Sri Lanka Tourist Earnings Fall 10% in Nov

Revenue drop is in line with the fall in arrivals

ECONOMYNEXT.com – Sri Lanka’s tourism revenues were estimated to have been down 10.5% 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% 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% from a year earlier.

In rupee terms revenues were down 10.4% 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.

Hospitality Insider Issue 4