Sri Lanka’s economy received a welcome boost in February 2024, with both foreign remittances and tourism earnings experiencing significant growth.

Foreign remittances rose by a substantial 16% compared to February 2023, reaching US$476.2 million. This increase in income from Sri Lankans working abroad provides a vital injection of foreign currency into the nation’s economy.

The tourism sector also witnessed a remarkable surge, with earnings skyrocketing by a staggering 113.92% year-on-year. This jump to US$345.7 million in February 2024 signifies a strong recovery for the industry, which was heavily impacted by the pandemic.pen_spark