SLTDA inks MoU with Palladium Group to beef up research capabilities

Sri Lanka Tourism Development Authority (SLTDA) has entered into an Memorandum of Understanding (MoU) with Palladium Group SL (Pvt.) Ltd to bolster its research capabilities.

At the initial stage, the tie-up is expected to broaden and develop the research framework for the industry in line with the Tourism Strategic Plan 2017-2020 and Tourism Vision 2025.
Palladium Group SL is the local entity managing the affairs of Market Development Facility (MDF) in Sri Lanka, on behalf of the
Australian government.

“The research areas to be explored for an evidence-based decision-making process are vast, given the umbrella of stakeholders involved in this industry. In the absence of data and information to back decisions, tourism organisations must gamble on the accuracy of their decisions to allocate resources today to maintain/achieve competitive advantage for their organisations tomorrow. In this context, it is critical that real-time data, as well as global/regional projections are available to the SLTDA as well as the industry at large in order to make informed decisions,” SLTDA Chairman Johanne Jayaratne said.

With 2.3 million arrivals in 2018, tourism is a growing sector in Sri Lanka with a contribution of five percent to the GDP. It is the third-highest foreign exchange earner for the country after workers’ remittance and textiles and garments.