Impact of COVID-19 on Sri Lanka Economy

The COVID-19 virus has spread over the world, affecteing many economies and societies. The COVID-19 virus originated in china and has now spread to numerous places worldwide. India, China, Africa, Indonesia, Japan, Italy, Germany and the United States have been hit hard by the virus. At that point Sri Lanka suffered a set back economically and socially. Primarily, Sri Lanka’s tourisum industry was severely affected.Also the tourisum industry was hit by the Easter Sunday attack. According to a report released by the word Travel and Tourism council in April 2020, the global tourisum industry is expected to lose hundreds of millions of jobs. Sir Lanka’s GDP declined in 2020 compared to 2019. The garmant, hotels, and small and medium enterprises that strengthen the Sri Lankan economy have come to a complete standstill.The country’s economy has slowed down due to restrictions on local and foreign imports and exports. In order to rebuild the country the economy must be built by gradually restarting the tourism industry. leading to the oppressed strengthening imports and exports.