Sri Lanka

Sri Lanka is an island nation located in the Indian Ocean and is a lower middle-income country with a GDP of 88.42 billion USD in 2018. The agricultural sector of Sri Lanka accounts for 7.8% of GDP. The main agricultural and fisheries products of Sri Lanka include rice, sugarcane, spices, grains, and fish. As Sri Lanka’s agricultural sector has been hit by a persistent drought over the last several years, there is a strong need for collaboration in the area of climate change mitigation and adaptation. Sri Lanka also has an industrial sector that is responsible for 30.5% of GDP, which includes mining and construction as well as a manufacturing industry that produces goods such as rubber, clothing, processed food, and cement. The largest component of Sri Lanka’s economy is the service sector, which is responsible for generating 61.7% of GDP and includes industries such as information and communication technologies, financial services, and shipping. As well, the service sector of Sri Lanka supports a tourism industry that in 2019 saw 1,913,702 visitor arrivals and contributed 4.3% to GDP. As the Government of Sri Lanka, in partnership with UNDP, recently launched the National Sustainable Tourism Certification Scheme for tourism-related businesses, there are opportunities to help grow Sri Lanka’s dynamic tourism sector through sustainable development practices.

Sri Lanka also supports a rapidly expanding startup ecosystem that includes support for growing businesses, such as accelerators, incubators, impact investment networks, and government programs. Startups in Sri Lanka currently occupy a wide array of industries that include hospitality services, health services, and information and communication technology. Additionally, startups in Sri Lanka are engaged in the sustainable development of coastal and marine resources through the creation of a circular economy, which provides further points for potential collaboration in Sri Lanka’s diverse and growing startup community.