Tourism would be elevated as the second highest foreign exchange earner in the country by mid-2016, said President Travel Agents Association, Mahen Kariyawasam.

Speaking to Daily News Business on the third day of the Arabian Travel Market here in Dubai he said that currently the industry occupies the third position after foreign exchange remittances and the apparel industry. In 2013 for the first time the travel industry surpassed US$ one billion revenue mark and the prediction for 2014 is that this figure would pass the US$ 1.5 billion mark.

“With such a lot of global hotel brands like Shangri La, Hyatt, Ozo, Best Western, Movenpeck opening in Sri Lanka in the next two years we expect more high spenders to visit Sri Lanka and this would generate extra revenue for the country,” he added. He said that in addition the expanding Chinese market too would have a major positive impact on the industry. He however said that due to the crisis in Ukraine this year there may be a slight drop in overall arrivals. Commenting on the ongoing Arabian Travel Market he said that it was one of the best. “The stand has been done in a very professional manner and other arrangements too were up to the mark.” He also welcomed the move by the organizers to make the ATM a event strictly for professionals. He also said that the Middle East market was a very important one and the ATM was the best tool to reach this target.

According to IT giant Cisco, mobile data traffic in the Middle East and Africa region will grow faster than in any other part of the world between now and 2018 with the penetration of smart phones and tablets using the latest technology forecast to reach 598 million devices within the next four years, up from just 133 million in 2013.

Source: http://www.dailynews.lk/?q=business/tourism-income-pass-us-15-b-mark-2014