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Monday December 11th, 2023

Russian tourists lead Sri Lanka winter tourism arrivals

FILE PHOTO – Tourists on the Southern coastline

ECONOMYNEXT – Russian travellers are leading  Sri Lanka’s tourist arrivals in the 2022 winter season as the Indian Ocean island undergoing the worst currency crisis in the history of its soft-pegged central bank.

From November 1-24, Sri Lanka has welcomed 45,560 tourists led by 11,041 Russian holiday makers, followed by 8,075 Indians and 3,569 British.

“The bulk is coming from Russia and its going to down south – Ahangama, Weligama, up to Matara, Tangalle, Unawatuna. That area is packed,” Priyantha Fernando, Chairman of Sri Lanka Tourism Development Authority said.

“It’s the middle market family crowd and youngsters we are getting – not backpackers or high end but definitely bookings from Russia are very good.”

Sri Lanka was hopeful to attract travelers from the European and the American market for the winter season especially long-haul holiday-makers.

But European markets are going through an energy crisis and high inflation, after the Federal Reserve and European Central Bank printed money.

“Europeans have their own issues right now,” Fernando said. “Also we had an issue in the German market with a recent travel warning which being sorted at the moment.”

Decembers and January looks better, he said.

“The numbers are still low as Sri Lanka’s key winter-season European market is going through it’s own financial crisis,” M Shantikumar, President of Sri Lanka’s Hoteliers Association said.

Officials are hopeful Sri Lanka will end the month around 55,000 tourists, while December might see a 10-20 increase in arrivals.

Shanthikumar says the country needs to focus on direct consumer marketing as most are still not aware that the issues in island have been sorted.

Sri Lanka has received 613,818 tourist so far this year. Sri Lanka was targeting 800,000 tourists for the full year.

Indians remain the top holiday makers in Sri Lanka with a total of 103,562 visiting the island up to November 24.

“With the Winter season currently on, we have our regular winter scheduled flights such as Aeroflot, Azur Air, Edelweiss, Swiss Air, Jazeera, Air France adding to the regular schedules,” Shehan Sumanasekera, Director of All Airport, Sri Lanka Airport and Aviation Services said.

“Which means the tourist arrivals during the month from November to  April will see a rapid increase.

“None of these airline are first times, most started last year. This shows that the airlines believe in the Sri Lankan market.”  (Colombo/Nov27/2022)

Comments (2)

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  1. Jan kerkhofs says:

    You need to advertise a little more in Europe otherwise you will lose these people who were just emerging and they will go to countries like Indonesia.
    Europe was on the rise for those attacks, but now it seems that they are ignoring Sri Lanka, also because of the negative coverage.

  2. Krishna Patal says:

    Yes they are and they are a bunch of unruly hooligans !! Ruined my holiday absolute disgrace

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Comments (2)

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Your email address will not be published. Required fields are marked *

  1. Jan kerkhofs says:

    You need to advertise a little more in Europe otherwise you will lose these people who were just emerging and they will go to countries like Indonesia.
    Europe was on the rise for those attacks, but now it seems that they are ignoring Sri Lanka, also because of the negative coverage.

  2. Krishna Patal says:

    Yes they are and they are a bunch of unruly hooligans !! Ruined my holiday absolute disgrace

Sri Lanka’s ousted utilities regulatory chief convinced he’ll be president

ECONOMYNEXT — Sri Lanka’s former public utilities regulatory chief Janaka Ratnayake, who was removed in May following a parliamentary vote, has confirmed that he intends to run for president.

Speaking to reporters on Sunday December 11 in the wake of an hours-long island-wide power outage the previous evening, Ratanayake said he will be the definite winner at a future presidential poll.

“I announced [my intention to run] officially on December 07, my birthday. I’m definitely coming as a presidential candidate. That’s not all, I’m the definite president at a future presidential election,” he said.

Ratnayake, in his first media appearance in months, was responding to questions about newspaper advertisements published on December 07 announcing his future candidacy.

Sri Lanka’s parliament on May 24 opted to remove the former chairman of the Public Utilities Commission of Sri Lanka (PUCSL), with 123 members voting in favour. This marked the first time a head of an independent government commission was sacked by Sri Lanka’s parliament.

Power & Energy Minister Kanchana Wijesekara, who had been at loggerheads with the regulatory chief, said at the time that the official had acted obstinately without the concurrence of fellow commission members.

The minister levelled five charges against Ratnayake, the first twoof  which were based on a February 10 verdict by the Court of Appeal rejecting an application filed by the offiical against an electricity tariff hike. Opposition legislators slammed the decision saying it undermined independent commissions.

Ratnayake’s presidential ambitions have been known for some time. A day before parliament voted to remove him, he told reporters: “If I can change the country, I will definitely join politics, because my intention is to serve the people and what is right.”

Ratnayake had blocked delayed a tariff hike in early 2023, resulting in losses to the state-run Ceylon Electricity Board (CEB), Minister Wijesekara claimed at the time. The PUCSL had als onot enabled tariff hikes for nine years, requiring its governing law to be changed, Wijesekera said.

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Sri Lanka wants university research to lead to commercially viable products

ECONOMYNEXT – Sri Lanka’s ministry of industries wants to ensure commercially-ready products and services are produced by university research, by facilitating partnerships with factories and entrepreneurs.

After a currency crisis, Sri Lanka’s government is in a drive to boost its trade balance by increasing exports.

“Our export basket hasn’t changed recently, partly because our small and medium entrepreneurs don’t have sufficient research and development facilities (like the multinationals) to innovate their products for the export market,” Additional Secretary of the Ministry of Industries, Chaminda Pathiraja said.

“At the same time, state universities and research institutes produce a large amount of research findings yearly, which end up sitting in those institutions; they don’t reach the industry,” Pathiraja said at a press briefing to announce a program on commercialization of new products and research, to be held tomorrow at the Waters Edge.

The networking forum will bring innovators and manufacturers together to focus on the commercialization of research for the value added tea, coir, spice, dairy products, gem and jewellery and packaging products industries.

“We want to encourage collaboration, through programs like our University Business League etc, so that the research output can be commercialized, and what is produced by our factories can increase in quantity and quality. We must focus on the export market.”

The objective of this program, he said, was to reduce the gap in acquiring innovators’ ideas and skills by the investors, and ultimately boost the manufacturing sector’s efficiency in alignment with the export market.
(Colombo/Dec11/2023)

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Sri Lanka rupee opens at 327.00/50 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee opened at 327.00/50 to the US dollar on Monday, from 327.00/30 Friday, dealers said.

On the Colombo Stock Exchange, both indices opened up: The All Share Price Index 0.28 percent at 10,823, and the S&P SL20 0.35 percent at 3,113.85.

Bond yields were up.

A bond maturing on 01.08.2026 was quoted at 14.05/20 percent from 14.05/15 percent.

A bond maturing on 15.01.2027 was quoted at 14.05/20 percent from 14.10/25 percent.

A bond maturing on 01.07.2028 was quoted at 14.20/50 percent from 14.20/35 percent.
(Colombo/Dec11/2023)

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