Tourism industry in 2018

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Earnings from tourism continued to be a major source of foreign exchange to the country, supported by a healthy growth in tourist arrivals during 2018. Tourist arrivals grew by 10.3% to 2,333,796 in 2018, recording the highest annual tourist arrivals during a year. Tourist arrivals from all major regions, except East Asia and the Middle East, increased in 2018.

Earnings from tourism increased by 11.6% to $ 4,381 m in 2018, in comparison to $ 3,925 m in 2017. This was partly due to an increase in average spending by tourists. On an encouraging note, investments in the tourism sector expanded further in 2018.

During 2018, the Sri Lanka Tourism Development Authority (SLTDA) received proposals for 141 hotel projects amounting to $ 919 m, in comparison to 95 projects with a total investment of $ 314 m in 2017. A total of 44 hotel projects have been approved by SLTDA, entailing an investment worth $ 201 m, which will add 1,302 rooms to the industry.

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