We would like to give below an update on Sri Lanka as of 17.08.2022 –
- What has the new Government done so far? The New President and his cabinet have been proactive in the last week to bring economic stability to the country. They are holding discussions with many countries for Economic assistance. They are also holding final talks with the IMF to secure the stimulus package. Furthermore, the state of emergency law that was applicable until 27.08.22, will be discontinued. We hope the discontinuation of the law will encourage current travel advisories to be softened. (France has already softened the advisory)
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What about protests and violence? All protests have stopped over the last two weeks. The main protest ground at Galle Face has been cleared. No major violence has been reported since 09th July 2022.
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Status on the fuel shortage? Shipment with fuel stock has arrived in the country in the last few weeks and distribution has taken place. Furthermore, the government introduced a fuel quota system with a unique QR code for each vehicle number plate. This has drastically reduced the queues, over usage, and black market selling. It has helped everyone receive fuel for their day-to-day activities.
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How about power cuts? Power cuts were reduced to only 01 hours a day since the last 4 days but have been increased to 03 hours from today temporarily as repair work is been done at one of the main power plants. There are no power cuts at most hotels, restaurants, or touristic sites as generators are used during the power cuts times.
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How about day-to-day life in Sri Lanka? All schools have reopened since this week and many offices are back to full-time work as the public transport system (buses, trains, taxi’s) is functioning. There are no food shortages in the country and essential items are available.
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Is there growth in the economy? Yes. The stock market has been growing for the last 12 days, showing strong investor confidence. Also, the export sector has seen growth in the last months. Foreign worker remittance has also seen a drastic increase.
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What about tourism? With the above positive improvements, the tourism sector is confident of a quick recovery. All tourist vehicles receive priority for fuel and therefore we do not face any difficulty conducting tours. All hotels, restaurants, and sites are functioning as normal. With no protests or violence reported in the last two weeks, the country is back to normalcy and peace. Tourist arrivals for July grew by 45% VS June. Projections for August also look positive. Detroves Travels have many clients on the ground at the moment with zero inconveniences.
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What’s next for Sri Lanka? If the economy continues its slow but steady growth, if the fuel crisis gets resolved permanently and if peace is maintained, we feel a recovery at a steady pace will happen in Sri Lanka in the next few months.
For any further clarifications, please feel free to get in touch with us