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Enhancing Sri Lankan economy through tourism by Andria Scott
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Enhancing Sri Lankan economy through tourism |
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Travel & Tourism
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There has been a massive change in the Sri Lankan economy over the past decade; more so in the post-conflict economy. After the end of the thirty year civil war, a positive outlook of Sri Lanka has been created and massive reconstruction and rehabilitation projects are taking place. The market economy status has emerged after the per capita income digits have doubled in an unimaginably short period of time. Inflation was controlled to single digits four roughly four and a half years while poverty levels reduced nearly six percent. At the same time, unemployment levels came down to less than 4 percent while infrastructure quality was in the same line as any other emerging economy. With an economic growth rate of over 8 percent for two successive years: 2010 and 2011, the country is ranked as one of the top five fastest growing nations in developing Asia. Tourism plays a major role in the Sri Lankan economy and the industry is growing rapidly. New Colombo hotels are being constructed and the airport development is increasing to make the country a key tourist and transit hub. There are many Colombo airport hotels close to the airport for all those in transit for a night. If tourists happen to be staying over in Colombo for 24 hours or more and would like to spend a little relaxation time, they could stay at one of the Negombo hotels where they can enjoy quality time on the beach. Readers should note that all the new constructions happening in the country are all in the form of foreign direct investments (FDIs). Thanks to these FDIs, many long term jobs are being created and as a result, locals will spend more and the economy will automatically boost further. In addition to providing jobs, these projects will make use of other non-human resources in the country. For example, hospitality ventures will need local products while manufacturing companies will make use of local raw material. These actions will lead to further growth of Sri Lankan businesses and hopefully this will lead to a better standard of living for all citizens of the country. To get the maximum results, the government needs to target key source markets and customize tourism to better cater to the needs of such markets. Furthermore, for successful marketing, Sri Lanka should partner with international tourism brands that give better visibility for the country in the targeted source markets.
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Colombo hotels, Colombo airport hotels, Negombo Hotels,
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