Economic Crisis and Its Impact on the International Agricultural Trade And Tourism in Sri Lanka

• Published in: Journal of Global and Area Studies , 8(2) pp. 175 - 192
• Main Author: Godamullalage Achini Shashikala
• Format: Journal Article
• Language: English
• Published: 글로벌지역학연구소 30.06.2024
• Subjects: 지역학
• ISSN: 2586-0305; 2586-3797
• DOI: 10.31720/JGA.8.2.9

Sri Lanka is a low-income nation that is dependent on foreign remittance. Tourism, labor remittances, and commodity exports are the major sources of foreign income. In the 1970s, Sri Lanka experienced development success; currently, however, it faces the worst economic disasters due to the COVID-19 pandemic, the Easter bombings in 2019, low government revenues, tax cuts, national policies to switch to organic or biological farming, climate changes, and the Russia–Ukraine War. These factors influenced the decrease the international agricultural trade and tourism in Sri Lankan. This study examines the economic crisis in Sri Lanka and its major causes and potential impact on the international agricultural trade and tourism of the country. The study uses secondary data derived from various government institutions and concludes that the majority of educated people in Sri Lanka migrate to other countries for better opportunities. This brain drain, coupled with the scarcity of workforce, further exacerbated the challenges faced by the economy in the country, particularly in sectors reliant on skilled labor. KCI Citation Count: 0