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Developing plans and policies without young people is a futile exercise: UNICEF Sri Lanka

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Series of crises SL has faced have dealt a heavy blow

Reviving presents SL with an opportunity to address its long-running challenges

by Sanath Nanayakkare

Young people are not only the present but also the future; developing plans and policies without them is a futile exercise, they need to be the front and centre of the discussions because they are the ones with fresh ideas and the most at stake, in terms of the sustainability of the planet and the tourism sector, Christian Skoog, Representative, UNICEF Sri Lanka said in Colombo yesterday.

“Here in Sri Lanka, we have a gift. That gift is the 4.4m young people. The contribution young people can make to the tourism sector is immense. But to harness their energy and ideas, there is a need to provide them the skills, training and opportunities to thrive within a dynamic and fast-growing industry,” he said.

“Across the world it is young people who are the hungriest for travel. They are seeking new experiences and looking to broaden their horizons. They serve not only as your potential clientele, they are also your best marketers through tools like social media. Indeed, Sri Lanka has been named one of the world’s most instagramable locations,”

“Rarely has there been such an urgent moment for us to ensure the energy and enthusiasm of young people to contribute to Sri Lanka’s sustainable development is given expression. And rarely has there been such an opportune moment to discuss building back better in the context of sustainable tourism.

Skoog made these points at an event hosted by the Chamber of Tourism and Industry held to mark the World Tourism Day.

Further speaking he said:

“Today we consider how to sustainably revive a sector upon which the livelihoods of so many people depend and we discuss how we can effectively respond to the challenges that confront us. When I learned in late 2020 that I would be appointed to serve as UNICEF Rep in Sri Lanka, I felt invigorated by the prospect of coming. Of course, much of that vigour was related to the work I expected to undertake here. But I confess that part of my excitement came from listening to my friends saying it is “paradise” and “best vacation spot”. Whenever I have had the opportunity to explore Sri Lanka since, I have been captivated by the landscapes, the biodiversity, the food, and the warmth of the people I meet across this island. But of course, I also arrived at a time of profound economic hardship for so many. I know those impacts have been felt deeply across the tourism sector. Many of you have struggled valiantly to keep your businesses running, and to maintain decent livelihoods for workers across the sector: from hoteliers to taxi drivers to souvenir sellers, to tour guides, to wait staff.”

“Sri Lanka’s tourism sector has contended with a succession of adverse events in the past 3 years: 1) The devastating terrorist attacks of Easter 2019 reduced arrivals by 18%. 2) COVID-19 crisis shut borders & paralysed air travel. 3) Conflict in Ukraine entirely cut a tourism market that until recently represented 25% of foreign arrivals. And, of course, economic crisis continues to pose an array of challenges. Reviving tourism in a manner that is sustainable and inclusive is one of the key tools to help us navigate through this crisis.”

“I would like to reiterate the importance of sustainable tourism in Sri Lanka, to touch upon the relationship between sustainable tourism and the SDGs, and mention the role young people can play as we re-think tourism in Sri Lanka.”

“Tourism is a critical component of the economy; it is Sri Lanka’s 3rd-largest source of foreign exchange, and contributed about 5% of GDP, pre-COVID. Tourism is also a major employer of people across the island. In fact, globally, tourism employs one in every ten people.”

“Let’s be under no illusions. The series of crises SL has faced have dealt a heavy blow. But the task we now face in reviving the sector also presents us with an opportunity to address some its long-running challenges.”

“These include over-tourism and other unsustainable practices; contributions to Climate Change; pollution; a loss of biodiversity; and a lack of inclusion. As an island nation with extraordinary biodiversity, Sri Lanka is particularly vulnerable to the adverse effects of unsustainable tourism.”

“Indeed, when tourism arrivals plunged during the pandemic, many destinations took the opportunity to reflect on the toll irresponsible or unsustainable practices had on their ecologies; and they resolved to do this differently. We too, should resolve to do things differently.”

“As tourism returns, the demand for ethical and sustainable products and experiences continues to rise. We can no longer consider sustainable tourism offerings as a choice. Costs incurred in adopting practices that benefit the environment and community, need to be looked at as investments which provide the industry with an advantage.”

“The tourism sector, as a whole, needs to focus on marketing Sri Lanka as not only a desirable destination because of its natural beauty, culture and heritage, but also differentiating it as a sustainable destination.”

“I believe that harnessing tourism’s positive contribution to sustainable development and the mitigation of the sector’s adverse effects calls for strong partnerships and decisive action by all tourism stakeholders.”

“Events like this give us an opportunity to build partnerships: to reflect, and to share ideas and strategies. Creating true partnerships of both public and private sector operators in the country is key to our ability to revive the sector and develop sustainable tourism as a tool for a better future for Sri Lanka.”

“With the right safeguards in place, tourism can provide decent jobs, particularly for young people, it can inspire us to protect life on land and life below water, it can help build resilient, gender-equal, inclusive economies and societies that work for everyone. And it can help Sri Lanka thrive,” the UNICEF representative said.



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SEC Sri Lanka eases Minimum Public Holding Rules for listings via introductions to boost market flexibility

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The Securities and Exchange Commission of Sri Lanka (SEC) has approved amendments to the Colombo Stock Exchange (CSE) Listing Rules to provide greater flexibility regarding the Minimum Public Holding (MPH) requirement for companies listing through the Introduction method.

These revisions were proposed and deliberated under Project 6 – New Listings (Public and Private), one of 12 key strategic initiatives launched by the SEC to strengthen Sri Lanka’s capital market framework. Project 6 aims to drive national capital formation, promote listings by highlighting benefits and opportunities for listed entities, and attract large-scale corporates to enhance market depth, liquidity, and investor confidence.

The amendments reflect a joint effort by the SEC and CSE, underscoring strong collaboration between the regulator and the Exchange to address evolving market needs while maintaining market integrity, transparency, and investor protection.

The salient features of the amendments to the CSE listing Rules are as follows;

Entities seeking listing by way of an Introduction on the Main Board or Diri Savi Board that are unable to meet the MPH requirement at the time of submitting the initial listing application, may now be granted a listing, subject to certain conditions on compliance.

Non-public shareholders who have held their shares for a minimum period of eighteen months prior to the date of the initial listing application may divest up to a maximum 2% of their shares each month during the six months commencing from the date of listing, and simultaneously, be subject to a lock-in requirement of 30% of their respective shareholdings as at the date of listing, until MPH compliance or 18 months from the date of listing, whichever occurs first.

A phased MPH compliance framework has been introduced requiring a minimum 50% compliance with MPH requirement within 12 months and full compliance within 18 months from the date of listing.

Entities should include clear disclosures in the Introductory Document confirming their obligation to meet MPH requirements within the prescribed timelines.

In the event of non-compliance with the MPH requirement, certain enforcement actions have also been introduced.

The revised framework is expected to encourage more companies to consider listing via Introduction, thereby broadening market participation, improving liquidity, and contributing to the overall development of Sri Lanka’s capital market. Issuers, investors, and market intermediaries will benefit from a more enabling yet well-regulated listing environment.

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Manufacturing counters propel share market to positive territory

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Stock market activities were positive yesterday, mainly driven by manufacturing sector counters, especially Sierra Cables, Royal Ceramics and ACL Cables. Further, there was some investor confidence in construction sector counters as well.

Amid those developments both indices moved upwards. The All Share Price Index went up by 150.54 points, while the S and P SL20 rose by 41.5 points. Turnover stood at Rs 4.65 billion with six crossings.

Those crossings were reported in Royal Ceramics which crossed 3.8 million shares to the tune of Rs 174.3 million; its share s traded at Rs 45.20, VallibelOne 1.4 million shares crossed to the tune of Rs 138.6 million; its shares traded at Rs 99, Melstacorp 500,000 shares crossed for Rs 87.24 million; its shares traded at Rs 174.50, Sierra Cables two million shares crossed for Rs 68.2 million, its shares sold at Rs 34.30, Kingsbury 1.5 million shares crossed for Rs 31.8 million; its shares traded at Rs 21.20.

In the retail market companies that mainly contributed to the turnover were; Sierra Cables Rs 418 million (20 million shares traded), Royal Ceramics Rs 363 million (eight million shares traded), Colombo Dockyards Rs 323 million (1.7 million shares traded), ACL Rs 311 million (3.5 million shares traded), Renuka Agri Rs 149 million (12.3 million shares traded), Sampath Bank Rs 94.7 million (648,000 shares traded) and Bogala Graphite Rs 86.4 million (529,000 shares traded). During the day 122.8 million shares volumes changed hands in 34453 transactions.

Yesterday the rupee opened at Rs 310.00/25 to the US dollar in the spot market, weaker from Rs 310.00/310.20 the previous day, dealers said, while bond yields were broadly steady.

By Hiran H Senewiratne

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Atlas ‘Paata Lowak Dinana Hetak’ celebrates emerging artists nationwide

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Atlas, Sri Lanka’s leading learning brand, reaffirmed its purpose of making learning fun and enjoyable through the Atlas All-Island Art Competition 2025, which concluded with a gifting ceremony held recently at Arcade Independence Square under the theme ‘Atlas paata lowak dinana hetak’. Students from Preschool to Grade 11 showcased their talents across five categories, with all island winners receiving cash prizes, certificates, and gift packs. Additionally, merit winners in each category were also recognized. The event brought together students, parents, and educators, highlighting Sri Lanka’s cultural diversity, nurturing young talent, and reinforcing Atlas’s long-standing commitment to education, creativity, and building confidence among schoolchildren. The event concluded with the ‘Atlas Art Carnival’, which brought children and parents together through games and creative art activities in a fun and lively atmosphere.

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