Sri Lanka’s Tourism Revenue Has Experienced a Remarkable 56% Growth Compared to 2023

Posted on the 09 December 2024 by Frontpage

The latest data from the Sri Lanka Tourism Development Authority (SLTDA) indicates a total of 1,804,873 tourist arrivals so far in 2024, drawing closer to the annual target of 2.3 million.

From November 1 to 30, the country welcomed 184,158 tourists, with the third week of November seeing the peak at 42,376 arrivals. India led the source markets, contributing 41,120 tourists, followed by the Russian Federation with 29,053 visitors.

According to the Central Bank of Sri Lanka (CBSL), tourism revenue for November 2024 reached USD 272.9 million, surpassing November 2023 earnings of USD 205.3 million. From January to November 2024, total tourism income amounted to USD 2.8 billion, reflecting a 56% increase compared to USD 1.7 billion in the same period last year.

Foreign remittances from migrant workers also showed growth. In November 2024, remittances totaled USD 530.1 million, up from USD 517.4 million in October. Between January and November 2024, remittances reached USD 5.96 billion, a 10.4% year-on-year increase compared to USD 5.39 billion during the same period in 2023.

These trends highlight significant progress in Sri Lanka’s economic recovery, driven by robust tourism and remittance inflows.