost both foreign and domestic investments remain a priority for the government, with increased institutional coordination and policy facilitation driving forward the economic recovery and development strategy.