Nautical Tourism, the tourism industrysegment that combines sailing and boating activities with vacation,is rapidly gaining popularity.
The government, BOI and various other institutions are focused on promoting Sri Lanka as an attractive FDI destination, including export-oriented activities.
Total export of ships, boats and floating structures amounted to US$ 65million in 2016. The highest contribution in exports is derived from “Vessels for the transport of goods and passengers” which reflects an annual average value of about 78% of the total export value.
Sri Lanka, given its ancient history, has well developed, efficient and strategically located ports and harboursaround the country, some of which are natural harbours.
The boat and shipbuilding sector is identified as a focused sector in the National Export Strategy (NES) 2018-2020. This sector is a leading industry and an emerging export sector offering a wide variety of products and services to international markets.
Sri Lanka’s economy needs to transform itself to ensure that the nation’s aspirations to reach higher middle income status by the year 2020 are met and achieved. This transformation can take place by introducing innovative and radical changes to Sri Lanka’s current economic development model. Sri Lanka’s economic growth, which is dependent on exports, requires continued structural changes aimed at greater diversification, innovation, productivity increases
Boat & Ship building is a leading industry which is driving Sri Lanka towards greater industrialization. It contributes a significant share in the basket of exports and continues to grow, with a wide variety of products and services being offered to the international markets. The impetus for this industry has been received from the dynamic and burgeoning Ship repair industry which dates back to the early nineteen hundreds.
The expanding tourism industry in Sri Lanka, particularly in the North and the East require pleasure and sail boats as well as boats for sea excursions for whale watching, leisure fishing, snorkeling and scuba diving. Also, the interest of the local community in boating activities will create additional market opportunities not only for the existing entrepreneurs of boating industry but also for the new comers to invest in the industry to take the full advantage of this emerging trend.Read More
The Boating Industry has now transformed from traditional boat manufacturing into a high class boat manufacturing industry. In recent years foreign companies have invested in production of yachts, speed boats as well as kayaks, rowing boats used in water sports for the export market.