According to a recent World Bank report, South Asia will retain its striking rise towards global economic leadership well into 2016. The projected growth rate is expected to increase from 7% in 2015 to 7.4% during the period 2016. At the epicentre of this economic revolution is Sri Lanka, steadily consolidating its place in the world’s fastest growing economic region.

Speaking at the recently concluded ‘Sri Lanka Economic Forum 2016’, Prime Minister Ranil Wickramsinghe stressed the need for Sri Lanka to realise its full potential moving forward. The premier praised the economic progress of Sri Lanka as the GDP growth rate moves up to 5.8% in 2015.
The Sri Lankan government is holding well on its promise to transform Sri Lanka into a cultural and educational hub. Multiple investment projects across varied industries, an increase in tourism and calls for wage hikes in both the public and private sector have positioned Sri Lanka for a prosperous 2016. In addition, the current budget allocation for education has been stepped up by 30% which is paving the way for increased educational opportunities, investments from foreign educators and the development of urban and rural educational institutions. Sri Lanka was the first country in Asia that offered its citizens free education and continues to do so.

Sri Lanka is committed to the goal of leaving behind ‘low income’ status and reaching the next milestone on the development scale. It was the first country in Asia that embraced the open economy model and has since prospered. Government sponsored development schemes aim to make it the ‘most competitive nation’ in the Indian Ocean and to develop the island into a regional ‘mega city’ comparable to the likes of Dubai and Singapore in the not too distant future. Part of this will include an increase in already developed trade routes and bilateral relations with many of the large economic powers of the region, particularly India.

As today’s youth embraces 2016 and its endless possibilities all over the world, Sri Lanka is proud to be a part of a growing global revolution in Asia to connect the young with the surplus of knowledge and opportunity that exists all around us. The time is right to plan for what we can achieve tomorrow, not only as a nation, or even a region, but as one civilization. Sri Lanka will see many developmental milestones reached this year and show no sign of slowing down.
This economic growth will pave the way for new horizons in the higher education market and will open doors to huge potential. The Transnational Education (TNE) market in Sri Lanka continues to grow significantly and has attracted many foreign institutions in light of these economic developments. The Economic growth will also enable more parents and students to begin considering foreign study options, all of which is a green light for the UK education sector.
The British Council believes that this is an ideal opportunity for UK institutions to explore the Sri Lankan market. The annual Education UK Exhibition in Colombo attracts nearly 900 -1000 students who are interested in studying for a UK qualification. This year we have also included one-to-one counselling sessions with students free of charge for participating UK institutions along with an array of other benefits. Register here for the exhibition - https://education-services.britishcouncil.org/exhibition/education-uk-sr...

For more information on the educational landscape in Sri Lanka or on UK educational opportunities in Sri Lanka please contact Chamath Peiris – Manager International Higher Education & Education Services – Sri Lanka – Chamath.Peiris@britishcouncil.org and cc to siemsouthasia@britishcouncil.org

Original Article Source - http://www.dailymirror.lk/102205/sl-to-be-made-a-global-mega-city-pm

Access the full World Bank Report here - http://www.worldbank.org/content/dam/Worldbank/document/SAR/saef-final.pdf