Major Business in Sri Lanka

SERVICE SECTOR 

Knowledge Services  

The Knowledge Services sector which encompasses IT software development, Knowledge Process Outsourcing / Business Process Outsourcing industry, IT and IT enabled services and IT Training Centers, has tremendous potential to emerge as a key growth sector in Sri Lanka. Given the quality of students, level of English and literacy, and the proximity to India, Sri Lanka is in an ideal position to develop into a high value added IT / KPO services provider. The Industry has set the target of Export revenues of US$ 1 Bn and Employment of 100,000 by 2016 and well on the way to achieving them.  

IT Software Development 

There are over 100 software development operations in Sri Lanka which caters to both independent and captive markets. Sri Lankan companies have been able to develop software products of their own which have earned them international recognition.  

Leading software companies  

KPO / BPO Industry  

The KPO / BPO industry is an emerging sector in Sri Lanka. A still nascent industry, within its short history since 2000, KPO / BPO sector has come a considerable distance while being able to attract some of the BPO / KPO giants in the world. Sri Lanka is growing in reputation for niche areas of Financial and other Professional Services, Transaction processing and Document management, and call centre services thanks to high literacy rates (approximately 92%) and growing accounting graduates pool.  

  
Leading KPO/BPO companies  

  •  HSBC Data Processing Lanka (Pvt.) Ltd
  • WNS Global Services (Pvt.) Ltd
  • R R Donnelly Outsource (Pvt) Ltd
  • Copal A, mba (Pvt.) Ltd
  • Hellocorp (Pvt.) Ltd

IT Enabled Services  

IT enabled and IT related services sector identify projects which require extensive use of information technology for the provision of services such as Server farms, Business Services etc. current there are close to 30 companies operating under the Board of Investment of Sri Lanka.  
Leading IT companies:  

 IT Training Centers    

In an effort to develop Sri Lanka to a Knowledge Services the education industry has been identified as one of the key areas of interest to the government of Sri Lanka. In order to ensure a consistent work force flow to meet the growing employee requirement of the knowledge services industry, IT Training has been identified individually and has been given priority. There are around 20 IT Training Centres under the BOI.  
Leading IT Training Centers:  

Tourism and Leisure Industry 

The tourism sector has been experiencing an impressive growth both in terms of foreign tourist arrivals and in foreign currencies revenues after the restoration of peace and normalcy in the country in 2009. Foreign tourist arrivals reached a record of 830,051 arrivals in the first six months of 2015 which was an increase of 14 percent compared to the same period in 2014. 2 million foreign tourists are expected to visit Sri Lanka at the end of 2015.  
The Board of Investment (BOI), the agency tasked with attracting Foreign Direct Investments (FDI) to Sri Lanka, has been playing a pivotal role in executing this strategy, by attracting top tier tourism and hotel investors to the country. Companies that have already committed major investments include the premier Asian luxury hotel chains. Furthermore, international brands such as the Sheraton brand of Starwood Hotels and Resorts, Marriott International, Hyatt Hotels Corporation, Movenpick Hotels & Resorts Management and Onyx Hospitality Group have signed management agreements with local hotel companies.

Leading hotel companies, travel agents and investors in Sri Lanka 

Foreign Investors:

  • Shangri-La Group - Hong Kong/Singapore
  • The Minor Group - Thailand
  • Ramada USA
  • RIU Hotels & Resorts - Spain
  • Aman Resorts - Singapore
  • Banyan Tree group - Singapore

Telecommunication Sector    

The country has developed its telecommunications industry to a level that is second to none among developing nations. As a result of the pertinent regulatory initiatives, the local telecommunications sector has taken pride in being the prime figure to introduce some of the most latest global telecommunications technologies in the South Asian Region. Sri Lanka has facilitated some of the most advanced technologies in the world such as GSM, 3G, 3.5G and HSPA (High Speed Packet Access) which allows high speed mobile broadband. Sri Lanka is also the first country to introduce Next Generation Networks such as 4G, which would enable the use of WIMAX (Worldwide Interoperability for Microwave Access) and LTE (Long Term Evolution).  

Leading Private telecommunication providers: