News & market updates

Deputy Minister Eranga Weeraratne urged boards and CEOs to set the tone on data privacy and embed protection into digital systems from the start, calling for stronger digital literacy and investment in secure infrastructure as Sri Lanka expands digital services.

Serendib Hotels PLC appointed banking veteran Janakan Selvaratnam as an Independent Director. He has 25 years at Citibank Sri Lanka, consults to Sampath Bank's Board Credit Committee, and serves on the boards of Eden Hotel Lanka and Palm Garden Hotels.

Mastercard is the Title Partner for the Data Privacy and Protection Summit 2026, scheduled for 23 July at Cinnamon Grand Colombo. With PDPA enforcement imminent, the summit will focus on data governance, AI-related risks and compliance issues relevant to hotel operators and other businesses.

Colombo Stock Exchange fell as the ASPI dropped 1.07% (−233.18 pts) to 21,532.38 amid escalating West Asia tensions. Banks led selling with turnover at 1.04 billion rupees; Palm Garden Hotels reported non-compliance with minimum public holding and People's Leasing listed 59,766,864 scrip shares.

A seminar on Beneficial Ownership compliance will be held on 22 July 2026 at The Kingsbury, Colombo to provide guidance on BO filings under the Companies Act No. 12 of 2025 and CBSL Direction 2 of 2026, highlighting the statutory BO filing deadline of 30 September 2026 and non-compliance risks.

FitsAir will launch thrice-weekly direct Ahmedabad–Colombo flights from 19 June 2026 (about 3h40m), partnered with City of Dreams Sri Lanka and Cinnamon Hotels & Resorts, improving access for Gujarat travellers and expected to boost inbound tourism to Colombo.

A seminar on recent mid-year tax reforms will be held on 24 June 2026 at Cinnamon Lakeside, covering increases to CGT, criminalisation of tax offences, new income tax calculations, expanded CGIR powers, digital VAT and lower VAT/SSCL thresholds. It is targeted at hotel management, banking/finance compliance and tax professionals.

Opposition Leader Sajith Premadasa urged deeper Sri Lanka–India economic integration to boost trade and investment, highlighting UPI payment integration and proposed energy connectivity. He encouraged entrepreneurs and investors to pursue expansion and adapt to technological change.

eMarketingEye launched Sri Lanka’s first AI Visibility Study for Hotels, analysing AI visibility for 742 hospitality brands across 18 segments on platforms like ChatGPT, Gemini and Perplexity. The study names segment winners (e.g., Anantara Peace Haven Tangalle) and urges hotels to optimise for AI-driven discovery.

Branding in Sri Lanka is shifting toward people-centered co-creation supported by AI—with nearly 90% of digital content ignored—offering opportunities for firms (e.g., Dialog Axiata) and hotel, tea and consumer brands to use community-driven storytelling and creator networks.

Deputy Minister of Tourism says Sri Lanka must reposition to capture more of India's outbound travel—only about 531,000 of 32.7 million Indians travelling overseas in 2025 visited Sri Lanka. He highlighted AI/digital trends reshaping demand and flagged agriculture, marine and the creative economy as growth areas.

ASPI rose 258.09 points (+1.13%) on 7 Jul as CSE turnover reached ~Rs.5.28 B; Industrial Asphalt jumped 40%, SMB Finance gained (non‑voting +33.33%, voting +25%), while Palm Garden Hotels fell 7.08% and foreign net outflow was Rs.22.32 M.

All companies on the Colombo Stock Exchange Main Board must adopt sustainability reporting under SLFRS S1 and S2 effective 1 January 2026. A seminar on ‘Sustainability Reporting for Corporates’ will be held 26 March 2026 at The Kingsbury to brief directors and senior executives.

NPCI International has expanded UPI merchant acceptance in Sri Lanka, enabling Indian tourists to pay via LankaQR at major outlets including Cinnamon Hotels and Keells Supermarket to simplify cross-border digital payments and boost tourism-related spending.

Entrepreneurs’ Organisation held its Presidents’ Meeting in Colombo (5–8 Feb 2026) with over 300 attendees from 79 chapters, generating hotel bookings and a short-term boost to Colombo’s visitor economy and business tourism.

ACP Asset Management launched the first Sri Lanka-focused UCITS fund, seeded with $10m and expecting a further $25m within 30 days, targeting $100m AUM in 6–12 months. The fund will invest in Sri Lankan equities, sovereign eurobonds and liquid treasury instruments and aims to draw foreign capital into sectors including banking, construction, F&B and tourism.

BOI will host the 'Invest in Sri Lanka' Forum on 30 March 2026 at Cinnamon Life to showcase sustainable, technology-driven and high-value investment opportunities. The forum highlights include a 70% renewable electricity target by 2030 and prospects across hospitality, logistics, manufacturing and digital infrastructure.

Global Biz Connect 2026 will be held in Colombo at Cinnamon Life on 3 March 2026, bringing diplomats, trade bodies, multinationals and investors together to connect Sri Lankan enterprises with international markets. Panels will cover industries including value-added tea, confectionery, hospitality and medical tourism.

SLID held a directors' accountability session on Sri Lanka's PDPA on 30 Jan 2026, warning that stronger enforcement increases regulatory, financial, reputational and personal risks for boards. A repeat session is scheduled for 5 Mar 2026.

The Board of Investment will host the Sri Lanka Investment Forum 2026 on 30 March at Cinnamon Life, Colombo, focusing on green transition and sector-led investments including renewable energy, green finance, services, manufacturing, infrastructure and leisure. The EU, ADB and ESCAP are supporting the event, which includes parallel sector sessions and a closed-door EU–SL investor dialogue.

The ninth Boat & Marine Show Sri Lanka was held 30 Jan–1 Feb 2026 at Port City, Colombo, showcasing marine tourism and boat-building (50 exhibitors, 90 stalls) to promote exports and B2B links with international buyers. The event aimed to boost nautical tourism and attract investment into boat-building and related services.

Cinnamon Hotels CEO Hishan Singhawansa said India’s rapid growth (GDP ~7.2%) and expanding middle class will boost Sri Lankan tourism, forecasting Indian outbound travellers to rise from about 20 million to 50 million in the next 5–6 years.

FACETS Sri Lanka 2026, the 33rd edition of Asia’s premier gem and jewellery exhibition, opened at Cinnamon Life in Colombo, drawing international buyers and highlighting sustainable sourcing. The event occupies two floors and is expected to support hotel bookings and broader tourism activity in Colombo.

Sri Lanka will host the three-day 'One Love' reggae festival in Bentota from 27–29 March 2026 with six international acts including Maxi Priest and Julian and Ky‑Mani Marley, expected to draw thousands and boost the island's leisure and hospitality sector.

Asoka Hettigoda was elected President of The Hotels Association of Sri Lanka and proposed raising the national tourism earnings target to USD 10 billion by 2030. He outlined plans to reach 6 million visitors, boost per-night spending by 30%, invest USD 50m/yr in marketing, and prioritize sustainability and industry unity.

The Sri Lanka–Russia Business Council held its 22nd AGM highlighting export opportunities in tea, rubber, spices and fisheries and renewed focus on promoting tourism with Russia remaining a top inbound market. The Council also flagged plans on trade settlement, SME access, tech transfer, renewables, logistics and education.

Over 25,000 tourists arrived during and after Cyclone Ditwah and Cinnamon Life at City of Dreams received Five-Star certification. Sri Lanka recorded over 2.1 million arrivals in the first 11 months, with November posting the highest monthly arrivals since March 2025.

A Germany-based Sri Lankan executive is promoting investment in Sri Lanka's cruise tourism, seeking to attract 5,000–7,000-passenger liners and link international cruise lines with local hotels. He is engaging SLPA, AHK and BOI and aims to establish operations in Colombo by 2027 pending feasibility studies.

Jetwing Symphony chairman Hiran Cooray said President Dissanayake’s 'Clean Sri Lanka' initiative could become a long-term national tourism brand, enhancing Sri Lanka's global image and appeal for investment and travel. He urged industry and authorities to unite behind the campaign.