Sri Lanka's tourism sector has seen a remarkable increase in revenue, earning approximately USD 1.5 million in the first half of 2024,...
Sri Lanka's tourism sector has seen a remarkable increase in revenue, earning approximately USD 1.5 million in the first half of 2024, according to the Central Bank of Sri Lanka (CBSL). This figure represents nearly double the growth compared to the same period last year, highlighting a strong recovery and growing appeal of Sri Lanka as a tourist destination.
In addition to the boost in tourism earnings, the CBSL reported that foreign workers' remittances reached USD 3.14 million in the first six months of 2024, up from USD 2.82 million in the same period in 2023. This increase in remittances further supports the nation's economy.
The country's official foreign reserves also showed a positive trend, rising to USD 5.7 billion by the end of June 2024. This growth in reserves reflects improved economic stability and increased confidence in Sri Lanka's financial outlook.
Moreover, the Sri Lankan rupee appreciated against the US Dollar until June 2024, further indicating a strengthening economy. The combination of higher tourism revenue, increased remittances, and stronger foreign reserves positions Sri Lanka for continued economic growth and development.
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