Economy News Update: In the first ten months of 2019, Sri Lanka’s tourism sector earnings are reported at US$ 2.806 million, compared to US$ 3.538 million in the corresponding period of 2018, the Central Bank of Sri Lanka’s latest External Sector Performance Report.
Tourism earnings were projected at 223 million US dollars in October 2019 compared to 287 million US dollars in October 2018.
Despite the Easter Sunday attacks in recent months, a gradual increase was reported in monthly tourist arrivals.
Tourist arrivals in October 2019 amounted to 118,743, with arrivals falling by 22.5 percent in October 2019, compared with a decrease of 27.2 percent in September and 28.3 percent in August 2019.
The decline in tourist numbers from main destinations like the United Kingdom and China has largely contributed to the year-on-year fall in tourist arrivals.
Meanwhile, the remittances of workers increased by 1.3 percent, year-on-year, in October 2019 to US dollars 607 million.
Workers ‘ remittances decreased cumulatively in the first ten months of 2019 by 5.8 percent to US dollars 5.537 million compared to the corresponding period in 2018.