Date: August 01, 2024
The Central Bank of Sri Lanka has reported a significant increase in earnings from the tourism sector and remittances in the first half of 2024.
In the first six months of this year, Sri Lanka earned $1,557 million from tourism, marking nearly double the growth compared to the same period last year. This surge reflects a robust recovery in the tourism sector, which has been a crucial contributor to the country’s foreign exchange reserves.
Excluding tourism earnings, the total receipts from the service sector reached $1,762 million during the first half of 2024. This figure indicates a broad-based increase in service sector revenues.
Additionally, remittances from foreign employees have risen to $3,144 million in the first six months of this year, up from $2,823 million during the same period last year. This growth in remittances further strengthens the country’s economic position.
The Central Bank also reported an increase in Sri Lanka’s gross official reserves, which have climbed to $5.7 billion by the end of June.
Furthermore, the Central Bank noted that the Sri Lankan rupee has appreciated against the US dollar through June, reflecting positive changes in the country’s economic indicators.
