The travel and tourism sector is an important income generator for Sri Lanka. However, the ongoing economic crisis coupled with Ukraine–Russia war and China’s zero-COVID policy has put the sector in jeopardy. Against this backdrop, the country will face an uphill task in restoring a once thriving sector, says GlobalData, a leading data and analytics company. Tourism accounted for more than 12% of the country’s GDP in 2019 and the third-largest source of foreign exchange reserves - behind worker remittances and the apparel industry. According to GlobalData, international arrivals in Sri Lanka more than quadrupled from 448,000 to 1.9 million between 2009 and 2019, reaching a peak of 2.3 million inbound visitors in 2018. Concurrently, inbound tourism spending increased rapidly from $39...
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