‘The middle-income transition’ – a challenge that dozens of countries are grappling with and, as of late, is increasingly being spoken about in Sri Lanka as well. A recent business forum (by LBR-LBO) was one of the first private sector …
China’s rebalancing towards consumption will have positive impacts for those looking to sell into the Chinese market, with the right products at the right price. With a booming Chinese middle-class, there could be niche markets available for Sri Lankan exporters. Overall, it will be interesting to see how China’s rebalancing pans out. The global economy’s reaction to it will certainly give a good indication of to what extent China’s economy is now ‘systemically important’ than before. But whichever side you’re on – the panda-huggers or dragon-slayers, one thing is clear – the Sri Lankan private sector and policy planners must keep a close eye on the developments in the Chinese economy.
In this feature article marking World Tourism Day (27 September), Kanchana Wickramasinghe argues that the hotel sector must pays more attention to the importance of water conservation. She reveals that water consumption, per guest, in a hotel can be around three times that of the average consumption of a person staying at home. In this scenario, the relationship between the tourism industry and water resources becomes a key area of concern for sustainable tourism development. Sri Lanka has witnessed a significant growth in the arrival of tourists from all around the world, with more investments taking place in the hotel sector to cater to this demand. Consequently, the demand for water resources has also increased in this process.
Driving innovation in Sri Lanka is now increasingly being recognized as a key determinant of the country’s long term growth prospects. Everyone from private sector leaders to government policy planners are keen to understand how the power of innovation can be ignited to drive enterprise profitability and drive faster and inclusive growth nationally. We decided to tackle this issue in the latest version of the IPS Talking Economics Digest through an ‘Innovation Special Issue’.
In the second article in the Talk Nanotech special series, we have a guest article by Shalini Dharmawardena, Senior Economist (Economic Research Department) – Central Bank of Sri Lanka. She argues that the industrial thrust, budgetary allocations, commitment of financial institutions, education policy, and private sector enthusiasm will be the key success factors in achieving a competitive edge for Sri Lanka in the international nanotechnology arena. She emphasises that collaboration is essential, with a synergy of state allocated funds, private sector participation, expatriate scientists contribution, and the financial sector involvement.