In 2009 the civil war ended, and the sunny nation of Sri Lanka went back to being a paradise island; a point proven by the influx of tourists pouring into the nation. By 2014 alone, half a million tourists arrived on the island. A land loved for its endless beaches, culture, traditions, and food; Lonely Planet listed Sri Lanka as one of the ‘best countries to visit in 2013’. Now fast forward to 2018 and the talk is that Sri Lanka is set to become the new Bali as our wonderful country has some of the best Surf Beaches in the world and the development of our hospitality and corporate sectors are going from strength to strength. Over the last few years, property prices in Sri Lanka have been steadily increasing as foreign investors start to lay down lifelong routes in the country, helping to build stability for jobs and tourism development across the nation.
This is the best time to invest in Sri Lanka’s tourism industry
- The Board of Investment for Sri Lanka – BOI, looking at drastically increasing FDI earnings, together with the government are offering foreign investors within the tourism industry a range of economic reliefs. The plan is working too with 2017 bringing a record high in FDI earnings, tourism being a top contributor. Already investing in Sri Lanka’s tourism trade are the Shangri-La Group, ITC Group from India, RIU from Spain and Minor Group from Thailand
- Set-up shop amongst the most beautiful coastal areas on the island. The government is concentrating on developing them into A-grade tourist resorts. Coming under the programme are Kuchchaveli in Trincomalee on the eastern coast, rustic Passikudah also on the eastern coast, Dedduwa close to the verdant River Madu in Bentota on the south coast and Kalpitiya on the north-west coast home to 14 different little offshore-islands
- Infrastructure is being fine-tuned – the Southern expressway now links Colombo to the south coast in an hour, while the Katunayake to Colombo highway takes tourists to their hotels in less than half hour within the commercial capital Colombo. Plans are underway for more highways linking Katunayake to the Cultural Triangle, Colombo to Kandy the hill capital and Anuradhapura to Jaffna the northern apex.
Ranking high amongst global travellers, Sri Lanka is now a lucrative nation for investors in the resort, leisure and hotel trade to capitalise on.