A Study On Factors Influencing The Tourism Earnings In Sri Lanka

Abstract

This research aims to examine the variable that have greatest impact on tourism revenue in Sri Lanka. Sri Lanka has all the makings of a leading tourist destination in Asia. A number of opportunities were lost, however, due to poor economic policies, ongoing political violence, war , the Easter attack, Covid-19, and the economic crisis. Since 1983, when the civil war in Sri Lanka began, the country’s tourism industry has been severely hampered by the conflict, which ended only in may 2009. After the fighting stopped, tourism in Sri Lanka quickly recovered and is now driving the country’s economic recovery. The travel and tourism sector is one of the most intricate in the global and national economic. The tourism industry’s success is highly dependent on environmental factors and has far-reaching direct and indirect effects on other economic spheres. Finding out what factors affect tourism revenue in the primary goal of this research. Quantitative secondary data from institutions are the sole basis for this research. Information compiled from travel- Related periodicals covering the year 2000-20222. In addition, non-Parametric analysis was used with the Kuruskal- Wallis test implemented in Minitab for this study. This paper shows that the tourism industry in Sri Lanka can play an important role in the country’s economic growth. The main findings of this research are that the end of civil war/peace and improved socio-economic conditions have a significantly positive relationship with earnings/revenues from tourism in Sri Lanka. At The same time, civil war/ internal conflict, the Easter attack, COVID-19 and the economic crisis of the country have a negative relationship with earnings/ revenues from tourism in Sri Lanka.