Indrajit Coomaraswamy, governor of Sri Lanka's central bank, said 'it's far too early' to quantify any economic impact from the attacks.
As Sri Lanka reels from the aftermath of the deadly bombings on Easter Sunday, economists have started to assess the potential economic damage from the attacks — with some already downgraded the country's growth for 2019.
The attacks which killed 253 people — revised downward from an earlier announced death toll of 359 — affected confidence and sentiment in Sri Lanka, the central bank governor said. But the overall impact on economic growth depends on how quickly the government can restore normalcy in the country, he added.
Tourism's total contribution — including spillover impact to sectors such as food and beverage — to Sri Lanka's GDP was around 11%, according to estimates by the World Travel and Tourism Council. "Arrivals to the Indonesian island of Bali dropped by 40% after terrorist attacks in October 2002 and didn't return to pre-attack levels for two years. The bombing of a Russian aircraft on Egypt's Sinai Peninsula in November 2015 had an even worse impact. Arrivals plunged by 50% and took three years to recover," Leather wrote in Tuesday note.
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