Major Sri Lanka tourism boost from China and India noted by Fitch experts

Tourist arrivals in Sri Lanka will be boosted by growing numbers of Chinese and Indian visitors, according to Fitch rating experts reported in the Daily News.

Fitch expects tourist arrivals to reach 3.6 million in 2020.

The report notes that “Fitch expects Sri Lanka tourist arrivals to grow by a compound annual growth rate (CAGR) of 15% over the next four years (2016: 14%), driven primarily by the rapid increase in the inflow from Indian and Chinese markets”.

MICE a top target

A major target is the MICE (Meetings, Incentives, Conferences, and Events) sector, which Fitch notes is currently “significantly under-exploited, accounting for less than 1% of tourist arrivals in 2016”.

“Aggregate tourist arrivals from India and China have trebled over the past five years, and accounted for more than 30% of the total tourist population in 2016.

“We expect government’s destination-promotion campaigns, which are directed primarily at Asian markets to boost arrivals from Indian and Chinese regions, to outpace European traffic over the medium term.”

Read more here.

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