Revenues of US$100m or more are expected to be generated this year by the Sri Lankan boating industry representing a growth of 3% or more on 2017, according to a Eurasia Review report.
The national strategy for the Sri Lanka boating industry anticipates that by 2020 revenues will grow to US$250m. This has been stated by Gamini B Herath, managing director of the Boat Building Technology Improvement Institute Sri Lanka. He was speaking at a press conference to announce the 2018 Boat Show and Festival due to be held later this year.
Malik Samarawickrama, Sri Lanka’s minister of Development Strategies and International Trade, explained to the press conference that the government is establishing boating facilities in the Koggala and Mirissa areas to further expand activities in the sector.
The sixth edition of the Sri Lanka Boat Show will be held on October 26-28, 2018 at the Galle Yacht Marina of the Port of Galle. This event is being organised by the Boat Building Technology Development Institute and Sri Lanka Export Development Board in association with the Ministry of Development Strategies and International Trade, Ministry of Industry and Commerce and Ministry of Ports and Shipping.
With Sri Lanka’s boating industry and marine tourism set to expand, the show is seen as the ideal opportunity to showcase the country’s capabilities in recreational boating and yachting, nautical tourism, boat building and related services for exports and local markets. Room for some 60 internal stands and 20 exterior slots. Developing previous events, the organisers are hoping to attract exhibitors from such as India, Singapore, Seychelles, the Maldives, South Korea, Belgium, the Middle East, Germany, Netherlands and the UK as well as domestic businesses.
The show organisers hope to use the event to attract the country’s younger generation both to boating and to also get them to consider the sector as a career opportunity. The show will apart from yachts and boats, also focus on water sports, sailing schools and clubs and nautical tourism.