China overtakes Japan as Sri Lanka’s top tourist market in East Asia

Apr 30, 2013 (LBO) – China has overtaken Japan as Sri Lanka’s top tourist market in East Asia generating more tourists from around September 2012, official data show.

Economic ties with China have been growing in recent years and there are also some Chinese expatriates working in projects in the island. Tourist promotions targeting China has increased.

Arrivals from India, Sri Lanka’s largest generating market fell to 1.8 percent to 11,139 in February 2012, after growing by an anemic 2.9 percent to 171,374 last year.

India became Sri Lanka’s largest generating market after visa restrictions were lifted in the middle of the last decade. Visas were re-imposed last year. The Indian currency also weakened last year.

China has become a key source of tourists to East Asia over the last few years as well as South Asian nations like the Maldives.

The country has seen increases in real wages and prosperity as it ended currency depreciation as an interventionist growth strategy.

The Yuan has appreciated about 30 percent against the US dollar from 2005 partly due to pressure from US Mercantilists who mistakenly believe that trade deficits can be