ccording to CNN, Sri Lanka has become one of the fastest growing economies of the world following their 26-year civil war ending in May 2009.

http://www.hotels-invest.com/hotel-srilanka.htm
ccording to CNN, Sri Lanka has become one of the fastest growing economies of the world following their 26-year civil war ending in May 2009.
The Sri Lanka has become a tourist attraction due to the attractiveness of its famous beaches, ancient heritage sites, as well as resorts located within its mountainous regions, boding well for resort for sale Sri Lanka. In 2010, The New York Times placed Sri Lanka at number 1 out of 31 places to go to. Sri Lanka's national newspaper since 1918 The Daily News recently reported in March that the Department of Economics of Colombo University has called for applications in its diploma course in Tourism, Economics, and Hotel Management. The initiative is to prepare the human resources of Sri Lanka's tourism industry to attract 2.5 million tourists by 2016. However the hotel room supply needs to be more than doubled to meet these tourism targets according to HVS India.

Tourism grew 39.8 % in 2010 compared to 2009 due to political and economic stability. The country declared 2011 as Go to Sri Lanka as it co-hosted the Cricket World Cup between February and April 2011. According to the Sri Lanka Tourism Development Authority 85,874 tourists arrived during January 2012 compared to 74,197 in January 2011 leading to a 15.7 % increase. In February 2012 the tourist arrivals were 83,549 compared to 65,797 during the same time period one year before ending up with a 27 % increase. The total tourist arrivals reached 855,975 in 2011. Popular destinations include Bentota, Colombo, Galle, Kandy and Sigiriya which offer their beaches, gambling establishments, shopping, and heritage destinations.

Hotel Shortages

Sri Lanka has become a hit with the Middle East and Arab countries. According to HVS the Sri Lankan hotel industry needs an additional 41,000 rooms to meet the 2.5 million target set for 2016. The Sri Lanka Tourism Development Authority (SLTDA) indicates the county has only 13 registered 5-star hotels, 10 registered 4-star hotels, 11 registered 3-star hotels, 59 registered below 3-star hotels, and a little over 100 unregistered hotels. The unregistered and non-graded hotels are guest houses, bungalows, youth hostels, and plantations which were converted into hotels with cheaper rates and less luxurious. Most tourists would feel comfortable with registered and graded hotels which would be more accountable to their tourists.

Registered hotels accounted for 20,609 rooms in 2010. In 2011 the Ministry of Economic Development announced plans to double the hotel room capacity to 45,000 by 2016. Current capacity is 22,745 rooms according to the Lanka Gazette during the first quarter of 2012. Expect the hotel construction and remodelling industry to grow as Sri Lanka reaches their targets of 2.5 million tourists by 2016. In 2011 855,975 tourist arrivals were recorded compared to 654,476 in 2010. Currently Sri Lanka is expected to exceed 1 million tourists by the end of 2012.