Tourism, construction will be top forex earning industries of future Sri Lanka, country’s no 1 condominium developer – Blue Ocean Group of Companies iterated recently, venturing into the burgeoning travel and leisure industry by opening its travel arm – ‘Blue Ocean Travels’, last week at No 379, 1st Floor, Galle Road, Wellawatte.
“Currently, tourism industry is the third highest foreign exchange earner for the Sri Lankan economy earning an impressive US$ 3.4 billion in 2016. The mere 400,000 arrivals in 2009, increased five-fold to reach 2,050,832 tourists, up 14% from 1,798,380 a year earlier. We laud the Government’s ambitious target of reaching 2.5 million arrivals during 2017, along with a goal of tapping foreign exchange earnings of nearly US$ four billion and further strengthening its commitment to attract 4.5 million arrivals by 2020,” noted Blue Ocean Group Chairman S. Thumilan.
“We also commend authorities for recognizing not only tourism as a high income generating, thrust industry but also the construction sector in which the Blue Ocean Group plays pivotal role attracting much-needed foreign exchange into the economy. As a diversified Group we wish to reiterate our commitment to make condominiums on one hand a lucrative investment to all our buyers and on the other hand a higher foreign exchange-earning segment in the future,” he added.
Blue Ocean Group has the distinction of being the largest apartment developer in Sri Lanka with over 1,400 condominium units committed or completed, to its credit.
According to Thumilan, government’s recent policy move to issue temporary resident visas for foreigners who invest US$ 300,000 or more, which would be implemented in due course; would encourage more foreign investors to invest in Sri Lanka.
“Not only foreign investors but even Sri Lankan expats are highly enthusiastic in investing back in the country of their birth. In fact this spurt of investors who in turn wanted travel solutions for their visits to and from Sri Lanka, created this opportune moment for Blue Ocean Group to venture into the travel industry,” he added.