Ever since 18th May 2009, Sri Lanka has made rapid strides in luring tourists from all corners of the planet. So far tourist arrivals this year in comparison to last year has increased by almost 50%, and still we have not yet reached the ‘peak season’ for tourist arrivals which is normally the winter season for Northern Countries. Traditional markets for Sri Lankan tourism such as UK and Germany has already started to generate more leisure travelers. My guess is that we would easily surpass 600,000 arrivals this year at the end of the winter season. Even though this is a very small number in comparison to some of the more ’seasoned’ destinations such as Singapore, Thailand and Malaysia we are on the right track for further growth.
Unlike any other industry, Sri Lanka has a distinct product to offer when it comes to tourism. We provide a unique experience in a relatively smaller geography, which surpasses what India and Maldives in combination could offer. With the Sri Lankan government emerging victorious at the end of a 30 year conflict, several western nations in particular were eager to ‘probe’ how we brought the conflict to an end. Needless to say that these countries are ‘hurt’ as a battered nation such as Sri Lanka finally put a resounding full stop to terrorism. For 30 long years, the LTTE provided a great opportunity for these western masters to dictate terms to us and with the annihilation of the LTTE, they are naturally upset.
How else would one describe the decision to withdraw the GSP plus concession granted to this country when it is doing everything to emerge from poverty and economic stagnation. The emergence of the Tourism industry is important in this context since
1. Unlike Garment industry we need not depend on anyone on concessions and preferential access since Tourism is a product which cannot be easily regulated and controlled by these countries. (without curtailing the civil liberties of their own citizens to travel to any country they want).
2. Given the quality and the uniqueness of the product which we can offer, we can be very competitive in a very short period of time.
3. Almost all major conglomerates in the country who are currently operating in the Hotel sector have planned massive investments. This is also not restricted to Western Province alone. Large scale infrastructure development will take place in eastern province as well.
4. Boom in the construction of hotels would create many job opportunities in the country. Large scale projects are already being finalized by foreign investors. These fresh FDI plus local investments in Building hotels and resorts my mind would reach USD 1 Billion in my thinking in the immediate future. Considering the fact that we only have 14,000 rooms and that this would be atleast increased to 35,000 in the next 3-5 years would require such investments.
5. Sri Lanka’s stature as a regional naval and aviation hub would naturally grow with the influx of tourists. Large scale port projects undertaken by the government will make Sri Lanka Asian Naval hub in the next 10 years. Whats most heartening is the fact that the government has clearly identified Tourism as an industry with vast potential for Sri Lanka and many of their other activities are clearly in alignment with this.
With the dawn of peace in the country, lot of people are waiting to ride the wave of economic prosperity which is clearly visible. Our private sector is already quite positive about the prospects in front of us. While the majority waits to ride the wave to prosperity, the smart one’s should ‘’create waves’ and think creatively in order to grab the opportunities which in my mind are limitless in the current context.
There is no doubt in my mind that the next generation of Sri Lankan millionaires or billionaires are the one’s who will successfully ‘create the waves‘ in this current context rather waiting to ride a wave. Any new products or services which could be value adding especially to Travel/tourism/leisure sectors would be great if you are serious about creating your own wave.
Right now Sri Lanka is the most opportune place if you want to start fresh.