SL lures US$ 71.53mn worth investments for tourism projects this year

Sri Lanka’s tourism sector has attracted US$ 71.53 million worth of investment proposals in the period up to 16th of August this year, latest Sri Lanka Tourism Development Authority (SLTDA) data showed. 

During the period, SLTDA has received 43 investment proposals to add 773 rooms to the country’s hotel room stock. As of 31st June this year; SLTDA has approved 16 of these investment projects valued at US$ 25.39 million adding 224 rooms. 

In 2023, SLTDA received 68 investment proposals valued at US$ 237.70 million, of which 34 investment projects were approved to the tune of US$ 170.13 million and adding 1273 rooms. This figure was also the highest since 2020. Although 54 investment proposals worth US$ 837.85 million were received in 2020, only 24 at investments worth US$ 95.47 million were approved in the year.

Over the years, Sri Lanka has seen a slowdown in tourism investment projects driven by global and local incidents.
Overall, since 2020, SLTDA received 252 investment projects at an  estimated value of 1349.253 million and only US$ 431.804 million worth projects (adding 3502 rooms) have been approved in the period up to 31st of June this year. 

(NF)