(MENAFNEditorial)
The Sri Lanka tourism report examines a range of key indicators in the emerging tourism market in the Asia Pacific region. Healthy domestic economic growth is boosting outbound tourism figures while improving regional and global travel connections are facilitating growth in inbound arrivals. With visitor numbers increasing we are forecasting healthy growth in tourism related expenditure and industry value and expect to see a range of developments in the market moving forward.
Maintaining the current stability is vital to the future of the Sri Lankan tourism industry as any recurrence of civil conflict will likely deter visitors and undermine the recent gains made in terms of infrastructure development. At present however President Mahinda Rajapaksa and his ruling coalition (the United People's Freedom Alliance) appear stable and able to formulate enact and enforce their policy agenda. While there are ongoing concerns regarding income inequality and ethnic divisions between the Sinhalese majority and Tamil minority at present the risk appears to be subdued - though it remains to be seen what impact the snap election in January 2015 will have.
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Provided that domestic security will be maintained we expect to see steady growth in arrivals to Sri Lanka. While arrivals are generally dominated by countries in the Asia Pacific region Sri Lanka also sees healthy arrivals from European markets such as the UK and Germany. As air travel connections are expanded and Sri Lanka improves its presence on the global tourism stage we expect to see annual growth of 10% a year in terms of arrivals.
Robust domestic economic growth boosted by strengthening ties with China and Japan will lead to steady gains in outbound travel as Sri Lanka's middle class expands and private financial consumption increases. We expect to see growth of around 6% to 7% per year in tourism departures. This will result in a slight increase in average tourism departures per 1000 of the...
The Sri Lanka Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport reason for travel origin and destination; and the accommodation market.
BMI's Sri Lanka Tourism Report provides industry professionals and strategists corporate analysts associations government departments and regulatory bodies with independent forecasts and competitive intelligence on the Sri Lankan tourism industry.
Key Benefits
* Benchmark BMI's independent tourism industry forecasts for Sri Lanka to test other views - a key input for successful budgetary and planning in the Sri Lankan tourism market.
* Target business opportunities and risks in the Sri Lankan tourism sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Sri Lanka.
* Assess the activities strategy and market position of your competitors partners and clients via our Company Profiles (inc. KPIs and latest activity).
Coverage
BMI Industry View
This contains a synopsis of our forecasts and any changes together with an overview of key trends and developments in the tourism industry and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects new hotel developments and acquisitions.
Industry SWOT Analysis
Analysis of the major Strengths Weaknesses Opportunities and Threats within the tourism sector and within the broader political economic and business environment.
BMI Industry Forecast Scenario
Forecasts to end-2018 for all key indicators (see list below) supported by explicit assumptions plus analysis of key downside risks to the main forecasts:
Inbound tourism: Arrivals (‘000) arrivals growth (% y-o-y) arrivals by region growth (% y-o-y) arrivals by country growth (% y-o-y) top 10 countries based on arrivals growth (% y-o-y).
Outbound tourism: Departures (‘000) growth (% y-o-y) departures by regional destination (‘000 and growth % y-o-y).
Travel: Methods of travel for arrivals (Air Ship Rail) (‘000) and (% growth y-o-y) international Tourism receipts for transport (US$bn) (growth % y-o-y) international Tourism receipts for travel items (US$bn) (growth % y-o-y).
Hotels: Hotel industry value (US$bn) (growth % y-o-y) (%GDP) (per capita) (per employee) number of hotels and like establishments (‘000) (growth % y-o-y) total overnight stays (‘000) (growth % y-o-y) length of stay occupancy rate (%) number of hotel rooms (‘000) (growth % y-o-y).
Industry Risk Reward Rankings
BMI’s Tourism Industry Risk Reward Rankings provide a country-comparative Risk Reward Rankings index aimed at investors (tour operators tourism infrastructure investors financial institutions) in the regional tourism market.
The rankings methodology makes sophisticated use of over 40 industry economic and demographic data points.
We also have Security Risk Reward Rankings which provide a detailed assessment of possible threats to the country (and by extenuation to the tourism industry) ranging from economic and political upheaval to terrorist attacks and organised crime levels.
Market Overview
This contains a comprehensive overview of the tourism industry in the country its overall value the value of its hotels industry trends in the hotels industry and any new developments. It also contains an evaluation of the top 10 global hotel groups’ presence in the country which brands are present in which cities the number of hotels and any planned developments and strategies. The Market Overview also considers the tourism infrastructure developments in the country in particular transport infrastructure projects such as ports and airports. Tables are also included from our regularly updated Key Projects Database which contain details of projects their value the time frame their current status the companies involved and their estimated completion dates.
Company Profiles
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