AN ANALYSIS OF THE GROWING NUMBER OF TOURISTS IS A KEY ROLE FOR MAKING INCOME OF SRI LANKA

Abstract

Travel and tourism have benefited the economies of nearly every nation. Tourism is a major industry in many poorer nations, bringing in hard currency and providing much-needed jobs and economic growth. Sri Lanka's tourism business has become increasingly important during the past two decades. In many third-world countries, including Sri Lanka, the tourism industry is the primary source of government revenue. The objective of the research is to examine how the increasing number of tourists arrival arriving is an engine for making Income in Sri Lanka. This research relied solely on quantitative secondary data from established institutions. Information was gathered from the World Travel & Tourism Council (WTTC), the Central Bank of Sri Lanka, and the Sri Lanka Tourism Development Authority (SLTDA) for the years 1985 through 2022. The SPSS, a statistical package for the social sciences, was used to do a linear regression analysis of the collected data. The research findings indicate that the independent variable which is tourists’ arrival has a significant and positive impact on Income which is the dependent variable in this study. The results show that developing tourism allows governments to earn more income. It also includes suggestions for the future of Sri Lanka's tourism industry and policymakers should consider for its development in the country.