Sri Lanka’s first ever professional management accreditation for its surging tourism and hospitality sector has been unveiled in Colombo.

Inaugurating the Certified Hospitality Finance and Management Accountant (CHFMA) qualification by Institute of Certified Management Accountants (CMA) under Ministry of Industry and Commerce last week, Minister of Industry and Commerce Rishad Bathiudeen said that as a result of the new certification, the hospitality industry will have competent professionals.

“The Hospitality Industry in Sri Lanka is the third biggest foreign exchange earner, and a growing sector. It is expected that the tourist arrivals to the country would exceed 3.5 Million by 2020. The direct employment in the hospitality industry is expected to exceed 250,000 by then” said Bathiudeen, and added. “CMA Sri Lanka under the purview of my Ministry has introduced this specialized Finance and Management Accounting programme, for the Hospitality Industry, in collaboration with Sri Lanka Institute of Tourism and Hotel Management. The initiative by these two institutes to meet the growing demand for qualified and competent professionals in the finance and management accounting field for the hospitality industry is commendable. This Programme will also benefit those at the senior management levels, to understand finance and cost management for decision making and growth of the organization.”