Bright Horizons: Navigating Tourism's Growth Revival
No. of Arrivals
With more than 150,000 arrivals YTD, India topped the
source market list in 2023
% Share
...Continued boost expected from India and China
Relaxed restrictions in China to boost tourist arrivals
and stimulate growth in Sri Lanka's tourism sector
First Capital
A Janashakthi Group Company
% Share
No. of Arrivals
450,000
400,000
35%
300,000
14%
30%
250,000
12%
350,000
25%
10%
300,000
200,000
250,000
20%
8%
150,000
200,000
15%
6%
150,000
100,000
10%
4%
100,000
5%
50,000
2%
50,000
0
0%
0
0%
2017
2018
2019
2020
2021
2022
2023 (Jan-
Aug)
2017
2018
2019
2020
2021
2022
2023 (Jan-
Aug)
Arrivals
% Share
Arrivals
⚫% Share
India emerged as the largest source market for outbound travelers in
Asia in 2022 with a registered growth rate of 190.0% YoY significantly
higher than the average global increase of 90%.
India, being the largest source market for Sri Lanka, offers significant
potential due to its rapidly expanding middle-income population. The
middle-class segment has grown from less than 10% of the total
population in 2012 to 31% in 2021 and is projected to double by 2047.
Over 50% of trips from India to Sri Lanka were for leisure purposes, with
business travel also on the rise, accounting for 16% in 2022.
Average spending per departure: 2022- USD 1,516.3 (2019- USD 859.0)
China accounted for 11.4% of the total tourists to Sri Lanka in 2018 and
remained the top source market next to India.
China is the leading country in terms of outbound tourism globally,
contributing to over 20.0% of the world's outbound tourism
expenditure in 2022.
Sri Lanka represents only 0.11% of China's outbound departures.
However, with the reopening of borders for travel, there is an
anticipated increase in Chinese tourist arrivals to Sri Lanka, supported
by an expansion in China Eastern Airlines flight frequency from 1 flight
to 5 flights per week.
Average spending per departure: 2022- >USD 10,000 (2019- USD 1,647)
Source: SLTDA, UNWTO
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