Sri Lanka holiday industry positive as stock market reaches two year high
Sri Lanka's stock market has seen its highest level in two years thanks to an increase in tourism and travel shares. The value of the country's stock market has been given a push by more people now choosing Sri Lanka as their holiday destination
Sri Lanka's stock market has risen to its highest level in two years with the main reason being down to an increase in shares in the tourism and travel sector. There has been a substantial increase in people taking Sri Lanka holidays and breaks to Sri Lanka hotels during June and July of this year and future bookings to the beautiful destination are also on the increase.
Travel industry experts think that this is mainly down to the end of the 25 year war which had previously put visitors off booking a Sri Lanka holiday and therefore kept travellers away for a long period.
CSEHT, the hotel and travel index, reached its highest levels of 2548.34 points and in 2009 it is up 168 percent. Broker at First Guardian Equities, Mohandas Thangarajah, said:
"Investors are interested in hotel shares and blue chips. New IPOs (Initial Public Offerings), declining interest rates and increasing tourist arrivals have helped the market to boom."
With a recent re-branding campaign which saw the replacement of Sri Lanka's logo and tagline from, Sri Lanka, Land Like No Other, to Sri Lanka, Small Miracle, more tourists are expected to book a Sri Lanka holiday and visit the island in the near future.
Tourism officials and local businesses welcome the good news that Sri Lanka is climbing back on the travel industry ladder, despite the recent economical crisis, and look forward to the influx of 500,000 tourists predicted to visit the country this year.
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