Govt to woo high-end tourists to hit USD 10 bn revenue target by 2025
ECONOMYNEXT – The Government intends to attract upmarket tourists and provide higher quality service for better rates to achieve the target of USD 10Bn annual earnings from the industry by 2025, Government Media Spokesman Keheliya Rambukwella told EconomyNext Wednesday.
He went on to say that the industry should seek a balance of the upmarket traveller and the budget tourists so that there will be a bigger number of travellers arriving in Sri Lanka.
However, experts have questioned Sri Lanka’s capacity interms of infrastructure to deal with higher rates of arrival.
Writing in the Daily Mirror, independent Venture Capital Consultant Indika Hettiarachchi said that the country would need to add 4,800 new hotel rooms annually in the next five years to reach this goal
He also said that, some 9,000 rooms were being built or construction was approved at present.
Rambukwella also told reporters that in order to bring foreign exchange to the country through tourism and foreign investment the national security of the country should be ensured.
“A foreign investor with USD 50 million will not come to the country to invest if the country can’t ensure its national security,” he added. He also said there has to be political stability to safeguard foreign investors.
A stable and predictable tax system will attact foreign investors and the government can have a win-win situation for both parties.
He also said that UNP government could not bring in proper foreign investments to the country because they did not have a proper stable tax system. (Colombo, February 12, 2020)
– Edited by Arjuna Ranawana
Economic Intelligence Unit of the Ceylon Chamber of Commerce
Jehan Perera - Executive Director National Peace Council