“Sri Lanka is the quintessential South East Asian holiday destination wherein everything falls perfectly into place” – Fodors
Sri Lanka is nothing short of epic. The country is fast emerging as among the most favored Asian holiday destinations, specifically in the South Asia region. The booming country offers to visitors the luxury of experiencing natural beauty in a tropical setting, all of which at reasonable cost. In addition, the abundance of wildlife in the island nation makes for unlimited possibilities of adventure, the chance for one to immerse and reconnect with nature.
By the latest projections, the Sri Lankan economy was pegged to be worth around $81 billion and the country is estimated to breach the $270 billion mark by 2017. The GDP growth is at a steady pace as Sri Lanka is forecasted to catch up on the top-performing economies in the Asian region. And considered as big contributors to the country’s expanding economy are the following sectors: tea export, apparel, textile, rice production and other agricultural product. No wonder, the tourism and hospitality industry is acknowledged as among the most important economic sectors now, the one thing that fuels the local economy. It serves as a solid testament of Sri Lanka’s viability as a property investment destination.
Tourism is on the Rise
Formerly known as Ceylon, Sri Lanka is the fresh gateway to the Indian Ocean – to marvel on its glory and vastness. And further inland, the tropical gardens, paddy fields and mountains serve as the majestic sanctuaries for the weary body and soul that look to rejuvenate. The country is rising and bustling in recent years, which ensure that property investments are supported in the long-term by a constantly growing and stable economy. The tourism sector, according to the government, saw a spike of 14 percent from 2015 to 2016, leading to more than two million foreign visitors in the year, which for Sri Lanka translated to foreign exchange earnings of US $3.5 million.