With its spell-binding beauty, Sri Lanka has entranced explorers, adventurers and merchants for over thousands of years. No wonder the country is a complete tourism destination with its numerous unique experiences this island treasure has in store. Welcome to Exotic Sri Lanka!
By His Excellency Mr. Malraj de Silva, Ambassador of the Socialist Democratic Republic of Sri Lanka to the United Arab Emirates
“SRI LANKA IS ONE OF THE COUNTRIES WITH HIGHEST CELEBRATIONS & HOLIDAYS AS IT CELEBRATES EVERY MONTH”
The Conde Nast 2021 Readers’ Choice Awards last month has ranked the island among ‘The Best Countries to Travel to’ right now – reflecting the eagerness of tourists to flock to the island.
MANY REASONS TO VISIT SRI LANKA…
Despite its small size, Sri Lanka boasts of one of the highest rates of biological endemism in the world—whether in plants or animals—and is included among the top five biodiversity hotspots in the world.
ALLURING BIODIVERSITY
Teeming with wildlife parks and the surrounding ocean, home to large families of cetaceans including the mighty blue whales, sperm whales, and playful dolphins, the island is a paradise for wildlife enthusiasts and birdwatchers. Sri Lanka boasts one of the richest diversities of amphibians in the world, with over 106 species, more than 90 of which are endemic, offering the highest amphibian species density globally, with a high concentration in the Sinharaja rainforest.
ADVENTURE SPORTS
The endless expanse of beaches and miles of coastline attract many tourists to bask under its tropical sun. Other than taking a dip in the oceans or snorkeling, scuba diving and surfing are the most popular beach sports in the country. Today, the oceans, filled with coral gardens, a multitude of exotic fish, and ancient wrecks, offer one of the best diving experiences in the world. The sea around Sri Lanka is also one of the most challenging marine game fishing locations, while white water rafting, kayaking, and canoeing are some of the relatively new water sports practiced in the country. With a multitude of roads winding through expanding mountains, lush green forests, paddy fields, parks and sleepy villages, Sri Lanka also offers many opportunities to keen hikers and trekkers.
ANCIENT AYURVEDA
The endless expanse of beaches and miles of coastline attract many tourists to bask under its tropical sun. Other than taking a dip in the oceans or snorkeling, scuba diving and surfing are the most popular beach sports in the country. Today, the oceans, filled with coral gardens, a multitude of exotic fish, and ancient wrecks, offer one of the best diving experiences in the world. The sea around Sri Lanka is also one of the most challenging marine game fishing locations, while white water rafting, kayaking, and canoeing are some of the relatively new water sports practiced in the country.
RICH CULTURE
With a population composed of many races and religions, Sri Lanka is a riot of colour and music during festivals and celebrations. Every month brings a celebration of either religious or cultural importance, making Sri Lanka one of the countries with the highest number of celebrations and holidays.
STILL MORE TO COME…
Unlike other over-visited destinations, Sri Lanka remains a source of wonder because it is still evolving and expanding. In fact, a whole host of investment opportunities are available for investors seeking to be part of tourism projects that will accrue high returns.
Opportunities are available to invest in Small Scale & Large-Scale Tourism Projects as well as Strategic Development Projects. The destination is open to exploring novel ideas that will highlight and position the Island while ensuring sustainable practices and green building standards are adhered to, ensuring the sustainability of the Island.
The Sri Lanka Tourist Development Authority (SLTDA), along with the Board of Investment (BOI), facilitates investments into tourism while ensuring ease of doing business and speed. SLTDA works hand-in-hand with BOI with required arrangements to deliver the necessary support. Private lands can be purchased by investors with 49%-51% shareholding by foreign and local parties, while leasing is permitted 100% by a foreign company. Meanwhile, SLTDA-owned lands and state-owned lands can be acquired on long-term lease. The Government of Sri Lanka has arranged several financial and non-financial incentives for tourism investments such as VAT deferment for large-scale projects (for importation of capital and construction-related materials), a simplified VAT scheme (for small-scale projects during the construction period, VAT exemption), Custom Duty-free importation facilities, etc.
Over the past two years, SLTDA has played an active role in making a number of tourism projects available. Some of the future resorts planned include Mannar & Delft Island in the Northern Province and Kuchchaweli in the Eastern Province, aiming to offer an upmarket tourism product in the Eastern Region. The white sandy beaches contrasting the shaded blue ocean, along with the highlight of a herd of elephants walking through the resort premises regularly, make it a novel tourism experience that travelers will revel in. Currently, 298 acres of land are available for investments in the East.
The Kalpitiya peninsula, 150km north of Colombo in Puttalam District of the North Western Province, consists of 12 islands to promote environmentally friendly, sustainable investments. A strategic environmental study has been conducted, and controlled carrying capacity has been determined to minimize impact on the sensitive island environment, surrounding marine life, and related ecosystems. A 5000-room capacity resort is planned, and Battalangunduwa Island is currently available for investments with an expected investment of USD 100 Mn. The region is perfect for whale and dolphin watching.
Dedduwa, in the Galle district, is a wetland with rich biodiversity, developed to attract investors. Located 7KM east of Bentota and consisting of 1,714 acres, the ecology includes abandoned paddy fields, jungle areas, marsh wetlands, and mangroves. The aim is to develop an ‘integrated lake resort’ to promote a unique environmentally friendly tourism experience with star-class accommodation, water sports, adventure, other recreational activities, and a cultural village linked to agro-tourism. SLTDA is looking for a single investor or a consortium of investors to develop the resort with an expected investment of USD $500 million.
SLTDA has also established an Investment Relations Unit (IRU) to expedite and streamline the approval process for all tourism investments. This provides greater clarity on regulatory issues and allows investors to form a direct partnership with the administrative body. SLTDA’s Investor Relations Unit is the single point of contact for all tourism investments and offers accurate information and guidance. The Unit facilitates approvals from all government line agencies and approvals for the project after ensuring compliance with all relevant guidelines and regulations.
Over the last fifteen months (March 2020-June 2021), the government has attracted over $950 million in investments despite the ongoing pandemic, dedicated to revitalizing the island’s burgeoning tourism sector. 64 project proposals have been received, and 38 projects, worth $102.38 Million, have received approval. These ventures will be executed under the auspices of SLTDA. The level of interest shown by global investors is a positive sign for things to come, indicative of the immense potential inherent to the local tourism sector.
To ensure a faster and more convenient process for all investors, numerous measures have been put in place. By removing previous hurdles, streamlining the entire process for greater efficiency, and ensuring absolute transparency, the government has given investors a clear route. This provides interested parties with the guarantee they need when considering the long-term viability of their investment.
Sri Lanka Tourism is committed to creating an environment where travelers leave with memorable experiences, yearning to return to the Island, and investors are encouraged by the efficiency and ease of investing in the Country. With most international borders open and Sri Lanka perfectly positioned to attract the post-Covid traveler, stakeholders are poised and ready to welcome travelers and investors to Sri Lanka—a destination with a treasure trove of possibilities waiting to be discovered.
