Public Finance Data and Analysis
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In August, Sri Lanka's tourism earnings rose to US$ 282.1 million, up from US$ 210.5 million in August 2023 but down from US$ 328.3 million in July, with 164,609 visitors, an increase from 136,405 a year earlier. Cumulative earnings for the first seven months reached US$ 2,167.0 million, a 66.1% increase from 2023. The government has implemented a visa-free travel policy for 38 countries, aiming to boost arrivals and target US$ 3.5 billion in earnings by the end of 2024. Tourism, along with remittances, is crucial for Sri Lanka's external sector and economic stability, which suffered due to the 2022 crisis and subsequent IMF-mandated reforms.
