Tourism’s foreign ownership share up

Tourism has become the largest segment to have foreign ownership share in Sri Lanka with 3.3% of foreign ownership and another 3.1% as joint ventures with Sri Lanka.

This segment has now overtaken the industrial sector which was at 2.9 % at the end of 2017.

According to the Department of Census and Statics latest report the highest number of employment was in the industry sector. Among the occupation group in 2017, the highest number of employment was recorded in “service and sale workers category”. The largest number of labour demand was reported from services sector followed by industry sector.

The relevant estimates are 177,813 and 175,250 respectively. The highest proportion (91.2%) of permanent employees is reported from the occupation group, “plant machine operators and assemblers”. This is followed by managers (89.1%) category. The majority of employees recruited on casual basis belong to elementary occupations (24.3%). Further the table reveals that average highest wage salary is paid for the category of managers (Rs 49,737) and least paid category is elementary occupations (Rs 19,654)

Majority of employees of the age group 25 to 45 years. The proportion of managers less than 25 years was very low compared to other groups. Comparatively larger percentages of employees of age 60 years and over are recorded in manager and elementary occupations groups. It also showed that around 44 percent of firms mentioned the lack of job specific required skills or competencies as reasons of showing poor preparedness by employees with only secondary school educational background and which is the highest percentage. First job seekers coming from university or other higher education institutions have been reported having poor attitude- personality or lack of motivation by 17.1 % of firms.

The largest number of labour demand was reported from the services sector followed by industry sector. The relevant estimates are 177,813 and 175,250 respectively. According to the report more than one third of the firms mentioned that the ability of team working is needed for the employees, who were not performing up to the standard.

The next highly important skills highlighted by the management of the firms, which have to be improved among the poorly performing employees were oral communication and taking initiatives. Meanwhile it was reported that the Western province has the highest number of labour demand and the Eastern province has the lowest.