Over 80%...

The CCC survey noted that even the primary aim of the departure survey—to collect data which could be used to make strategic decisions—is not being fulfilled properly.

The lobby group said that a revision to the research methodology is required.

“Our research revealed that many countries have now adopted the Tourism Satellite Account (TSA) developed by the World Tourism Organization to calculate contribution from the industry. The next step would be to check the relevance and suitability for Sri Lanka of this method, and adopt it accordingly,” the CCC said.

The Tourism Strategic Plan 2017-2020 appears to have identified this weakness and has called for an overhaul to the government’s research efforts in tourism.

Sri Lanka’s finance companies have total assets worth Rs.1, 239.1 billion accounting for 7.8 percent of the financial system assets.

The sector asset quality has improved as the gross non-performing loan ratio has come down to 4.9 percent from 5.1 percent a year earlier.

The sector enjoys a hefty interest margin of 7.8 percent, albeit down from a year ago, but more than two folds what the banking sector enjoys.

The sector has a return on assets of 3.5 percent, again virtually double the banking sector ROA.