Reason of economic downfall

In Sri Lanka tourism, which is the country’s third-largest foreign exchange earner, came to a virtual halt after the 2019 Easter Sunday suicide bombings which killed more than 250 people. Tourist arrivals dropped by as much as 70%. Tourist arrivals from Jan-March 2020 was 507,311 in comparison to 2.3 million in 2018 and 1.9 million in 2019. Another drawback in Sri Lanka Policy is complicated registration process. Sri Lanka Tourism Development Authority (SLTDA) was established with core functions of product and related infrastructure development of tourism businesses, regulation, facilitation, and promoting Sri Lanka as a tourist destination. However, for 50 years, only 4,237 businesses have been registered due to complicated procedures, accessibility issues and various malpractices And then the pandemic struck, dealing a severe blow to the tourism industry. And remittances from foreign workers, which is the nation’s biggest source of dollars, slumped 22.7% to $5.5 billion in 2021. According to the World Travel and Tourism Council, more than 2 lakh people have lost their jobs in the travel and tourism sectors since the beginning of the pandemic.

The earning from tourism in Year 2018 is 44 thousand crore in Indian Rupees which slides to 2 thousand crore in Year 2021. In 2018, around 450,000 Indian tourists visited Sri Lanka. Sri Lanka, has developed the Ramayana circuit to woo Indian tourists by identifying several places connected with the ancient Indian epic. Covid is the major reason for recession and the midsize economic country should make its own policy to survive not to depend on the world health organization. Today the sri lanka follow covid guideline as explained by WHO but WHO came to rescue the economic downfall ?Take an example of Taiwan. They did not follow the WHO covid guideline and they never faced any economic crises.