Foreign Exchange Earnings

Tourism vs. Remittances: Impact of Easter Attacks on Sri Lanka’s Foreign Exchange Earnings

Taking into account the locations immediately affected by the Easter Sunday attacks and its ripple effects, a short- to medium-term impact on foreign exchange earnings is likely to be experienced in Sri Lanka. The tourism industry, despite once being well-positioned to continue its upward trend in foreign exchange earnings, is now likely to experience a temporary downfall, while international remittances, which were experiencing an incipient downward trend, are likely to experience a temporary upturn in the aftermath of these attacks, argues Bilesha Weeraratne.