Sri Lanka's Tourism Revenue Soars Over 200% in May, Reaching $131.5 Million

According to data released by the Central Bank of Sri Lanka, tourism revenue in Sri Lanka increased astonishingly in May, with a year-on-year increase of more than 200%, reaching US$131.5 million. Priantha Fernando, chairperson of the Sri Lanka Tourism Development Authority (SLTDA), said the sharp increase was particularly significant considering May is traditionally considered a low season for tourist arrivals.

Comparing these figures, the estimated tourism receipts in May 2023 tripled compared to the US$ 43.5 million in May 2022. This exponential growth shows that Sri Lanka's tourism industry is recovering strongly.The positive growth trend continued beyond May. According to official data, tourism revenue in the first five months of 2023 will reach US$827.8 million, a sharp increase of 30.4% year-on-year, of which US$634.6 million will be recorded. This data highlights the continued recovery and growth of Sri Lanka's tourism industry.

The number of foreign tourists visiting Sri Lanka has also increased significantly. In the first five months of 2023, there will be 524,486 inbound foreign tourists, surpassing the 378,521 in the same period last year, according to Xinhua.

Sri Lanka's tourism industry has recently faced many challenges, including the impact of the Covid-19 pandemic and the country's economic and political crisis. However, the current surge in revenue and visitor numbers reflects renewed interest in Sri Lanka as a tourist destination and highlights the resilience and adaptability of the tourism industry.

Sri Lanka's tourism industry grew significantly in May, with tourism revenue increasing by more than 200% year-on-year to US$131.5 million. The impressive increase came in a month when tourist arrivals were off-peak, pointing to a strong recovery and renewed confidence in the country as a tourist destination. With continued growth in the first five months of 2023, Sri Lanka's tourism industry is proving its resilience and ability to meet challenges, positioning itself as a promising contributor to the country's economy.