FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» In STOCK MARKET despite all odds, there is always hope. Never ever give in nor give up.
by atuts Yesterday at 2:14 pm

» The war in Ukraine is no longer shocking the wheat market
by ResearchMan Sat Jul 02, 2022 2:10 pm

» India raises import tax on gold to support rupee and amid trade deficit
by ResearchMan Sat Jul 02, 2022 2:09 pm

» When will supply chain disruptions ease?
by ResearchMan Sat Jul 02, 2022 9:57 am

» KHL Massive forex gains close to 6 billions
by rajini Fri Jul 01, 2022 10:54 pm

» Tourism in Sri Lanka: One step forward, two steps back
by rajini Fri Jul 01, 2022 9:21 pm

» Expolanka to continue its winning streak
by samaritan Fri Jul 01, 2022 4:12 pm

» Govt gets its priorities wrong
by samaritan Fri Jul 01, 2022 10:25 am

» Ambassador assures U.S. support to Sri Lanka to find solutions to economic issues
by samaritan Fri Jul 01, 2022 10:16 am

» IMF-Sri Lanka bailout talks end without a deal
by ChooBoy Fri Jul 01, 2022 9:16 am

» Sri Lanka Breaks Into Hyperinflation Zone Amid Dollar Crunch
by CHRONICLE™ Fri Jul 01, 2022 8:11 am

» Sri Lanka needs to do more on debt restructuring before a bailout package is finalised, says IMF
by CHRONICLE™ Fri Jul 01, 2022 8:06 am

» Global COVID cases rise as BA.4 and BA.5 expand
by samaritan Fri Jul 01, 2022 7:04 am

» POSITIVES & TARGETS BY IMTIAZ BUHARDEEN
by Gowri123 Wed Jun 29, 2022 4:38 pm

» We’re seeing a shift toward international and value stocks, says Schwab’s Kleintop
by target1 Wed Jun 29, 2022 2:40 am

» Wall Street stumbles as consumer pessimism stokes growth fears
by target1 Wed Jun 29, 2022 2:34 am

» Free Market Capitalism vs. Crony Capitalism
by target1 Wed Jun 29, 2022 2:30 am

» Sri Lankan corporations reap large profits as workers and rural toilers face poverty and starvation
by CHRONICLE™ Tue Jun 28, 2022 6:37 pm

» අද රාත්‍රියෙන් පසු, යක්ෂයාගේ හෝරාව ඇරඹේ!
by God Father Tue Jun 28, 2022 6:13 pm

» Derana 360 with Minister Dhammika Perera
by samaritan Tue Jun 28, 2022 1:07 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Preparing for a downturn?

Preparing for a downturn?

2 posters

Go down  Message [Page 1 of 1]

1Preparing for a downturn? Empty Preparing for a downturn? Fri May 18, 2012 12:33 am

CSE.SAS

CSE.SAS
Global Moderator

Tourism is Sri Lanka’s phoenix. After rising from the ashes of war, it has spread its fiery wings and taken off to bring hope to many and bolster the overall economy. Yet, despite positive statistics, there is fear that the light could dim if policies do not become more aggressive and comprehensive.

On Wednesday, the latest data released by the Sri Lanka Tourism Development Authority shows that tourist arrivals rose 9% to 69,591 in April from a year earlier, continuing the growth momentum established in 2010. The largest arrivals from a single country came from neighbouring India, which recorded an arrival base of 15,432 in April, a 4.9% increase from February 2011.

However, the UK, which is the second biggest market, recorded a decrease of 11.3% with just 8,019 tourists coming into the country. The UK recorded a negative mark in January and February as well. Taking up the positions as third, fourth and fifth, Germany, France and Australia fell into line respectively with arrivals of 4,645 (12.9%), 4,533 (9.5%) and 3,554% (6.4%). Regionally, Western Europe recorded the largest number of arrivals, 25,018, a 7.8% increase from the same month of the previous year. Arrivals from South Asia were 20,532 (4.9%), East Asia 8,950, Eastern Europe 3,583 and North America 3,238.

The Pathfinder Organisation in a recent report pointed out that despite the positive sentiment surrounding the tourism sector, current trends have become a source of concern. Historically, hotels have made their money during the peak seasons in European winters and summers. They have sought to break-even in the intervening relatively fallow periods.

The think tank insists that, in recent months, occupancy rates have been disturbingly low and the forward bookings are also not as encouraging as they should be to meet the Government target of $ 1.2 billion for earnings from tourism in 2012. The current trajectory also raises serious doubts about the attainment of the medium-term target of 2.5 million arrivals by 2016.

This poses some important questions. What is likely to be the impact on the tourism sector of the prolonged recession in Europe? The downturn in Sri Lanka’s main tourism market will be a major drag on long-haul tourism for many years. What more can be done to promote Sri Lanka as a tourism destination in new markets, in Asia, Australia and East/Central Europe?

The belief in some quarters that post-war Sri Lanka is so attractive a destination that it does not have to be promoted has proved to be ill-judged at a time when even well-established competitors have been aggressive in their marketing. Have room rates been increased too much and too quickly before Sri Lanka has established a sufficiently robust track record?

The report also opines that establishing a floor rate for hotels was an unsound decision as it would make it harder for companies to deal with a sudden downturn. Hopefully, these dire forecasts will not come to pass but there is an undeniable need to have more consistent and aggressive policies to govern the industry. There is also need for more good governance and transparency in the process as well.

Sri Lanka needs to move away from the habit of classifying every foreign traveller as a tourist and instead concentrate on what their requirements are so that services and revenue streams can be expanded. This would also be necessary to target high-earning tourists and concentrate on markets in Asia. More environmentally-sound development projects that are transparent and promote local labour are among a host of actions that could be taken. As far as promotions are concerned, there is a need to concentrate on emerging markets as well.
http://forum.srilankaequity.com/post?f=4&mode=newtopic

2Preparing for a downturn? Empty Re: Preparing for a downturn? Fri May 18, 2012 1:59 am

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

CSE.SAS wrote: Have room rates been increased too much and too quickly before Sri Lanka has established a sufficiently robust track record?

We so stupidly increased the hotel prices without focusing on facilities for tourists. Its absolutely crazy...
Sometimes I feel so sad about the tourists who come to Sri Lanka. They are paying crazy prices for relatively average type hotel accommodations.

I was so amased to know that some 2, 3 star hotels in Kandy charge $80 to $ 100 per night..!! Thats ridiculous.

You can go a 5 star holiday package in Thailand for much cheaper cost..Evil or Very Mad

Line of balance is so poor in Sri Lanka

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum