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Sri Lanka Eyes India's Boom: "If India Grows, We Grow With It"

The CEO of Cinnamon Hotels states that Sri Lanka's economic prosperity is directly linked to India's rapid growth, calling the current period "India's decade." He highlights India's projected 7.2% GDP growth and its huge market as a major opportunity for its neighbor. With Indian outbound travelers expected to surge from 20 million to 50 million soon, Sri Lankan tourism is poised for significant gains. The expansion of India's middle class with higher disposable incomes is seen as the key driver for this positive regional impact.

Key Points: Sri Lanka to Benefit from India's Economic Growth, Says CEO

  • India's growth boosts Sri Lanka
  • Tourism set for major rise
  • Indian middle class expansion key
  • Low tourist base allows fast growth
2 min read

If India grows, Sri Lanka grows with it, says Cinnamon Hotels CEO

Cinnamon Hotels CEO says Sri Lanka's prosperity is tied to India's booming economy and rising outbound tourism, calling this "India's decade."

"If India grows, Sri Lanka grows with it, and that's the opportunity we want to kind of take advantage of. - Hishan Singhawansa"

New Delhi, February 6

The recent trade agreement between the United States and India serves as a significant catalyst for this growth, creating a ripple effect that benefits neighbouring economies. Hishan Singhawansa, CEO of Cinnamon Hotels & Resorts, toldthat the expansion of the Indian economy directly correlates with the prosperity of Sri Lanka.

"If India grows, Sri Lanka grows with it, and that's the opportunity we want to kind of take advantage of," he said. He described India as a giant neighbour and the fastest-growing economy in the world, noting that its projected GDP growth positions it as a central player in the global market.

Singhawansa emphasised that Sri Lanka aims to take advantage of the opportunities arising from India's ascent. He noted that while Sri Lanka remains a small country in comparison, the scale of the Indian market is huge even amidst complex global geopolitics.

"India is the largest, fastest-growing economy in the world. I think this year's GDP growth is close to 7.2%. India is growing. And even with all the geopolitics around, the Indian market is huge. So we definitely understand the important role that India has to play in the area. And our position, it will positively impact us."

He explained that the current tourism figures for Sri Lanka, which stand at approximately 2 million tourists, remain small compared to global destinations, but the low base allows for consistent year-on-year growth.

The medium-term outlook for the region remains optimistic as the Indian middle class continues to expand. Singhawansa pointed out that tourism is intrinsically linked to this demographic shift, as higher disposable incomes lead to increased travel.

He projected that the current 20 million outbound travellers from India will likely rise to 50 million within the next five to six years. "We call this decade 'India's decade', from a growth point of view, and definitely we will benefit from it," Singhawansa added.

- ANI

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Reader Comments

S
Sarah B
As someone who travels frequently between Chennai and Colombo for work, I've seen this first-hand. The economic interdependence is real. When Indian businesses do well, there are more contracts and opportunities for Sri Lankan partners. It's a win-win.
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Priya S
Absolutely! My family just vacationed in Sri Lanka last month. It's so close, affordable, and the hospitality is wonderful. If more middle-class families like ours start traveling abroad, Sri Lanka will be a top choice. Their tourism sector has huge potential.
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Rohit P
While the sentiment is good, we must ensure this growth is sustainable and equitable. It shouldn't just be about Indian tourists spending money, but also about creating long-term partnerships in tech, education, and infrastructure that benefit Sri Lankan citizens directly.
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Karthik V
The CEO is spot on. India's decade indeed! But with this economic influence comes responsibility. We should be a supportive big brother, not a dominating one. Strengthening SAARC as a whole should be the ultimate goal.
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Nisha Z
50 million outbound travellers in 5-6 years? That's a staggering number. Imagine if even 10% choose Sri Lanka. Their entire tourism industry would be transformed. Hope they are preparing the infrastructure – hotels, flights, guides – for this influx.

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