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BOI creates vibrant tourism industry
Monday, 14 January 2008 - 12:53 PM SL Time
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`Tourism is one of the sectors where Sri Lanka has a comparative advantage and which I strongly believe can be made to bring in US$ 1 billion in foreign earnings. Our tourism product is diversified so we have a lot to offer the traveler. We also have a very strong base of qualified tourism industry professionals. In short we have a mature, balanced tourism sector that has all the ingredients for taking off. I have no doubt that it will become a US$ 1 billion industry`. Dr Sarath Amunugama, Minister of Enterprise Development and Investment Promotion, expressed these views at a recent meeting where all the leading tourism industry professionals were present.
The Board of investment of Sri Lanka whose principal role is to attract Foreign Direct Investment into the country has actively promoted the tourism sector. Tourism is one sector where investment can help achieve the economic goals of the Government such as bring in capital, create new employment opportunities and develop new skills.
Tourism has many advantages over other sectors of the economy and for these reasons this area has been actively promoted by the BOI. One such reason is that it is a service industry and therefore it is often more environmentally friendly than many industrial sectors.
Another attractive aspect of tourism is that it can impart skills and create employment for large numbers or young people who often live in outlying areas. This is in line with the policy of the Government of Sri Lanka.
Tourism can also help develop awareness about Sri Lanka, her people and her culture. Many foreign investors and businessmen began their association with Sri Lanka as visiting tourists. They have often acted as unofficial ambassadors, supporting the Nation through their investments and by encouraging others to follow suit. Needless to say, tourism is an integral part in the building of a national image, a factor that has become increasingly important in the current global economic context.
Diversity of BOI tourism projects
Many of the industry,s most significant developments can be classified as BOI projects. Some of the major ones are the country`s most luxurious and prestigious hotels such as the Kandamala Hotel, a 162 room designed by world famous architect Jeffrey Bawa, in the Cultural Triangle. The Fortress at Koggala is a luxury hotel recently featured in the Conde Nast Traveler, which serves the world`s most expensive dessert. Another prestigious project is Saman Villas Hotel, near Bentota, which has 27 luxury suites with a spectacular view on the ocean. Elephant Corridor is another hotel that is located near Sigiriya. The Tree of Life Nature Resort is a 40- room luxury and eco friendly hotel that offers ayurvedic herbal treatment. The Dutch Bay resort at Kalpitiya will be an integrated project which will include 4,000 to 5,000 rooms in the 4 star and 5 star class, a marina, a yachting center, golf course and other facilities.
Other important projects in this sector include the Victoria Golf and Country Resort near Kandy and Water`s Edge near Colombo- both luxurious golf courses. Other projects that have started include hot air ballooning and theme parks such as Leisure World.
Investing in tourism: towards a more diversified product.
The BOI`s views on developing tourism as an industry stem from the idea that the country has a variety of experiences to offer to visitors and that factor can lead to the development of many new projects.
Investment in beach tourism project such as hotels and seaside resorts are particularly suitable since the island coastline can be used throughout the year. Hotels dot the Western, Southern and Eastern coastlines. Currently most of Sri Lanka`s tourists come to enjoy the beach experience.
But investments can also be made in other areas such as tourism projects to view wildlife, as Sri Lanka has reserves such as the Yala National Park, Wilpattu National Park, Sinharaja Forest and Udawala. There are many opportunities in a country, which has 86 species of wild mammals of which 16 are indigenous to the island. In addition there are 427 recorded species of birds of which 26 are indigenous.
Some tourists are attracted to the arts and culture of the country. For those who have an interest in history this could include visits to ancient sites such as Anuradhapura, Polonaruwa, Sigiriya or Dambulla. In addition there are the Dutch Fort City of Galle or Trincomalee. Or they may want to see traditional craft such as mask making or lace making as practiced in the coastal town. Once again there is a potential for investment in this connection.
Tourism emerged as the fourth largest foreign exchange earner for Sri Lanka. Tourism projects vary considerably and have reflected the transformations the local tourism industry has undergone. Initially tourism sector projects were targeted at the low cost, low value segment of the market. However many tourist professionals view the industry differently today.
They describe the local industry as a `Mature Tourism Sector`, which is moving towards niche marketing, value addition and specialization. Future investments will undoubtedly be targeting high-end tourists, who demand exclusive specialized services. However in recent years the focus has been on niche markets and value addition. Many tour operators are already offering such services. The trend is a move towards a more up market clientele.
The areas where investors can invest are very wide. The BOI currently encourages the establishment of travel and tourism related infrastructure, air and rail or water based transportation, thematic tours, ecotourism and golf courses, theme parks, sports activities, cruises, conventions and seminars, entertainment complexes, exclusive shopping malls.
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Freelankan
Joined: Oct 2007
Posts: 58
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 14 Jan 2008 12:29:03 GMT Report for Abuse
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| The editorial sounds very very attractive. For it to materialize the ethnic conflict has to be sorted one way or another creating a peaceful atmosphere. |
DrJones
Joined: Feb 2007
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 14 Jan 2008 16:37:44 GMT Report for Abuse
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| It certainly looks very attractive on paper. But guess what? We have seen it all before, the powers-that-be would do better to get off their asses and deliver goods. I am just sick of listening to fairytales. Until they actually do what they say they will, I will not believe a word they say, whether it's Dr.Sarath Amunugama or Dr.Vermin Silva who's saying it. |
justman
Joined: Mar 2006
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14 Jan 2008 20:22:57 GMT Report for Abuse
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| Before the BOI people invite anybody to invest in SL,Get Peter Hill back to SL to do his job in Srilankan.He was doing his job well and BOI was never supportive of him,instead got him deported.Investors are not fools to put their hard earn money in a country,which does not guarantee a trouble free existence in SL.BOI get your house in order! |
Gaja
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 14 Jan 2008 20:36:19 GMT Report for Abuse
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Justman,
Investors are not fools to put their hard earn money in a country,which does not guarantee a trouble free existence in SL.BOI get your house in order!
Investors come at three levels - Money, People and Common Values. The last of this is the ultimate goal. Whatever we do then will benefit someone some time. In a country like Sri Lanka, we need to be able to work with what we have and not expect a structured environment. Only those who feel 'natural' will succeed in real terms.
love
gaja |
freedom1
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 15 Jan 2008 05:24:49 GMT Report for Abuse
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Action speaks louder than words.
In Sri Lanka tourists and investors get discouraged at full force what makes tourism and property executives rave in Thailand, Cambodia, Vietnam and Malaysia.
For Asian and Western tourists SL is far to dirty and expensive. The best beaches are heavily polluted with garbage, dogs and sewerage whilst restaurants charge prices higher than in Europe.
In Thailand tourists get a huge buffet for 300 rupees, on SL beaches only a bit of vegetable rice. Hardly any restaurant can sell a beer legally whilst pimps offer kids alongside loads of heroin dealers.
Ok, not inside the lonesome Fortress, a deserted venture with zero infrastructure and entertainment around.
Anyway, many Sri Lankans do not even want tourists so that it is obsolete to have any expectations.
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raigamakolla
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 15 Jan 2008 06:32:10 GMT Report for Abuse
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Freedom1
I fully agree with you on the points raised. Slanka authorities do not even understand what makes tourists come to a country. Slanka is a wasted tourism destination with a lot of potential.
Those who talk highly about Kandalama now, were up against the project for none other than political reasons when the project was unvailed. Thanks then UNP government we have a Kandalama.
First thing a country should do to get tourists is to build good quality public toilets in all major towns and tourist attractions. |
LankanWay
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 15 Jan 2008 06:39:36 GMT Report for Abuse
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Many beautiful hotels in Lanka. Good to see BOI is doing a great job.
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freedom1
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15 Jan 2008 06:53:09 GMT Report for Abuse
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Many beautiful hotels in Lanka. Good to see BOI is doing a great job
Who covers their losses? Sri Lankans only make money out of building hotels when foreign money comes in.
After that most projects become costly failures such as for example the biggest Hikkaduwa Hotel Coral Garden located right next to a smelly sewerage channel that flushes excrements over the beach into the sea.
Right next to it a huge amount of stray dogs.
No surprise that this project is for sale since a long time like so many others. Countless hotels and beaches are for sale. Guess why ?
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freedom1
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15 Jan 2008 07:02:45 GMT Report for Abuse
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Raigamakolla,
the Kandalama is a great hotel with a tremendous service.
But without loads of upper class tourists they generate vast losses. SL has to become competitive to Thailand where increase and return rates generate incredible wealth and funds for improving the infrastructure.
In SL there are very few areas where tourists can enjoy a normal walk without getting harassed or polluted by car smog and bus noise.
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