Group No- 3
Country- Sri Lanka
Customer Profile of Sri Lanka
Population: Sri Lanka has a diversified population. About 21,803,000 people live in this country.
The largest age group is under 15 years. 25.2% of the total population is under 15 years. Next large
population groups are 15-29 years age group and 30-44 years age group. They consist of 23.2% and
21.6% respectively. Almost 17.5% of the total population belongs to the upper middle age group,
aged 45-59 years and 12.3% is the elder citizens of the country.
Before 1970 the growth rate of the population was above 2.4%. But due to civil war and internal
issues drastically it fell. For the last ten years the population growth rate remains around 0.5%.
Education: Sri Lanka is well ahead in the education sector. It has a relatively well-developed
system of primary and secondary education across the country. More than 85% of the population is
literate here which is one of the highest literacy rates among developing countries. Due to the civil
war from 1983 to 2009 a number of people took shelter in different countries and they completed
their higher education there. As a result a well-educated base created who are now serving their
nation after the civil war.
Language Culture: There are three official languages in Sri Lanka: Sinhala, Tamil, and English.
Sinhala, the language of the majority, and Tamil, spoken by Muslims as well as ethnic Tamils, are the
primary languages of the island.
Secular Celebrations: All Saturdays and Sundays are public holidays, as is the Poya Day of each
month which marks the full moon. Independence Day on 4 February and May Day on 1 May are also
public holidays. In addition, the major Buddhist, Hindu, Muslim, and Christian days are also
reserved as public holidays.
Employment, income statistics and industrialization of Sri Lanka:
As we see Sri Lanka is a small country which covers the Indian Ocean. Sri Lanka is one of the
world's fastest growing economies with an ever-growing private sector. That’s why the
employment rate is not as bad as other developing countries. They have an average of 94.91
percent employment rate from 2004 to 2020. Sri Lanka is a country with a lower-middle income of
3,853 US$ (2019) per capita GDP and an estimated population of 21.8 million people. She has a
free-market economy. The economy is adapting via a predominantly rural-based economy to a
much more urbanized economy focused about manufacturing and services. The economy has
increased by an average 5.3 percent over the 2010-2019 period following the 30 years of civil war
that came to an end in 2009 reflecting a peace dividend and a decisive policy drive for restoration
and development. The social indicators in South Asia rank among the highest in relation to those in
middle-income countries. Sri Lanka has a long history of industrialization other than the most
developing country. However, in contrast to countries with a similar economic situation, it is un-
industrialized. Addition to the influence of Sri Lanka, its well-trained, low-cost labor market’s
industrialization capacity is important. The major industries are textile & clothing, tourism,
telecommunications, information technology services, banking, shipping, petroleum refining,
construction and processing of tea, rubber, coconuts, tobacco and other agricultural commodities.
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Group No- 3
Country- Sri Lanka
Lifestyle: The Sri Lankan dish of excellence is rice and curry and its best eaten with hands. Sri
Lanka is a wonderland of tea. Drinking tea is a daily habit in all Sri Lankan homes. Spice, chili and
curry are a standard in all Sri Lankan dishes. Ginger beer is not exactly a Sri Lankan beverage but
definitely one well ingrained in Sri Lankan culture. On the streets, in the restaurants and on the
beach there is fresh king coconut to sip on. The best way to get around the city is by tuk-tuk which
is more like an auto rickshaw. The Sri Lankan way of life is relaxed and slow. There has not been
much influence from the British in terms of punctuality since its quite normal to be late.
Beliefs: There is push towards using biodegradable products that do not harm the environment
and plenty of citizen-led initiatives aimed at waste management. Animal rights, taking care of the
sick and elderly, and issues of justice and fair play have also gripped the public consciousness.
Food Culture: Sri Lanka's staple meal is a large serving of rice accompanied by up to twelve
different side dishes of vegetables, egg, meat, or fish stewed together with peppers, spices, and
often coconut milk. They like spices in their foods which are more of South Indian. Eating outside of
the home has not been very common, although it is becoming more so.
Social Stratification: Traditionally, caste identity was extensively marked by ritual roles and
occupations, names of individuals and places, networks of social relations, and regulations of dress
and housing. Degrees of difference within the caste hierarchy were also marked by forms of
address, seating arrangements, and other practices of deference and superiority. Today, where
these hierarchical relations continue, there is a degree of uneasiness or even resentment toward
them, particularly among the educated younger generations. Class status, in contrast, is increasingly
manifested in speech, dress, employment, education, and housing. In general, elite classes can be
identified by their command of English, education in exclusive schools, executive-level employment,
possession of valued commodities, and access to international networks, whereas the lower classes
are associated with manual labor, minimal comforts, and a lack of social contacts with the elite.
History: Sri Lanka has a long rich history. Sri Lanka possesses a historical tradition preserved in
written form by Buddhist chroniclers. It is the place from where early settlement of Buddhism took
place. This region was dominated by Indo-Aryan people and left a long heritage here.
From 1505 to 1900 Sri Lanka was dominated and colonized by three European countries. In the
early 16 century Portuguese came there for trade and established their colony there. They stayed
th
there until 1658. Then Dutch traders took control of this land and made their ford in Sri Lanka. In
1796 British took over the control of this island and spade their business from Colombo port. As a
result Sri Lanka had turned into a diversified country.
After British period Sri Lanka went through a tough political time. There was an unrest situation for
a long time. In 1983 civil war took place in Sri Lanka which continued till 2009. The 26 years of civil
war left Sri Lanka well behind compared to other South Asian countries. But they could recover it
and make a developing country with lots of prospects.
Looking at the background of this country and its population it seems that it is a potential place for
operating foreign business. Their education rate, labor skills, earning range, geographical location,
technological advancements and political situation are attractive for foreign companies.
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