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Overview

New retail projects in the pipeline in Sri Lanka
OBG
plus

The retail sector in Sri Lanka is set for rapid development. Shopping is becoming increasingly convenient as modern outlets become more numerous, new malls are being built and an increasing number of global brands are arriving in the country. Meanwhile, the growing tourism industry is bringing not only money but also the culture of shopping. Most of all, local consumers are becoming more sophisticated…

Overview

Sri Lanka adopts strategies to maintain industry and real estate competitiveness
OBG
plus

Industry in Sri Lanka has developed over the years by taking the high road. In part driven by necessity, the country has tended to avoid low-margin, high-volume production in favour of value addition and customisation. The result has been solid demand for its goods and a strong international reputation. Meanwhile, investment in infrastructure has improved the operating environment, reforms…

Overview

National strategies increase private investment in the Sri Lankan transport and logistics sector
OBG
plus

Having a strategic location along one of the world’s busiest maritime trade routes, Sri Lanka is well positioned to capitalise on rising Indian Ocean trade volumes. Under the auspices of the economic development strategy Vision 2025, released in September 2017, authorities are moving to transform the country into a leading global trans-shipment and logistics hub. Sri Lanka benefits from…

Overview

Positive developments for Sri Lanka's agriculture sector despite unfavourable weather
OBG
plus

With a land area of more than 65,000 sq km, Sri Lanka’s agriculture sector is characterised by small-scale farming and a tropical climate that is highly variable. Agricultural output comprises rice, fruit, vegetables and livestock primarily for domestic consumption, and export-focused products such as tea, rubber and coconuts. Around 55% of land is used for agriculture. Traditionally the…

Overview

Sri Lanka's changing demographics drive real estate demand
OBG
plus

Consistent income growth, urbanisation, the expansion of both domestic and foreign businesses, and the burgeoning appeal of property as an asset class among local investors have all contributed to the dynamism of Sri Lanka’s real estate sector. Developers have responded to this rising demand by investing in a substantial expansion of supply. The real estate sector’s contribution to GDP…

Overview

Large construction projects in Sri Lanka move forward despite rising input costs
OBG
plus

Renewed growth in Sri Lanka’s construction industry is being supported by a combination of mega-projects with international partners, strong domestic demand and public investments in infrastructure. Following a slowdown in 2015, the sector is once again enjoying double-digit growth, possessing a strong order book with international investors increasingly present. Still, costs are high and…

Overview

Tourism industry to become a key contributor to economic growth in Sri Lanka
OBG
plus

As Sri Lanka’s second-largest industry after textiles and garments, tourism represents an opportunity to generate revenue and create jobs. The country is fast becoming a popular destination for international travellers, as well as for expatriates returning home to visit friends and family, suggesting that Sri Lanka is in the process of moving from the margins of global tourism to becoming…

Overview

Increased connectivity and international collaboration drive ICT development in Sri Lanka
OBG
plus

Sri Lanka was the first country in South Asia to roll out a nationwide 4G network, its mobile market is highly competitive and it is home to a number of major tech companies. Connectivity is improving quickly, the environment for innovation is undergoing a positive transformation and the government is starting to make significant investments in e-governance (see analysis). While Sri Lanka may…

Overview

Private health care providers fill infrastructure gaps as demand rises in Sri Lanka
OBG
plus

Free and universal coverage has been a feature of Sri Lanka’s health care since the country gained independence from the UK in 1948. Given this, Sri Lanka compares well to neighbouring South Asian countries in a number of health indicators, and infectious diseases including malaria and rabies have either been eradicated or severely minimised in recent years. However, a change in lifestyle…

Overview

Efforts under way in Sri Lanka to expand access and enhance quality in education
OBG
plus

In a concerted effort to boost the country’s overall economy, development of the education sector has become a government priority. In recent years it has initiated plans to increase the capacity of institutions, improve the standards of teaching and embrace the technology revolution that is happening globally. The country has also achieved almost universal elementary school attendance, youth…