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Revenue from tourism hits a record high

Nov 24, 2010 10:42:04 AM - itnnews.lk

Sri Lanka’s tourism revenue hits a record high in the first ten months of this year with October arrivals jumping 39 percent as the country continues to enjoy a post-war surge.

The Tourism Board said earnings from tourism increased 61.8 percent in the first 10 months of this year to a record 437.9 million US Dollars. According to Central Bank’s latest data the previous record of 416.8 million was set in 2004. Arrivals have risen every month since the government defeated the the LTTE outfit in May 2009. The hotel and travel index on the Colombo Stock Exchange has almost tripled since then, outpacing the overall stock index’s .CSE near-doubling.

Tourism is one of the main foreign exchange earners of Sri Lanka’s 42 Billion Dollar economy along with remittances, garments and tea. Tourism revenue was 326 million Dollars in 2009, according to the revised numbers given by the Tourism board.