Sri Lanka Tourism, Mastercard sign agreement

Sri Lanka’s Tourism Promotion Bureau (SLTPB) has signed an agreement with Mastercard Worldwide to attract Indian tourists to the island nation. “This agreement will see Mastercard and Sri Lanka tourism exploring implementing activities targeted at Sri Lanka tourism market,” Mastercard Worldwide (South Asia) President T V Sheshadri told reporters here. He said the company will promote Sri Lankan tourism in India through several initiatives. At present, India is Sri Lanka’s largest inbound travel market. Over 1.5 lakh Indians visited Sri Lanka in 2011, which is over 20 per cent of the total arrivals. Sheshadri said there were 12.9 crore Mastercard holders in India. SLTPB Head Rumy Jauffer said they target at least 1 lakh Indian tourists through the partnership with Mastercard. “This alliance underscores our optimism regarding the potential of Sri Lanka’s tourism industry,” Sheshadri said. Tourism development, a key element in the island’s post-conflict growth, is expected to attract 2.5 million arrivals from across the globe by 2016, SLTPB said, adding that Sri Lanka has made concerted efforts to improve the tourist industry infrastructure. Meanwhile, Sri Lanka’s economic growth this year may range between 6.7 per cent and 7.2 per cent depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary P.B. Jayasundera said. The central bank has forecast 7.2 per cent economic growth this year, after revising it down in March from the original 8 per cent. Growth last year was a record 8.3 per cent. “The economy is slowing down not because of global recession or anything. It is because of the drought,” Jayasundera told a Reuters forum in Colombo.