Archive for October, 2013

Sri Lanka’s tourism earnings up 43.4 percent

Colombo, Sri Lanka – Strong tourist and remittance earnings have bolstered Sri Lanka’s foreign inflows, the Central Bank said here Wednesday.

The Central Bank said in its latest report that earnings on account of workers’ remittances rose by 16.3 percent, year-on-year, to $570 million in August 2013 from $490.1 million in August 2012, Xinhua reported.

For the first eight months of 2013, cumulative inflows from workers’ remittances stood at $4.3 billion, a growth of 10.9 percent compared to the corresponding period of 2012.

“Earnings from tourism increased by 43.4 percent year-on-year, to $98.7 million in September 2013. Cumulative earnings from tourism during the first nine months of 2013 recorded a growth of 24.2 percent to $883.1 million from $711.1 million during the corresponding period in 2012,” the report noted.

Cumulative net foreign inflows to the government securities market amounted to $484.9 million at the end of September 2013, while the outstanding foreign holdings of treasury bills and bonds remained at $3.6 billion.

Foreign direct investment (FDI) inflows amounted to $540.2 million during the first half of 2013, an increase of 20 percent, compared to the first half of 2012.

Furthermore, inflows to commercial banks during the first eight months of the year amounted to $664 million.

Sri Lanka‘s gross official reserves amounted to $6.3 billion by end August 2013 while total international reserves, including foreign reserves of commercial banks, stood at $7.5 billion, the Central Bank added.

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Best in Travel 2013 – Top 10 countries

1. Sri Lanka

Cut-price paradise back on the map

Best for: Culture, off the beaten track, value for money

Statue of Hindu deity at Koneswaram Hindu temple, Fort Frederick.

Battered tragically by the 2004 Boxing Day tsunami and wracked by civil war from 1983 to 2009, many areas of the country have remained off limits to even the most intrepid traveller. Now the bitter conflict is over, investment is fuelling the tourism industry, and visitor numbers are steadily increasing. Prices are affordable, and with low-cost flights from the convenient travel hub of Bangkok, Sri Lanka is emerging as one of the planet’s best-value destinations.

2. Montenegro

Emerging superstar with wild beauty

Best for: Activities, adventure, off the beaten track

Old church on rocky mountain above town of Kotor.

Nature has been prolific and creative in Montenegro, producing such iconic draws as the bewitching Bay of Kotor and the buzzy beaches along its Riviera. But be sure to pack a pair of hiking boots along with your swimsuit, for Montenegro’s beauty is no less intense in the wild and rugged interior. A new – and steadily growing – network of hiking and biking trails and improved infrastructure is making this glorious quilt of nature ever more accessible, while creating new employment for locals.

3. South Korea

Geared up for the Great Outdoors

Best for: Activities, events, off the beaten track

People trekking on Mt Halla.

Without fanfare, South Korea has quietly developed into an outdoor recreation destination with untapped potential in golfing, hiking and fishing. Though not quite undiscovered, few people outside the country know about it. That anonymity will likely fade away in 2013 as it bursts onto the world stage hosting a series of major sporting events.

4. Ecuador

Reborn railways open up rainforest

Best for: Food, off the beaten track, activities

Domes of Catedral de la Inmaculada Concepcion on Parque Calderon.

Ecuador‘s railway network is scheduled to radically revamp in 2013 with new lines linking increasingly cosmopolitan Quito and the coastal port of Guayaquil. Tracks will also connect Ecuador’s famed 5900m-high volcano Cotopaxi and the Nariz del Diablo (Devil’s Nose), claiming the steepest (and most hair-raising) stretch of railway in the western world. Developers believe the gamble will pay off and pull in unprecedented tourist numbers.

5. Slovakia

Makeover for cultured corner of Europe

Best for: Culture, adventure, off the beaten track

Town of Nizne Ruzbachy by river.

Two decades on from the Velvet Revolution, Slovakia has galvanised to form one of the continent’s fastest-growing economies, joined the EU and ranks right up there in Google searches for bargain ski packages and stag weekends. Now the tourism industry is keen to distance the nation from being all cheap pistes and piss-ups. The image overhaul has been overdue but it’s here, and in time for the inevitable party in 2013.

6. Solomon Islands

South Pacific as it used to be

Best for: Adventure, off the beaten track, activities

Children playing.

Forget what travelling the Pacific used to be like – around the Solomon Islands it’s still that way. Forget mass-market or luxury retreats; think engaging eco-resorts, village homestays and some of the best scuba diving anywhere. In the past limited flights, difficult internal transport, a lack of infrastructure, a civil war and some particularly exotic strains of malaria all put travellers off. Today travel is much easier, the civil strife is off the radar and lately even the mosquitoes aren’t so threatening.

7. Iceland

Strange land inspires devotion

Best for: Activities, off the beaten track, value for money

Hikers on the Thosmork-Landmannalaugar trail near Landmannalaugar.

Ask any tourist during your trip to Iceland and you’ll quickly see that everyone develops an unconditional love for the little island nation, whether it’s for the mind-bending scenery, the platefuls of delicious lamb and fish dishes, or the sincere local hospitality. The currency crash – which effectively devalued the króna by 75% – also helped make a trip much more favourable to the wallet. As the global economy starts to heal, prices are climbing once more. The spoils of Iceland are no longer a secret, but they’re still yours for the taking – and in 2013 you’ll still be well ahead of the curve.

8. Turkey

Step off the beaten path

Best for: Off the beaten path, culture, food

Aphrodisias Tetrapylon.

New low-cost airlines are opening up the southeast of Turkey, and excellent bus services make getting around easy. Explore the historic old towns of Mardin and Midyat, feast on fantastic food in Gaziantep and see the recently uncovered ruins of Göbekli Tepe near Sanliurfa. Experience the Turkish section of the recently inaugurated Abraham’s Path walking trail, where accommodation is in simple Kurdish homestays, a long way from the tourist buzz of the coast or Istanbul’s Old Town.

9. Dominican Republic

The Caribbean’s ‘Next Big Thing’

Best for: Activities, value for money, events

Fishing boats on beach.

In the first quarter of 2012 the Dominican Republic saw an 8.4% increase in tourism. With more airlines offering stops to the country’s eight international airports, as well as cruise ships adding the DR as a major port of call, more people are escaping to the land of sun, sand, and surf comparable to anywhere else in the Caribbean.

10. Madagascar

Noah’s Ark rides out the storm

Best for: Activities, adventure, off the beaten track

Guitar player with homemade guitar.

After years of political instability and uncertainty, which has hampered tourism development, Madagascar might finally be the verge of recovery. Presidential elections are scheduled for 2013, which could herald a move towards greater democracy (although they have been repeatedly postponed). For visitors, the time to go is now, before the country reappears in travel agents’ windows. Be prepared to be overwhelmed: in both fauna and landscapes, the world’s fourth-biggest island is otherworldly. To those seeking a place out of the ordinary, Madagascar cannot fail to delight.

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Visit Sri Lanka