Tag Archives Sri Lanka

Sri Lanka Tourism confident of monumental growth in 2024

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Sri Lanka has set ambitious targets, aiming to attract 2.3 million tourists and generate over $4 billion from tourism in 2024. Looking ahead to 2030, the country is eyeing a substantial increase in arrivals to 5 million, with an impressive revenue projection of $21.6 billion. Central to this strategy is the goal of increasing average spending per visitor to $4,000, with a focus on attracting high-end tourists.

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Sri Lanka’s Construction Industry to face challenges with VAT Rise

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The recent surge in Value Added Tax (VAT) in Sri Lanka has cast a shadow over the construction industry, heralding a challenging period ahead. As the government implements this tax increase, the construction sector finds itself grappling with heightened financial pressures. This surge in VAT is expected to have a cascading effect, influencing various facets of the industry, from project costs to overall investment climate.

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