2024 Budget unveils transformative plans to boost tourism

Tourism Minister Harin Fernando says game-changing vision, lauds 2024 Budget Budget 2024 allocates Rs. 1 b to formulate new laws for tourism sector

Tourism Minister Harin Fernando has lauded the 2024 Budget, calling it a game-changer for Sri Lanka’s tourism sector. The budget allocates a substantial Rs. 2.3 billion to enhance tourism, positioning the country as a premier global tourist destination. Minister Fernando emphasized that these allocations are not just proposals but a well-thought-out execution plan to propel Sri Lanka into a top travel destination.

President Wickremesinghe, in his Budget speech, outlined the government’s commitment to a comprehensive marketing campaign, ‘Visit Sri Lanka,’ from 2024 onwards, aiming to attract five million tourists annually by 2030. The President stressed the importance of collaborative efforts at the provincial and local levels for the success of this vision. A significant provision of Rs. 1 billion was allocated to formulate a new tourism law, emphasizing the need for coordinated efforts among the government, provincial councils, and local institutions.

To tap into the potential of over 720 state-owned resorts and tourist bungalows, the President proposed a program to modernize and attract tourists, allocating Rs. 600 million for these development activities. The Budget also includes plans for improving botanical gardens, expanding domestic airports, and establishing new tourism zones in Trincomalee and Punarin. Overall, the 2024 Budget is seen as a catalyst for economic growth, cultural preservation, and elevating Sri Lanka as a coveted global travel destination.

Source: DailyFT

Date: November 14th 2023

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