Sri Lanka tourist earnings down 10-pct in Nov 2019
ECONOMYNEXT – Sri Lanka’s tourism revenues were estimated to have been down 10.5 percent from a year earlier to 332 million US dollars in November 2019 official data showed.
The revenues which is an estimate is in line with the arrival fall of 9.5 percent in November.
Sri Lanka’s tourism arrivals fell 70 percent in May 2019, after suicide bombings on Easter Sunday, but have been gradually recovering.
Hotels have said they discounted prices to attract visitors.
Up to November, tourism revenues were estimated to be 3,183 million US dollars down 19.6 percent from a year earlier.
In rupee terms revenues were down 10.4 percent to 561.5 billion rupees.
Sri Lanka’s rupee collapsed in 2018 as the central bank printed money just as the economy was recovering from a previous balance of payments crisis in 2015/2016. (Colombo/Dec14/2019)