Foreign interest in Sri Lanka’s property market has been steadily building momentum. The country’s rising global tourism profile is increasingly attracting international interest in the sector, while expatriate Sri Lankans are already an important part of the investment picture. For Sri Lankan expatriates abroad, owning property in their country of origin is a useful financial investment…
Despite recent setbacks, including the four-month closure of Bandaranaike International Airport (BIA) in 2017 and unusual flooding in the south, Sri Lanka’s tourism sector continues to post sizeable gains. According to the Sri Lanka Tourism Development Authority (SLTDA), total tourist arrivals grew by 3.2% to hit 2.1m in 2017, with 384,628 coming from India, an increase of 7.8% on 2016, 268,952…
While efforts are under way to transform the environment, the start-up ecosystem in Sri Lanka remains underdeveloped. At both a government level and in the private sector, resources are being committed to encourage and support entrepreneurship. These initiatives appear to be paying off, with a significant uptick in activity occurring in recent quarters and a critical mass having been achieved. “There…
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…
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, electricity shortages and rising fuel imports…
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. While the CSE has had its ups and downs since the civil war ended, its overall trajectory has…
This chapter offers a selection of hotels for business and leisure, facts for travelers, and contacts for state agencies, foreign embassies and other important listings.…
This chapter examines Sri Lanka’s legal system, focusing on the updated Inland Revenue Act, the establishment of a new public-private partnership agency, the Foreign Exchange Act and other key areas. It also contains a legal framework viewpoint from John Wilson, Managing Proprietor, John Wilson Partners.…
This chapter examines Sri Lanka’s tax regime, explaining obligations outlined for businesses and individuals, deductions offered for trading of a company’s stocks, and other important information for investors. It also contains a tax viewpoint from Sujeewa Mudalige, CEO, PwC Sri Lanka.…
