13 Sources that tell you whether you should invest and start a business in Sri Lanka in 2018

13 Sources that tell you whether you should invest and start a business in Sri Lanka in 2018

Are you thinking of investing, and starting a business in Sri Lanka? Are you looking for investment opportunities? Sri Lanka is a beautiful tropical country that is steadily upgrading itself with the people and technologies that help you “move mountains”.

Famous for it’s tea, rubber, scenic landscapes, wildlife, and a shifting “just right” to “too humid” to “cold” climate, Sri Lanka blooms with tourism, entrepreneurship, and amazing business opportunities.

However, the beautiful sunny country that attracts tourists, investors, and international figures, also has quite a dark side that looms and fades with the constantly changing political minefield, and sponsored and unsponsored (sometimes caused by ignorance) racial tensions that give way to terrorism, or weigh heavily upon the economy.

Here we’ve pulled together 13 online sources that will help you gather a greater idea about the country, it’s economy, and it’s strengths and weaknesses, and understand it from several perspectives.

You wish to invest in beautiful Sri Lanka? Here’s where you should start.

NEWS - Typography#13. NewsFirst.lk – News Outlet

With it’s famous slogan “We Report. You Decide.”, NewsFirst.lk is a leading news outlet which has a long standing reputation in the country, with a few blemishes here and there.

NewsFirst.lk holds an Alexa (website rank) ranking for Sri Lanka, of 229.

http://www.newsfirst.lk

#12. DailyMirror.lk – News Outlet

This is also a prominent news outlet, famous in the country, DailyMirror.lk holds an Alexa (website rank) ranking for Sri Lanka, of 115. The lesser, the higher the technical website ranking online is.

http://www.dailymirror.lk

#11. LankaENews.com – News

If you’re accessing this website from Sri Lanka, please do note that the site is banned in the country. News that sometimes may be suppressed by the big brand news outlets, will sometimes find its way out here. But be aware, this site sometimes picks into the nitty gritty irrelevant detail, and churn quite a bit of rhetoric that can cause unrest to communities.

http://www.lankaenews.com

#10. BBC.com – Country Profile

BBC - LogoBBC, the infamous British Broadcasting Corporation has a neat looking profile done up on Sri Lanka. This would definitely be a must read for businesses and investors.

http://www.bbc.com/news/world-south-asia-11999611

#9. Lanka Business Online (LBO) – Business News

lankabusinessonlineAn established and well recognized entity, Lanka Business Online (Pvt) Ltd. was launched in 1998. They are also a “…media & marketing services company…”.

A “pioneer and leader in online business and economics news in Sri Lanka”.

http://www.lankabusinessonline.com/

#8. Youth Business Sri Lanka (YBSL) – Business News

“…is a national organisation which promotes young people to start their own business and transition from being job takers to job makers. YBSL supports young entrepreneurs by delivering training on critical business skills, matching them with business mentor, and providing access to funding.”

http://www.ybsl.lk

#7. BusinessToday.lk – Business News

The Business Today magazine, founded in 1996, features insights into the latest local, and international business prospects, and currently distributes over 6000 copies nation-wide. Some of what they cover include interviews with top figures who impact commercial, corporate, and economic sectors of the country.

#6. ReadMe.lk – Tech News

ReadMe.lk - LogoReadMe.lk has been around since 2012, focused on bringing “…the latest news, insights and unparalleled features into the Sri Lankan TechScape”.

http://www.readme.lk/

#5. Statistics.gov.lk – Statistics

Statistics.gov.lk - OfficialStatistics.gov.lk is the official website of the Department of Census and Statistics Sri Lanka, that provides information on inflation, population, education, health, income & expenditure, poverty, and so on. The DCSSL is focused on providing “…accurate timely statistics, more effectively by means of new technology, and utilising the services of dedicated staff under a strategic leadership…”.

http://www.statistics.gov.lk

 

#4. SLTDA – Sri Lanka Tourism Development Authority – Statistics

Tourism - January 2017The Research and International Relations Division at the SLTDA is responsible for the collection of research and statistics. It carries out continuous and comprehensive market research, carries out studies, identifies gaps, and tabulates that information. Some of the data points would include visitor arrivals, domestic movements, and monitoring of product and service facilities.

The SLTDA’s Research and International Relations Division is responsible for the efficient collection of research and statistics. Moreover, work involves carrying out comprehensive market research continuously, carrying out studies, identifying gaps and tabulating the information for the relevant departments.

The SLTDA also publishes a statistical bulletin monthly, and an Annual Statistical Report, that includes tourist arrivals, employment opportunities, hotel occupancy rates, and so on.

http://sltda.lk/statistics

#3. Sri Lanka Export Development Board – Statistics

Comparison of exports, 1980 and 2016Sri Lanka Export Development Board (www.srilankabusiness.com) provides statistics which shows an overview of the import/export markets, including market growth and market share. This data can be used for market research, and market selection.

Further, SLEDB maintains important data and reports, useful for stakeholders for preparation of position papers, and development plans.

http://www.srilankabusiness.com/exporters/export-statistics.html

#2. World Bank Open Data – Statistics

WorldBankWorld Bank Open Data boasts of “Free and open access to global development data”. Most of the data is obtained from systems of member countries, where the reliability and quality of this data relies upon how best these national systems perform.

The World Bank also works closely with agencies including the likes of the United Nations, the Organisation for Economic Co-Operation and Development (OECD), the International Monetary Fund (IMF), in “assembling, analysing, and disseminating data online and in print.”

The Development Data Group (at the World Bank), coordinates statistical and data work, and maintains a number of macro, financial, and sector databases.

http://data.worldbank.org/country/sri-lanka

#1. DoingBusiness.org – From The World Bank Group – Statistics

doing business in sri lankaDoingBusiness.org provides graphical chart, statistics, by crunching, analysing quantitative, comprehensive data it gathers.

It offers benchmarks, and is a resource for academics, researchers, journalists, and others, “interested in the business climate of each economy.”

Reports cover subjects like the ease of doing business, rankings, and advise to improve performance in each of the indicator areas.

http://www.doingbusiness.org/data/exploreeconomies/sri-lanka

 

And that, is just to get you started.

Would you like to recommend another source? Do share it with us in the comments below!

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