(Colombo, Lankapuvath) – An equities research report said Sri Lanka could attract 750,000 tourists from India over the next decade, or six fold if Sri Lanka can capture just 2.4 percent of that country's outbound market.
According to the report by Capital Alliance, a Colombo broking house, even if Sri Lanka maintains its current market share of 1.4 percent, the island could attract 440,000 Indians in 10 years.
The report projects, this year's arrivals to grow to 187,000, up from 127,000 last year as the country's total arrivals are expected to top 900,000 from last year's 650,000.
Arrivals from India started to boom before the end of the war after Sri Lanka scrapped pre-approved visa's for Indians, becoming the country's top generating market.
If the visa process is easy, it may not make a difference of more than 150,000 tourists a year, it further added.
The report projects 2.6 million arrivals by 2020 from all countries at a compound annual growth of 15 percent, mimicking that of Cambodia from 2001 to 2010.
The forecast is more conservative than the 2.6 million projected by Sri Lanka's tourism authorities.
A 30-year war ended in Sri Lanka in May 2009, boosting prospects for tourism, and arrivals rose 40 percent in 2010 and are up 36 percent in the seven months to July.
The report says India now has a 12.1 million a year outbound market. A 'cultural affinity' and proximity made Sri Lanka a ready market for Indian travelers. In South East Asia, neighboring countries including China are a key part of inbound travelers.
Passport holders in countries belonging to the Association of South East Asian Nations (ASEAN) can also travel freely among each country.
More direct daytime flights are also needed to carry more Indians to Sri Lanka. Goa for example has 17 flights from Mumbai and Delhi of which 12 are in the daytime, Capital Alliance said.
| < Prev | Next > |
|---|
