Workers’ remittance, tourism muster USD 4.5 Bn by June 2024

Two key foreign exchange earners to Sri Lanka, workers’ remittances (inflows) surpassed the USD 3 billion mark while tourism revenue crossed the USD 1.5 billion mark in the mid-way stage (June) 2024.

Workers’ Remittances Inflows were USD 2,822.6 million from January to June 2024 showing 11.4% a year-on-year growth. The revenue in June 2024 alone was USD 964.2 million.

Tourism which is looking at achieving the golden double of 2.5 million arrivals and over USD 2.5 billion in revenue and making the year 2024 the best year for tourism was successfully travelling towards this target as the industry netted USD 1,556.6 million in revenue and showing a mammoth 77.9 % increase as against the corresponding period in 2023. (USD 875 million.) Tourism arrivals at the end of 2024 June stood at 1,010,249 also showing an increase of 61.7% as against the corresponding period the previous year. Sri Lanka’s 2023 tourism revenues increased over 80% to $2.1 billion from $1.1 billion in 2022.

Meanwhile, during the year up to July 19, 2024, the Sri Lanka rupee appreciated against the US dollar by 6.6%. Foreign currency reserves stood at 5, 601 million by June end 2024.

The post Workers’ remittance, tourism muster USD 4.5 Bn by June 2024 appeared first on DailyNews.