Tourist arrivals hit record high but earnings dip

Foreign tourist arrivals reached 145,745 this May, marking a 9.65 per cent rise compared to May last year and securing the highest-ever figure for the month in the history of the country. The Sri Lanka Tourism Development Authority released these metrics, with the Ministry of Tourism confirming the historic nature of the milestone.

Central Bank of Sri Lanka data showed a contrasting trend for economic returns, as dollar-denominated tourism income dropped by 5.11% to 155.7 million dollars from the 164.1 million dollars recorded in May last year. Rupee earnings, however, climbed by 3.0% to 50.6 billion rupees from 49.1 billion rupees a year earlier, a discrepancy driven by the appreciation of the US Dollar against the Sri Lankan Rupee. For the initial five months of this year, cumulative tourism income fell 11.9% to 1.36 billion dollars, down from the 1.54 billion dollars achieved during the same timeframe last year.