Singapore exports its tourism model to Sri Lanka

Singaporean company on Wednesday signed a deal to develop a 3 billion U.S. dollars tourism zone in Sri Lanka, according to a statement released by the Board of Investment (BOI).

The investment arm of Sri Lanka’s government, the BOI, signed an agreement with Singapore based Asian Resorts & Casinos, a tourism project developer to build the proposed world class tourism zone in Katana, a town north of the capital. The project will be known as Katana City.

The airport is expected to be connected to the Katana City by a Monorail which will also be built by the developers, the statement added. The zone will consist of hotels, attractions, retail, parks and extensive entertainment with suitable operating permits, tax benefits and transport connectivity. “Katana City will deliver an exciting tourism offering for high volume arrivals, and the result will be a major step up in job creation,” BOI Chief M M C Ferdinando was quoted as saying in the statement.

Mr. Ferdinando predicts 10,000 jobs to be created out of this venture. Since the end of a three-decade war in 2009, Sri Lanka’s tourism industry is booming with the government targeting one million arrivals in 2012.

Sourced: traveldailynews