3/11/2011 The BizTech Journal: All Roads Lead to…

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THE BIZTECH JOURNAL

P UB L I S HED B Y NUW A N P ER ER A W I T H C O M M ENT S O N T EC HNO L O G Y, C O R P O R A T E S T R A T EG Y &
FI NA NCE

M O ND A Y, J A NUA R Y 1 7, 20 1 1 T W I T T ER FEED

All Roads Lead to Sri Lanka !

Sri Lanka Join the conversation

has been
getting
positiv e CA T EG O R I ES
press A380
cov erage
Airbus
in the
Av iation
recent past
Boeing
ov er many
aspects of BPO
its Category
econo my . Prospects in the Tourism Industry and IT and BPO Econo my
Industry hav e receiv ed wide publicity together with ov erall FutureCareers
econo mic prospects. Such cov erage helps to attract more IT
inv estors to the country and helps to rev iv e tourism industry Programming
whic h has a v ast untapped potential. Singapore Airlines
SLA SSCOM
Sri Lanka
Ov erall Econom y
Tourism

A recent article appeared in the Wall Street Journal inquired if

inv estors hav e already missed the boat in Sri Lanka, although the
B L O G A R C HI V E
post war economic boom just started. The artic le was referring to
the speed at which financ ial markets hav e dev eloped since the war ▼ 201 1 (3)

ended in May 2009. The A rticle further states that the market ► February (1 )
implied sov ereign debt rating for Sri Lanka stands at Ba1 ( ▼ January (2)
Moody 's) , while Moody 's official rating stands three no tches SLASSCOM Future Careers
below Ba1 . Inv estors widely ex pect an upward rev ision of Sri Documentary
Lanka's rating. A complete chart of ratings awarded by major
A ll Roads Lead to Sri Lanka !
rating agenc ies can be found here .
► 2008 (6)
Further confirming the trend the Colombo Sto ck Ex change (CSE)
► 2007 (3)
biztechjournal.com/…/all-roads-lead-to-… 1/4
3/11/2011 The BizTech Journal: All Roads Lead to…
ended the y ear 201 0 with an A ll Share Pric e Index growth of 96 %
► 2006 (8)
Y oY . Howev er it should be noted that the market capitalization of
► 2004 (1 )
the CSE reflects only 40% of the GDP of Sri Lanka as of no w.

IT / BPO Industry

Most recently top IT Research firm Gartner Inc . included Sri

Lanka in its Top 9 IT Offshore Serv ic e Destinations in the Asia
Pacific region. This positions Sri Lanka among the world's top 30
Offshore IT Serv ice prov iders as well.

New Y ork Times carried an article highlighting Sri Lanka's

potential as an outsourcing center for financial serv ic es with
particular emphasis on A ccounting function. The artic le also
positiv ely commented on Colombo's suitability as a business
trav el destination. It stated that " Many international executives
also quietly admit that Colombo’s colonial architecture, excellent
seafood restaurants and proximity to miles of sandy beaches
make it a more alluring business travel destination than India’s
outsourcing centers. "

T ourism Industry

Tourism industry has been a major beneficiary of the post war

rev iv al of Sri Lanka. Tourist arriv als hav e been steadily increasing
towards record numbers where for the y ear 201 0 tourist arriv als
stood at 65447 6 - up by 46.1 % Y oY .

Tourism industry receiv ed a major boost in 201 0 as New Y ork

Times pic ked Sri Lanka as the number 1 place to v isit in 201 0
among 31 destinations. A mong other destinations featured in the
same artic le were Seoul, Copenhagen, Los Angeles, Las V egas,
Kuala Lumpur.

National Geographic channel put Sri Lanka in the number 2

position in world’s 20 best islands . Following is a recorded
segment of the NatGeo program on Sri Lanka.

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3/11/2011 The BizTech Journal: All Roads Lead to…

Other Indices

A part from the abov e Sri Lanka was ranked high by the World
Economic Forum in its Global Gender Gap Report 201 0. In the
report Sri Lanka was ranked in the 1 6th position ahead of the USA ,
Canada and the Netherlands. Sri Lankans was ranked in the 8th
position in league with the dev eloped countries in the World
Giv ing Index 201 0 dev eloped by the Charities Aid Foundation.
The index measures the charitable behav iors of people in
countries.

P O S T ED B Y NUW A N P ER ER A A T M O NDA Y, J A NUA R Y 17, 2011

C A T EG O R I ES : B P O , ECO NO M Y, I T , S R I LA NK A , T O UR I S M

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