Need for Alternative Avenues of Business Growth
While the new year brought fresh hopes through Covid-19 vaccines, the butterfly effect did of course reach out to the markets across the world. But the drag of the pandemic is still huge. The pandemic ridden yesteryear caused serious disruptions to Sri Lanka's economy, much like the rest of the world. We need to look ahead of us, accepting this reality. A recent MTI Consulting study in partnership with Daily FT, Daily Mirror and Sunday Times reported about the tentative business environment in Sri Lanka.
The study reports that the country's GDP contracted by over five percent in the first nine months of 2020. Agriculture, services, tourism and trade were all directly exposed to the impact of the pandemic, while key segments such as construction, apparel and commodities all saw revenue declines of over 10 percent. In fact, we can't really argue with the findings that while most are confident of economic stability and
The study reports that the country's GDP contracted by over five percent in the first nine months of 2020. Agriculture, services, tourism and trade were all directly exposed to the impact of the pandemic, while key segments such as construction, apparel and commodities all saw revenue declines of over 10 percent. In fact, we can't really argue with the findings that while most are confident of economic stability and
business growth in 2021, many of the business leaders remain wary of key challenges.
But they need to perceive the sudden acceleration of the IT industry during the pandemic as a blessing in disguise. The CEOs need to comprehend the fact that the new norms are here to stay at least in a partial way and they need to recognize permanent solutions to their operational problems triggered by the pandemic. Professional help from IT services organizations is inevitable. IT partners could significantly aid them by finding innovative ways to help businesses such as limiting operational expenses, improving customer experience and catering to the need of the hour digital footprint in every way possible. In this issue, we are unfolding the stories of some of the most promising business leaders in Sri Lanka, who have been quick to adapt to the latest trends & requirements, and hence leading by example.
But they need to perceive the sudden acceleration of the IT industry during the pandemic as a blessing in disguise. The CEOs need to comprehend the fact that the new norms are here to stay at least in a partial way and they need to recognize permanent solutions to their operational problems triggered by the pandemic. Professional help from IT services organizations is inevitable. IT partners could significantly aid them by finding innovative ways to help businesses such as limiting operational expenses, improving customer experience and catering to the need of the hour digital footprint in every way possible. In this issue, we are unfolding the stories of some of the most promising business leaders in Sri Lanka, who have been quick to adapt to the latest trends & requirements, and hence leading by example.