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All Journal ASEAN Journal on Hospitality and Tourism
Lokeshwara, Anuja Akalanka
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Humanities Engineering Social Sciences

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Unraveling the Effects of the Financial Crisis on the Going Concern of Sri Lankan Tourism-Related SMEs: A Qualitative Inquiry Lokeshwara, Anuja Akalanka; Wickramanayaka, Wickramanayakage Demini Avindya; Nilumind, Pradhana Mudiyanselage Disuri Ruwanya; Deepanayake, Kekanadura Vidana Arachchige Pumudu Chamathka; Wijayasundara, Thulani Pulara; Kumarapperuma, Chathurini
ASEAN Journal on Hospitality and Tourism Vol. 22 No. 1 (2024):
Publisher : Centre For Tourism Planning and Development

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5614/ajht.2024.22.1.04

Abstract

This research focuses on assessing the repercussions of the financial crisis on the sustainability of Sri Lankan tourism-related SMEs. Employing purposive sampling, twelve SME owners, each with a minimum of five years of operational history within the years 2018 to 2022, were selected to represent this vital sector. Through in-depth interviews, we investigate how the financial crisis affected the continued operation of these tourism-related SMEs. The findings demonstrate the diverse and profound impacts of the crisis. Many SMEs grappled with rising costs, inadequate working capital, and the looming threat of bankruptcy. Notably, the financial crisis marked a turning point for Sri Lanka's SMEs, triggering a shift in the domestic production landscape due to currency fluctuations and import constraints. The study also delves into the dynamic relationship between financial resources and organizational strategies, revealing configurations that ranged from notably productive to less so. We explore how increased financial resources, amidst macroeconomic restrictions, could influence these dynamics. In summary, this study provides critical insights into the unique challenges faced by tourism-related SMEs in Sri Lanka during the financial crisis. By implementing the recommended strategies, these enterprises can not only navigate the crisis's hurdles but also harness new growth opportunities.
Revitalizing the Sri Lankan Economy: An In-Depth Exploration of Gastro Tourism as a Catalyst for Upliftment – Visitor Perspective Lokeshwara, Anuja Akalanka; Jayarathne, Ruchiranga; Kothalawala, Charuka
ASEAN Journal on Hospitality and Tourism Vol. 22 No. 2 (2024):
Publisher : Centre For Tourism Planning and Development

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5614/ajht.2024.22.2.05

Abstract

This paper explores the transformative potential of Gastro Tourism in Sri Lanka, assessing its ability to attract visitors and stimulate economic growth through the rich tapestry of culinary diversity. This study investigates the personal meanings associated with gastro tourism experiences by utilizing qualitative methods to gather and analyze insights from a diverse cohort of Sri Lankan-bound tourists. The purposive sampling tech2ique ensures a comprehensive understanding, incorporating individuals with extensive knowledge of Sri Lankan food culture and exposure to global gastronomy. The data collection technique involves in-depth interviews, allowing for a nuanced exploration of participants’ perspectives on Sri Lankan cuisine and gastro tourism. To ensure trustworthiness, the study adheres to Tracy’s (2010) criteria, emphasizing credibility, transferability, dependability, and confirmability. Thematic analysis is employed for data analysis, revealing five interconnected themes: Economic Transformation Through Culinary Experiences, Empowerment of Entrepreneurs and Small Businesses, Cultural Diplomacy Driving Economic Integration, Holistic Development, and Sustainable Growth and Rural Economic Upliftment. The thematic analysis underscores the multifaceted impact of gastro tourism on Sri Lanka’s economic resurgence, portraying it as a catalyst for economic vibrancy, entrepreneurship, cultural diplomacy, holistic development, and sustainable practices.
Co-Authors Deepanayake, Kekanadura Vidana Arachchige Pumudu Chamathka Jayarathne, Ruchiranga Kothalawala, Charuka Kumarapperuma, Chathurini Nilumind, Pradhana Mudiyanselage Disuri Ruwanya Wickramanayaka, Wickramanayakage Demini Avindya Wijayasundara, Thulani Pulara