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Analysis

Sale and usage of smartphones growing steadily in Sri Lanka
OBG
plus

The Sri Lanka mobile internet market is experiencing fast, healthy growth. As technology improves and consumer habits change, the online world is quickly moving from desktop to handheld devices. In some ways Sri Lanka is already ahead of the curve; it was the first country in South Asia to adopt 4G and is making progress towards the rollout of 5G. However, execution has so far been less than…

Overview

Post-civil war Sri Lanka characterised by inclusive governance, consistent growth and rising population
OBG
plus

Sri Lanka has long served as an important strategic destination in the Indian Ocean, catering to merchants and travellers from South-east Asia, India, the Middle East and East Africa. Formerly known as Ceylon, the island was visited and admired by the likes of Marco Polo, who called it “the finest island of its size in the world” well before the arrival of imperialist nations. A diverse colonial…

Overview

Fiscal reform and trade deals drive economic growth in Sri Lanka
OBG
plus

After years of internal conflict, Sri Lanka is enacting political and economic reforms to exert its renewed influence in the region and become an independent, global player. Time will tell if the authorities will be able to implement challenging reforms and position the nation on the international stage. History Sri Lanka’s first inhabitants were hunter-gatherers who likely crossed a land bridge…

Overview

Export outflows and investment inflows set to grow in Sri Lanka
OBG
plus

Trade and investment activities in Sri Lanka benefit from the country’s location along busy Indian Ocean trade routes, access to the larger markets of India and Pakistan, abundant agricultural and industrial exports, and a young skilled workforce. Value-added textiles have joined tea, rubber and spices to become a major export earner in recent years, while foreign direct investment (FDI)…

Overview

CEOs tip textiles to lead Sri: Lanka’s export revival in 2018
OBG
plus

As Sri Lanka sharpens its focus on achieving $20bn in export earnings by 2020, executives interviewed for OBG’s most recent Business Barometer: Sri Lanka CEO Survey have resoundingly voted for textiles and apparel as the export segment likely to experience the highest rate of growth in overseas shipments in 2018. Some 77% of CEOs who took part in our face-to-face survey predicted that the…

Overview

Regulation reforms, credit growth and strong macroeconomic indicators bode well for Sri Lankan banking sector
OBG
plus

Improving economic growth, an increasingly sophisticated domestic market and regulatory reform are the main factors shaping the Sri Lankan banking sector. Stability has become a watchword following a period of rapid credit growth, as a flourishing private sector boosted the development of a previously underbanked market. Although the sector has a healthy growth outlook, the central bank is…

Overview

Reforms leading to sustainable, long-term economic development in Sri Lanka
OBG
plus

Sri Lanka benefits from its strategic geographic position along a critical Indian Ocean trade route, strong base of industrial and cash crop exports, and rapidly expanding non-agricultural economy. High levels of public expenditure and rapid industrial expansion supported recent robust macroeconomic growth, averaging more than 6% between 2008 and 2014, as the country embarked on a period of post-war…

Overview

Capital markets reforms strengthen regulation, increase efficiency and broaden product range in Sri Lanka
OBG
plus

After an uncertain period, the Colombo Stock Exchange (CSE) is back on an upward trajectory, supported by the improving economic climate. The market will see significant reforms in 2018 to strengthen regulation, increase the bourse’s independence and efficiency, and broaden the range of products available. Deep Roots Capital markets in Sri Lanka have a long history, dating back to the foundation…

Overview

Sri Lanka's insurance sector develops as firms capitalise on underpenetrated markets
OBG
plus

A growing economy, changing demographics and investment by major international companies are all contributing to the growth of Sri Lanka’s insurance sector. Alongside this, ongoing regulatory changes to stabilise the sector have catalysed mergers and acquisitions, and further consolidation looks likely. Overall Picture As the sector regulator, the Insurance Regulatory Commission of…

Overview

Sri Lankan state planning to address energy shortages and support econonic development
OBG
plus

Sri Lanka’s energy sector has undergone a significant transformation in recent decades, as growth in the economy and population have eroded the country’s capacity to meet its energy needs via hydropower, strained the national grid and pushed thermal generation to dominate the industry. Although it benefits from an abundant supply of renewable energy (RE), electricity shortages and rising…