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The Economy Base of Tourism Industry in Sri Lanka

Journal: Financial Markets, Institutions and Risks (FMIR) (Vol.5, No. 3)

Publication Date:

Authors : ;

Page : 23-32

Keywords : tourist attractions and arrivals; national income and tourism revenues; social and environmental impact; distribution of employment in tourism; economic growth through tourism.;

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The main purpose of the research is to contribute to developing knowledge in tourism industry of Sri Lanka. In this paper the author highlights some areas which should be properly explored for the sustainable growth in the sector of tourism and economic development in Sri Lanka. The author recommends promoting Sri Lanka as a product to the tourists, it is necessary to concentrate on the quality of the product as it helps in lengthening the duration of stay for current customers and thereby emerging new customers. Sri Lanka has a long history of tourism, dating back to the times of King Rawana's period (about 4000 years ago). According to different sources of historical accounts, many of the foreigners have visited Sri Lanka for many different reasons from various regions. Indian ancient calligraphy provide ample evidence of Hanuman and Prince Rama visited Sri Lanka not as tourists in the modern sense, but for a different reason about 4000 years ago. Local ancient chronicles also mention about Venerable Fa Hien from China, Marco Polo from Italy and Ibn Battuta from Arab also have visited Sri Lanka. The first Asians who visited were Arabs for trading purposes in 2nd – 3rd Century A.D. and later Portuguese landed by a mistake in early 16th Century (1505 A.D.), followed by Dutch and British culminating as invaders. Tourism in Sri Lanka is growing rapidly, for centuries and has been a popular place of attraction for foreign travelers. Tourist income is one of the important segments that contribute to the Sri Lankan economy. After Sri Lanka's Independence in 1948 the promotion of tourism was considered by re-establishing the Ceylon Tourist Board which took over the function of the Tourist Bureau. More formal recognition for the country's tourism sector was given with the enactment of Act No.10 of 1966 as Sri Lanka Tourist Board. The history of Sri Lanka helps to understand better this country, its culture, social and environmental impact and economic growth.

Last modified: 2021-10-22 03:21:23