Importance of Sri Lanka's eco-tourism industry and its new business opportunities

1. Introduction

The attitudinal change that has taken place in today's world towards the environment and its security is different from what it was a few decades ago. With the advent of the industrial age, society changed, focusing only on making money and not realizing the devastation or future consequences of the environment, but in the face of recent natural disasters around the world, society has focused on protecting the environment. There is strong opposition within society to all large and small businesses that make money by destroying the environment, and almost all of those businesses or products have been rejected. In such a conceptual change, many companies around the world have to be able to manufacture their products and services in an eco-friendly manner. This eco-friendly concept is widely accepted in every industry today. The tourism industry can be described as an industry that uses this eco-friendly concept extensively. Most people who spend most of their lives in a busy artificial environment are tempted to spend time quietly with nature in a local or foreign area as soon as they have a vacation. That is why there is a growing need in the world for an eco-friendly tourism system that marks only a footprint instead of a carbon footprint. Based on this concept of environmental protection, the eco-tourism system is launched in the tourism industry. Ecotourism can also be described as a sector that has made great strides in the tourism industry in a short period of time.

1.1 Background of the Study
1.1.1 Eco-Tourism Concept

According to The World Tourism Organization, ecotourism provides the opportunity for tourists to observe and appreciate nature based on their interests, as well as to explore the traditional cultures of the natural world. (WTO, 5 June 2020). As defined by the Board of Directors of the United States-based International eco-tourism association (TIES) in 1991, Eco-Tourism is “Responsible to travel environmentally friendly natural areas maintaining the well-being of indigenous people.” (Weller, 2020). This definition shows how eco-tourism is different from other forms of travel. Many people have turned their attention to environmental protection in order to stop the environmental destruction that has become a problem in modern human society. The ecotourism industry is also being created as an environmental protection program. This was introduced to the world protecting forests and animals instead of wildlife hunting, stopping the release of harmful wastes such as polythene into the environment, and encouraging the use importance of Sri Lanka's eco-tourism industry and its new business opportunities biodegradable waste, conversion of cor
al and sea areas into tourist zones and conservation, encouraging eco-friendly modes of transport to replace harmful emissions such as CO2. Due to these responsible activities and the minimization of environmental damage, eco-tourism has become very popular among tourists.

                             Graph 1. Growth in the field of eco-tourism (Source: Statista 2020)

The eco-tourism industry always provides an opportunity to further develop the tourist's understanding of natural and cultural values. Ecotourism is one of the best factors in ensuring the economic and social sustainability of a country and contributes to the well-being and conservation of the natural areas and local communities in which they operate. Ecotourism is not about nature tourism or cultural tourism. It is another sub-sector of the tourism sector. The ecotourism industry has always been built on environmental and sociological factors. The definition of eco-tourism mentions three related principles. They are as follows: (Nicole, 2015)

1. Visiting natural and cultural areas.

2. Conservation of the environment.

3. Ensuring the social security of the local people.

Ecotourism is a new trend that has developed in recent times, focusing on the development of a country's tourist destination. Although eco-tourism was introduced in 1950, it has shown rapid growth since 2010. The World Tourism Organization points out the following positive benefits to a country from eco-tourism.

1. Contributing to the conservation of a country's biodiversity.

2. Contributing to maintain the welfare of the local people.

3. Providing learning opportunities.

4. Taking responsible action on tourists and the tourism industry.

5. Contributing for the growth of small businesses.

6. Finding opportunities to use non-renewable resources.

                         Figure 01 - ECO Tourism as a Market Segment (Source: Strasdas, 2001)

The above chart shows the market share representing ecotourism business acquired in the tourism market. Although eco-tourism is a subdivision of nature tourism, it is directly linked to cultural tourism and rural tourism. The primary aspirations of the ecotourism business are nature and cultural observation and exploration. As the country develops its eco-tourism industry, it helps to develop cultural tourism and rural tourism industry automatically. Eco-tourism is an important factor for a country's environmental and economic development. This industry preserves the natural environment of a country as well as the rural economy. (Lindberg, 2001)

1.1.2 Background to the Problem

Ecotourism is the fastest growing industry in the world today and is the latest trending industry in the world economy. Based on the concepts of environmental protection, conservation, and the prevention of releasing harmful substances such as carbon into the environment, the ecotourism industry is becoming more and more powerful in the Asian region as well as in many countries of the world. But the eco-tourism industry in Sri Lanka, one of the strongest tourism service providers in the Asian region, does not seem to be growing. Losing the positive results of such an industry that gives productive social and economic benefits to a country is not conducive to the survival of Sri Lanka's future tourism industry. Despite the ease with which eco-tourism can be built in-country, the tourism industry in Sri Lanka today is collapsing drastically through the activation of the tourism industry by adopting outdated traditional methods. Analyzing the tourists and their behavior in Sri Lanka over the past decade, it appears that most of them have come to Sri Lanka for nature and culture-based vacations, but Sri Lanka does not seem to have identified their needs.

The “Annual Statistics Report-2019” published by the Environmental Tourism Authority in 2020, which includes data on the tourism industry in 2019, clearly states that one of the major weaknesses or major factors contributing to the collapse of Sri Lanka's tourism industry is the misunderstanding of the reasons why tourists come to Sri Lanka and their tastes. Considering the data for the year 2019, 1.9 million tourists have visited Sri Lanka (Yamei, 2020), 83.1% intended to travel to Sri Lanka for leisure vacations, while the other minority accounted for 10.5% for business, 3.7% for visiting relatives or friends, 0.7% for sports, 0.6% for health travel and 0.3% for educational tours. This shows that the main purpose of tourists visiting Sri Lanka is to spend a comfortable holiday.(Research and International Relations Division, 2020)

Although Sri Lanka is recognized in the world as a tourist destination suitable for leisure vacations, the inability of tourists to experience the diversity of the tourism industry in Sri Lanka is a major weakness of the Sri Lankan tourism industry. The main reason for this is the tendency in Sri Lanka to focus solely on providing accommodation. At a time when other countries in the world are experimenting with new concepts in the tourism industry, it is really a problem that Sri Lanka is only providing accommodation. The inefficiency of the Sri Lankan tourism industry is evident in the fact that eco-tourism, adventure tourism, and rural tourism, which are currently being implemented in every country in the world, are not yet operational in Sri Lanka. Analysis of data on new business registrations related to the tourism industry over the past few years shows that only the accommodation sector in Sri Lanka is growing rapidly. The closest example of this is in 2019 alone, 2620 new accommodation facilities have been registered with the Tourism Development Authority (Research and International Relations Division, 2020).

Instead of experimenting with new concepts in the Sri Lankan tourism industry, the only reason the accommodation sector is active is the lack of knowledge about the tourism industry and its modern needs in the Sri Lankan community. The main reason for the low level of tourist activities in Sri Lanka is the poor view of entrepreneurship in the country. Tourists are not satisfied with their trip just by providing accommodation. Sri Lanka's tourism-related business growth is low compared to other countries in the Asian region. According to entrepreneurship data from the world's strongest travel destination published by Global Entrepreneurship Monitor (GEM), Entrepreneurship accounts for 27.5% of Thailand's adult population (between the ages of 18-64), 19.6% of Vietnam's adult population, and 16.5% of Brazil's adult entrepreneurs, Most of the businesses are related to the tourism industry. But entrepreneurs in Sri Lanka are only 2.8% out of the total population (Jeeshan, 2017 ). Therefore, in order to reap the true productivity of the tourism industry, the concept of providing only accommodation should be abandoned and it is necessary to introduce new concepts in the tourism industry that provide economic and social benefits to the country. It should create a better understanding among the people of Sri Lanka for the development of low-cost tourism sub-industries and competitive new business concepts in Sri Lanka. Sri Lanka desperately needs the concept of eco-tourism not only because it is the strongest tourism concept in the world of the future, but also Sri Lanka is already unknowingly generating revenue from eco-tourism sources.

In 2019, the revenue earned from the tourism industry in Sri Lanka was 3592 million. The importance of developing the ecotourism industry in Sri Lanka is illustrated by focusing on these revenue-generating sectors. 30% of total revenue in 2019 will come from the country's wildlife parks, botanical gardens, and zoos. According to Wolfgang Strasdas, the cultural tourism industry (as shown in Figure 01) is also linked to the eco-tourism industry. Therefore, in 2019, 64% of the total revenue of the tourism industry will come from the eco-tourism industry. Therefore, further ignoring the importance of eco-tourism in Sri Lanka and its economic benefits is likely to plunge Sri Lanka's tourism industry into a dark abyss in the future.

1.1.3 Research Problem

Even the richest and poorest countries in the world today understand the economic and social significance of eco-tourism, a sub-industry of the tourism industry, and work to increase their countries' gross domestic economy by implementing that concept. But even today, Sri Lanka's lack of a proper understanding of the economic and social significance of the ecotourism industry is a piece of evidence to the future decline of Sri Lanka's tourism. At the same time, the country has missed out on business opportunities that could be started in this industry using human and natural resources. Due to this, unlike other developing countries in the world, Sri Lanka has not been able to strengthen the country's economy and reduce the unemployment rate through eco-tourism.

1.1.3.1 Research Questions

• Why eco-tourism is an important industry for a country like Sri Lanka?
• What are the currently unrecognized natural, social and industrial significant resources in Sri Lanka that can be used to create new business opportunities in Sri Lanka's ecotourism industry?
• How does the emergence of new entrepreneurs in the eco-tourism industry contribute to reducing the unemployment rate in Sri Lanka?
• What are the political, social, and financial issues that directly affect the decline of entrepreneurs in the eco-tourism industry with new ideas in Sri Lanka?

1.1.3.2 Research Objectives

The main objective of this study is to understand the importance of developing ecotourism in Sri Lanka and to identify innovative business opportunities in Sri Lanka's ecotourism industry that can challenge ecotourism service providers in the Asian region and around the world.

Specific objectives

• Presenting a comprehensive analysis of the fears of entrepreneurs about starting new businesses in the ecotourism industry.
• Analysis of the positive contribution of eco-tourism to rural economic growth and reduce unemployment in Sri Lanka.

1.2 Significance of the study

Ecotourism is one of the fastest-growing industries in the world. However, Sri Lanka's eco-tourism sector is still underdeveloped and is not expected to be a strong topic in the country. This research analyzes the economic and social benefits of developing eco-tourism in Sri Lanka. It is important to understand the benefits of attracting tourists to the country by implementing the concept of eco-tourism by making the most of Sri Lanka's biodiversity. It is important to explore the hidden business opportunities in Sri Lanka for the benefit of young entrepreneurs and the Sri Lankan tourism industry as society does not have much knowledge about the implementation of eco-tourism in Sri Lanka. It will give entrepreneurs a clear picture of how they can create new business concepts. There are 3 benefits of this study. The first provides an understanding of the economic and social significance of the eco-tourism industry and the second provides useful information on new business opportunities and concepts for entrepreneurs. Thirdly, it provides information on the social, economic, and political problems faced by new entrepreneurs in Sri Lanka. Therefore, by studying this research report, we can gain a comprehensive understanding of how new business opportunities created by the proper management of human and natural resources can be used to promote the economic growth of the rural community in the country and to reduce unemployment.

2. Literature Review

2.1 The use of tourism in the world for economic growth and employment.

The word tourism gives meaning to tours with a human action engaging with people around the world. People started traveling in ancient times, starting from village to village, to cities and towns and later to other countries with an intention of achieving a goal. This can be divided into different categories. Trading, health-based, leisure, Eco friendly and visiting tours, etc. later when tourism became an industry where people started earning and it became a source of income in the world market, benefiting people around the world. When the belongings of our ancestors became famous and this made people visit and learn the knowledge and techniques they used in times they cherished. Before in early years travel started with the search of main important needs in life. They are food, water, and safety. In order to fulfill their needs of hunger, thirst, and protection people started traveling from place to place. When people learned the knowledge of tourism, they found a way to attract people to visit our country as well as locals. So, the term hospitality came inactive where people treated themselves and trade began by serving the customers with facilities and made them happy with offers they provide. Hotels, villas, and many other places were built to continue their service in hospitality. Step by step people started traveling with different purposes, such as for medicine, education, leisure, business, and many more for not more than one consecutive year as a concept in tourism. Tourism then later formed in three categories as domestic, inbound, and outbound. Domestic tourism involved residents traveling to another place within their own country. This continued with the interest of traveling to visit other beautiful places for leisure and to discover the beauty of their motherland. Inbound tourism involved people visiting a country who are not residents of the country they visit. Outbound tourism involved people traveling to another country to stay in places outside their country.

By the beginning of the 20th century, the tourism industry was prevalent in every country and city around the world. Due to the wealth of the people, the display of social status and curiosity, and the advancement in the field of transport, the tourism industry became a rapidly developing sector. In recent times, the tourism industry has become a major investment strategy for a country. Every country in the world invests in the tourism industry and adds huge returns to its GDP.

The above chart is a good example of the success of the tourism industry. These data, presented by the World Tourism Organization in 2019, can be used to analyze the growth of international tourist arrivals by region. The world tourism industry, which was at an average level by the 50s, is developing rapidly due to the development of the transport sector and the growing needs of society. By 2018, international tourist arrivals will exceed 1.4 billion worldwide. This is a significant increase in the tourism sector compared to the world population of 7.7 billion in 2018. Tourism is a major source of income for a country. The contribution of the tourism industry to the GDP of many countries is very high. Worldwide, the tourism industry contributed a trillion $ 8.9 GDP in 2019. Equal to 10.3% of total global GDP (Neufeld, 2020).

According to data published by the World Tourism Organization for the year 2019, the United States is the largest earner of its GDP in the tourism industry. Also considering China as the second-largest revenue earner in tourism 2019, the tourism industry has doubled China's economic growth over the past decade (Neufeld, 2020). An accurate analysis of data released by the World Tourism Organization for the year 2019 concludes that even if a country correctly promotes tourism and invests the country's resources properly in the tourism industry, it can earn a large return from tourism.

Tourism can be defined as an industry that contributes directly to a country's gross domestic product as well as the elimination of unemployment in a country. The tourism industry can also be pointed out as an industry where a large number of entrepreneurs are emerging. About 10% of the world's jobs are created by tourism, which means that 1 out of every 10 jobs in the world is devoted to tourism. Globally, 109 million people in the world are directly involved in tourism employment, while another 180 million are indirectly employed in tourism (World Travel & Tourism Council, 2017). Analyzing the data on tourism employment published by the World Tourism Organization in 2019, it is understood that most of the developed countries in the world are using tourism to create employment while eliminating unemployment in their country.

China has the largest number of jobs in the world tourism industry in 2019. China's tourism industry has created 29 million jobs, by 2019, followed by India's 27.5 million and Germany's 3 million, respectively. Thus, it is understood that the tourism industry contributes a lot to job creation in a country. Considering all the above examples, we can conclude that when a country is developing its tourism industry and highly promoting it, the direct and indirect results of it are positively affecting the economy of a country, job creation, and increase in workforce and a large amount of foreign trade and capital investment in a country inches rapidly.

2.2 Eco-Tourism Industry in Sri Lanka

Sri Lanka is a truly beautiful country. An attractive nature, as well as a favorable climate due to its proximity to the equator, further enhances its value. Sri Lanka is an island in the Indian Ocean covering an area of 65,610 square kilometers which is world-famous since ancient times. It is known as a tourist destination due to its rich biodiversity, lush beaches, nature, cultural civilization, and World Heritage sites. Due to this beauty, tourism was a successful industry in Sri Lanka some time ago, but today it has become one of Sri Lanka's collapsing industries due to economical, legal, political, and social weaknesses. Sri Lanka's current TTCI rating underscores the decline of Sri Lanka's tourism industry. The tourism industry has a valuable place in the Asian region. According to the 2019 TTCI Rankings, 11 out of 48 countries in the Asian region are in the top 50 countries with the best tourism industry. Sri Lanka is ranked 77th in the TTCI rankings. It is truly unfortunate that Sri Lanka is a country with a high level of natural beauty and biodiversity, has not been able to enter the top 50 countries with the best tourism industry. Annex D indicates the original TTCI rating for reference (Page). According to the TTCI classification published by the International Tourism Organization in 2019, Sri Lanka is below the level of refinement in the Asia Pacific region and below the level expected by the World Tourism Organization's Tourism Competitiveness.

Today, Sri Lanka's tourism industry is in a deep slump. The main weaknesses that have contributed to the collapse of Sri Lanka's mass tourism industry are the neglected eco-friendly tourism products and the nature-related travel packages which have a higher demand in the world market. The best example of this is the high level of decline that Sri Lanka's ecotourism industry has experienced today. In a YouTube interview on Sri Lanka's ecotourism entrepreneur, Charitha Abeyratne, CEO of Sarai Village, one of the country's leading ecotourism service providers, said Sri Lanka's ecotourism should be promoted as a different ecotourism destination than it is now. She further stated that in order for Sri Lanka to be more successful in the tourism industry, our way of life and its abundant sustainable ethics must be presented externally and in a simple way (Abeyratne, 2017). According to the data released by the Sri Lanka Tourism Development Authority in 2019, eco-tourism in Sri Lanka is still an unsuccessful industry. Commenting on the failure of Sri Lanka's ecotourism industry, Dr. Palitha Gurusinghe, President of the Sri Lanka Ecotourism Foundation, says that at present, the Sri Lankan tourism industry goes after 'volume' rather than 'value'; they are only interested in ‘headcount’. In the process, projects and programs related to sustainable tourism and ecotourism have been completely forgotten by the authorities (Gurusinghe, 2018).

According to Dr. Palitha Gurusingh, there are several factors that have contributed to the failure of the eco-tourism industry in Sri Lanka. Ecotourism development and promotion plans have been completely removed from the current tourism strategy in Sri Lanka. Also, Sri Lankan tourism officials have failed to take steps to legislate such policies through a proper legal process to safeguard the ecotourism industry for 14 years from 2003. Due to these reasons, the development of the country's eco-tourism industry was hampered. Although the Government of Sri Lanka and the Ministry of Tourism have identified sustainable tourism as an essential part of Sri Lanka's tourism development, no practical action has been taken to promote the eco-tourism industry. No strategic plan has been formulated to develop the country's eco-tourism industry. The main reason for the weak growth of the ecotourism industry is that a large number of tourism consumers are dissatisfied and faces problems due to the non-initiation of businesses that identifies the needs and trends associated with the ecotourism industry and the businesses with “Greenwashing Ecotourism Practices” that do not have an existing vision. As a result, many tourists are tempted to reject eco-tourism in Sri Lanka (Gurusinghe, 2018).

A study of the biodiversity of Sri Lanka shows that Sri Lanka has a wide range of biodiversity including 240,000 plant species, 3368 species of flowers, 40 species of mangroves, 84, 512 species of mammals, and 250 species of freshwater fish. Sri Lanka is one of the countries with the best climate in the world. In addition, Sri Lanka has 4000 irrigation tanks, 406 waterfalls, 103 rivers, and 7 World Heritage Sites. Despite the existence of such biodiversity in Sri Lanka, it does not appear that these are being utilized for the eco-tourism industry. The best example of this is the income earned through the national parks of Sri Lanka and the number of tourists who visited.

Most of the world's ecotourism industry operates in national parks where biodiversity is high. However, there are 15 wildlife parks in Sri Lanka but only 5 of them bring in foreign exchange to the GDP. The country is losing more foreign exchange due to the misuse of the other 10 parks. Conservation forests can be pointed out as another opportunity for the country to lose foreign exchange due to the weak eco-tourism industry in Sri Lanka. Although there are instances where Sri Lanka's eco-tourism industry is based on conservation forests, the number of foreign tourists visiting the conservation forests has been very low due to the lack of a proper system to attract tourists.

The table given below shows the number of tourists who visited the areas where the eco-tourism industry in Sri Lanka is said to be active, Of the 1.9 million visitors to Sri Lanka in 2019, very few have visited eco-tourism zones with few visiting the beautiful biodiversity areas of Sri Lanka such as the Sinharaja Conservation Forest, Ritigala, Kumana, and Pigeon Island.

2.3 Reasons for the collapse of the eco-tourism industry in Sri Lanka.

Many researchers have pointed out the need for eco-friendly and sustainable tourism industry in Sri Lanka. Also, the growth of eco-tourism is essential for the survival of the tourism industry. According to researchers, there are several factors contributing to the decline of Sri Lanka's ecotourism industry. One of the major issues affecting the inability to target the eco-tourism market in Sri Lanka is the misunderstanding of the eco-tourism concept by Sri Lankan eco-tourism service providers. By focusing only on nature-based tourism, Historical place, and wildlife tourism, many of the requirements of an eco-tourism are missed and many tourists are dissatisfied (Arachchi, 2015). The second leading cause of the collapse of Sri Lanka's ecotourism industry is the fact that

travel agents, destination managers, and tour guides in Sri Lanka only take tourists to the selected destinations. This will stop tourists from visiting the most beautiful eco-tourism destinations in Sri Lanka (Ratnayake, 2015). Hulu gaga Falls, Ran gala Natural Pond and its associated ecosystem, Bearagala, Marabadda are some of the examples of Sri Lanka's eco-tourism destinations that are often missed by tourists due to their limited travels. Most Sri Lankans are not even aware that there are such places in the country.

Illegal farming is another reason for the collapse of the eco-tourism industry in Sri Lanka. The destruction of forests, the destruction of natural ecosystems, and the loss of animal habitats due to farming are creating obstacles to the development of eco-tourism in the country (Ratnayake, 2015). Therefore, to develop the eco-tourism industry in Sri Lanka, it is essential to ensure the eco-security of the country, and the rural community of the country should be made aware of how the eco-tourism industry can grow and develop the rural economy through eco-security.

2.4 Contribution of the eco-tourism industry to the elimination of unemployment in a country.

At a time when many countries in the world are generating jobs through the tourism industry, Sri Lanka's unemployment rate has risen from 5.1% in 2019 to 5.4% by 2020. According to Sun Lai Yung, a business consultant who has conducted research on the rising unemployment index in Sri Lanka, the leading factor affecting unemployment in Sri Lanka is that many young people in this country do not work for a long period of time in the hope of getting a job in the public sector in order to get job security and a pension for the rest of their lives. The second leading cause of unemployment is the lack of career guidance for school leavers. Therefore, many young people spend time in the untrained sector without increasing their human capital skills. Also, the third main reason is the low percentage of women contributing to the country's labor force. Therefore, unemployment in Sri Lanka is increasing year by year (Yung, 2017).

How can the eco-tourism industry eliminate unemployment in a country? The best example of this is Vietnam in the Asian region. At the beginning of 2000, the unemployment rate in Vietnam was 4.5 percent, but by 2020 it had dropped to 2.5 percent. 

The main reason for the decline in unemployment in Vietnam is the rapid growth of the country's tourism industry. Due to the high economic benefits of tourism, which contributes greatly to the country's GDP, the government has provided tourism-related employment to a number of less-skilled rural and young workers to reduce poverty. The Vietnamese government hopes to help to boost the economic growth of 40% of low-income families living in the country by increasing spending on tourism development (Kojucharov, 2019). Vietnam is a country that directly utilizes environmental resources to run its tourism industry, and its tourism sector is a valuable source of employment for the country. 5.2 percent of the country's workforce is employed in eco-tourism, and the WTTC predicts that the country's tourism-related workforce will grow by another 5.1 percent in the next decade (Oxford Business Group, 2020). The Philippines is another country that has reduced unemployment through tourism. Tourism contributes 13% to the country's local economy, with 14 out of 100 jobs related to tourism. By 2019, Eco-tourism-related employment growth in the country had increased from 5.36% to 5.71% in 2018, creating 350,000 new jobs in 2019 alone (The Philippine News Agency, 2020). Also, a research report on job creation using eco-tourism in Kenya shows that about 70% of the local tribal community in the MARA region and 53% of the indigenous tribal community in AMBOSELI have ecotourism related businesses. MARA and AMBOSELI are two of the country's leading eco-tourism destinations, attracting large numbers of tourists a year. The tribal community has introduced new business concepts such as lectures on their own natural environment and Masai culture in order to grow their family economy in a context where the local government has restricted professional employment to the local community in MARA and AMBOSELI. The research report further points out that businesses run by local people using the resources of eco-tourism sites of Kenya can generate a high level of economy in the eco-tourism industry (Okech, 2008). Sri Lanka can also create jobs through the tourism industry and build good entrepreneurs in the country by imparting entrepreneurial knowledge related to the tourism industry for the youth who have left the school and conducting training workshops on services related to the tourism industry.

2.5 Hidden resources of Sri Lanka that can be used to develop the ecotourism industry

Sri Lanka is an island that is rich in natural resources. From an entrepreneurial point of view, the ocean that surrounds the island, the lush ecosystem, and Sri Lanka, which has some of the best biodiversity in the world, are a treasure trove of business opportunities. The primary objective of an eco-tourism industry is to create a responsible eco-tourism tour of natural areas that is conducive to the well-being of the local population and involves interpretation and education (TIES, 2015). In order to develop the eco-tourism industry in Sri Lanka, environmental and cultural resources must be identified. Sri Lanka has the following natural resources.

While Sri Lanka focuses only on forest-based ecotourism, other countries in the world go beyond that and develop ecotourism using other natural ecosystems. Although Sri Lanka has 18 coral reefs, their use in ecotourism is minimal, not even in some areas. But the Bahamas, the Cayman Islands, and Puerto Rico attract about a million tourists a year to their coral reef tourism industry, and the coral reef tourism industry alone earns about $ 1 billion a year (Mapping Ocean Wealth, 2020).

Sri Lanka has 16 major rivers and 87 tributaries but they are rarely used for eco-tourism. But Nepal, a country in the South Asian region, earns a lot of money from its riverine tourism industry. Many tourists who visit Nepal are attracted to their riverine activities (UKEssays, 2011). Sri Lanka's lagoon and mangrove ecosystems, waterfalls, and conservation forests are also good sources of income in the eco-tourism industry.

Also, the agro-eco-tourism industry is another valuable opportunity that is being missed due to the lack of understanding about eco-tourism in Sri Lanka. Agro-ecotourism is an industry based on agriculture and modern tourism. China can be described as a country that uses this concept extensively. Currently, three models have been introduced to implement eco-tourism agriculture, namely the Sci-tech sightseeing and leisure farm model, The Leisure and entertainment model, and the Original ecotourism model, respectively. Leisure and entertainment model as an easy replacement model in Sri Lanka. This model allows tourists to experience recreation, walking and leisure, accommodation, and other activities in a rural agricultural environment. This will allow them to gain an understanding of the history of agriculture, ancient agricultural practices, and related experiences and local customs (Chunli, 2019). As Sri Lanka is a country where agriculture is at the forefront, eco-tourism and agriculture can combine to create good business opportunities.

2.6 Political, Social, and Financial Problems Facing an Entrepreneur in Sri Lanka

Sri Lanka is still a developing country, so many entrepreneurs in Sri Lanka face various political, social, and economic problems. Today, Sri Lanka ranks 90th in the Global Entrepreneurship Index (Global Entrepreneurship and Development Institute, 2020). Sri Lanka, which was ranked 71st in the Global Entrepreneurship Index in 2014 and 11th in the Asia-Pacific region, has dropped 19 places by 2020 (Daily FT, 2014). This shows that the number of entrepreneurs in Sri Lanka is declining day by day. Researchers Helen Ramya Gamage, Donald Cameron, and Elizabeth Woods of the University of Queensland, who have conducted extensive research on the problems of entrepreneurs in Sri Lanka, point out that the main problem affecting the decline of entrepreneurs in Sri Lanka is the investment problems.

According to the researchers, it is very difficult for an entrepreneur to get an investment in Sri Lanka. Many entrepreneurs today have to start a business using what they have saved over the years or by selling their family jewelry. Entrepreneurs with good business ideas do not receive any support at the political or state level, support on political affiliations is common in the country. According to researchers, the majority of entrepreneurs who have top-notch ideas and business concepts, give up because of frustration with political interference and the difficulty of obtaining investment. Banks and other financial institutions in Sri Lanka often refuse to lend to entrepreneurs as a risk-taking measure, and there are no concessional loan schemes in the country for any entrepreneur. Most entrepreneurs in Sri Lanka are reluctant to take out bank loans due to high-interest rate lending by banks and other financial institutions. Researchers Helen Ramya Gamage, Donald Cameron, and Elizabeth Woods point out that banks and financial institutions are directly responsible for reducing the number of entrepreneurs in the country and It shows that the emergence of entrepreneurs is declining every year due to the government not introducing a favorable economic policy (Rajsinga, 2012).

Another major problem facing an entrepreneur in Sri Lanka is corruption and fraud in the public service in the country. An internet article highlighting the impact of corruption on the public service in Sri Lanka shows that the majority of Sri Lankan entrepreneurs have to pay large commissions to public sector staff to get approval for their businesses. It is also highlighted due to inefficiency and delays in the public service, many valuable business opportunities are stalled without approval. The report further states that due to the Sri Lankan government has not introduced financial or legal policies to protect small and medium scale businesses (SMEs) many entrepreneurs are prejudiced in public sector banks, departments, and institutions when it comes to getting services (Premathirathna, 2017). This report is further corroborated by research conducted using the youth community in Sri Lanka the majority of people want to start their own business due to the high-interest rates in the banks, the inefficiency in the public sector, and the political instability that make them want to work for a monthly wage (Premathirathna, 2017).

The struggle for political power in Sri Lanka and the reckless actions of politicians are other major factors contributing to the decline in entrepreneurship in Sri Lanka. Many businesses in Sri Lanka went bankrupt from 2000 to 2017 due to pressure from politicians to seize power and give unauthorized permission to their allies. Fearing politicians, some young people have stopped running their businesses. Entrepreneurs are also facing problems due to the ever-changing legal policies of political transitions caused by power shifts. Also, with high taxes levied on businesses, the number of new entrepreneurs in Sri Lanka is minimal (Premathirathna, 2017). Considering the above factors, it appears that an entrepreneur in Sri Lanka is under great pressure due to political, social, and economic reasons in the country.

3. Methodology

3.1 Research Philosophy

The researcher constructed this research report using the pragmatism research philosophy. Pragmatism is a philosophical movement that includes those who say that if an ideology or proposal is satisfactorily functional, it is true, that the meaning of a proposal must be found in the practical consequences of accepting it, and that impractical ideas must be rejected (McDermid, 2020). The researcher hopes to gain a better understanding of the issues raised in the research report by studying the views of people who have lived under experience in the ecotourism industry and the social models and facts and statistics of the ecotourism industry. Pragmatism is often based on the science of epistemology. Therefore, a comprehensive understanding of the nature, origins, and limitations of human knowledge in the eco-tourism industry can lead to a practical exploration of new business opportunities in the industry.

3.2 Research Approach

The researcher used an inductive approach for this research report. The researcher points out that the reason for using the Inductive Approach method is the ease with, which the research process begins with observations and suggests a theory from the results. Because of research report studies new business opportunities, it is difficult to make a theory or hypothesis at the very beginning. In research like identifying a business opportunity, it is easy to formulate a theory or hypothesis based on the results of the observation of the individual's knowledge, the observation of resources, and the results of observing a person's mind recognizing the business opportunities around them. Since inductive reasoning is based on experiential learning, it is imperative to observe the similarities and formalities of experience when drawing conclusions.

3.3 Methodological Choice

This research report is based on a practical study of the ecotourism industry in Sri Lanka. Also, the facts and data contained herein are qualitative data based on human experience and understanding. Therefore, the researcher decides to use the qualitative method which comes under the mono method as the research methodology. Through this qualitative method, it is easy to find the questions of "what" and "why" mentioned in the research report, and gain an in-depth understanding of the experience phenomena and context required to build the primary objective of the research report. The researcher collects data for all the four research issues listed below under the qualitative data retrieval method.

• Why eco-tourism is an important industry for a country like Sri Lanka?
•  What are the currently unrecognized natural, social and industrial significant resources in Sri Lanka that can be used to create new business opportunities in Sri Lanka's ecotourism industry?
•  How does the emergence of new entrepreneurs in the eco-tourism industry contribute to reducing the unemployment rate in Sri Lanka?
• What are the political, social, and financial issues that directly affect the decline of entrepreneurs in the eco-tourism industry with new ideas in Sri Lanka?

3.4 Research Strategy

This research report is an exploratory case study focusing on the eco-tourism industry in Sri Lanka. A case study is a research approach used to generate a deeper, more diverse understanding of a complex issue in a real-life context. This case study shows the causes of the destruction of Sri Lanka's ecotourism industry and the positive factors that the country loses. This also highlights the social, economic, and political factors that make people in Sri Lanka afraid to choose entrepreneurship.

3.5 Data Collection and Analysis

In obtaining and analyzing qualitative data, the researcher has collected and analyzed data in two ways. The researcher conducts elite interviews or expert interviews to get qualitative answers to the first three questions of the research report. In the research sample selection method, the researcher uses a non-probable sampling method called linear snowball. Under this method, one resource person is selected first and the other resource person is found through him/her. In this way, a sample of 06 scholars and 04 entrepreneurs required for research is obtained.

The first two questions of the research report 

• Why eco-tourism is an important industry for a country like Sri Lanka?
• What are the currently unrecognized natural, social and industrial significant resources in Sri Lanka that can be used to create new business opportunities in Sri Lanka's ecotourism industry?

Were answered by the three professors with more than 10 years of experience in the tourism industry who currently working in recognized government institutions and departments in the field of tourism in Sri Lanka. The third question in the research report

• How does the emergence of new entrepreneurs in the eco-tourism industry contribute to reducing the unemployment rate in Sri Lanka?

Were answered by three senior professors who teach entrepreneurship and economics at two government universities in Sri Lanka. In question four

• What are the political, social, and financial issues that directly affect the decline of entrepreneurs in the eco-tourism industry with new ideas in Sri Lanka?

The researcher obtains information by interviewing four entrepreneurs who have been in the ecotourism industry for several years. The researcher conducts individual interviews with these entrepreneurs and obtains data through their experience and knowledge.

In the data analysis process, the researcher in-depth studies the data obtained through elite interviews and analyzes it through the conceptual analysis methodology for the first three research questions. But in the fourth problem, the researcher uses the conversation analysis methodology in the process of analyzing the political, social, and financial problems faced by new entrepreneurs in the ecotourism industry.

Secondary data also plays an important role in compiling this report. To obtain secondary data researcher uses the book “Story of Ecotourism Sri Lank which was written by Dr. Palitha Gurusinghe, who is currently making a significant contribution to the development of the eco-tourism industry Sri Lanka, to highlight the importance of eco-tourism in Sri Lanka.

4. Data Analysis and Presentation

4.1 Qualitative Analysis
4.1.1 Conceptual Analysis Process

At the end of the interviews with three experts in the Sri Lankan tourism and eco-tourism industry and three professors of entrepreneurship and economics, the researcher was able to gather a lot of valuable information needed to prepare the research report. The obtained data was analyzed through the conceptual analysis method under the content analysis methodology. In addition to the information obtained from the interviews, after a complex study of books and magazine reports, the researcher focused on five themes on which data could be analyzed. It can be listed as follows. The researcher seeks to provide a broad perspective on the impact of eco-tourism on Sri Lanka in terms of new business opportunities, economic growth, and unemployment.

• Important of the Eco-Tourism industry
• Unrecognized revenue-generating natural and human resources
• Creative business opportunities
• The use of entrepreneurship
• Eco-tourism role in rural economic growth

4.1.1.1 Important of the eco-tourism industry

Analyzing the importance of the eco-tourism industry in Sri Lanka, the first major theme identified by the researcher, he realized that eco-tourism is the lifeblood of the future tourism industry in Sri Lanka. This is well illustrated by the views of the three experts on the importance of the ecotourism industry. The views of these three scholars on the economic, social, and industrial importance of the ecotourism industry are as follows.

• Interviewee 01 – “In the next five years, there will be a growing interest in environmental protection and sustainability in the world tourism industry and every aspect of the tourism industry will be transformed according to this new concept. Sri Lanka also needs to identify this future tourism demand as soon as possible and take steps to establish eco-friendly and sustainable tourism zones in the country, Failure to do so will result in the loss of a large number of tourists visiting the country. Another good aspect I see in the ecotourism industry is the conservation of the environment and natural resources.”
•  Interviewee 02 – “Eco-tourism is an important industry for a country like Sri Lanka because of the economic benefits it can bring to the country. Just as eco-tourism protects the environment, it also develops the country's rural economy.”
• Interviewee 03 – “ This industry is unique to a country like Sri Lanka as it can be developed using the natural and cultural resources of the country without spending a lot of money like other sub-industries in the tourism industry. It is imperative that the concept of eco-tourism be implemented in Sri Lanka as well, as every tourism system in the world in the future will be based on the concepts of environmental security and bio-conservation. The high value of Sri Lanka in the tourism market due to the high natural beauty of Sri Lanka can also be cited as a reason to develop the ecotourism industry in Sri Lanka.”

In summary, these ideas imply that the entire tourism industry of the future will soon be based on eco-tourism. Also, the development of the rural economy and the number of employment opportunities that will be developed through the eco-tourism industry will have a direct impact on the economic growth of a country in the future. Furthermore, environmental protection and mitigation of environmental pollution through eco-tourism has become a social priority today.

4.1.1.2 Unrecognized revenue-generating natural and human resources

Ecotourism is not just an industry built on the natural environment. It is also an industry built on a mixture of cultural and social factors. The biggest weakness of the eco-tourism industry in Sri Lanka is the misunderstanding of the two concepts of eco-tourism and nature tourism.

• Interviewee 02 – “I see there is something wrong here. There is a misunderstanding between eco-tourism and natural tourism in Sri Lanka. Nature tourism is about exploring the environment while visiting natural areas. But ecotourism is about protecting the environment and the well-being of the people in the area. What has happened in Sri Lanka today is that all incoming tourists are being taken somewhere to show something”

The above comments clearly show that due to the misunderstanding of the two industries in Sri Lanka, many of the resources that could have been used to create this eco-tourism industry are being wasted. Following are the views expressed by these three scholars on the natural and human resources that can enable the missed tourism industry in Sri Lanka.

• Interviewee 01 – “I think we should use our natural ecosystems more for this industry. We can activate the ecotourism industry through a program to conserve coral reefs, mangrove ecosystems, and riverine wildlife zones. If we talk about human resources, we can use the cultural factors and human resources of our indigenous peoples, rural villages for this industry. In addition, we can engage in industries such as Ayurveda, agriculture, pottery, and puppetry and thereby activate eco-tourism. It is a great loss to this industry that we still do not try to activate the eco-tourism industry by connecting the oceans even though there are seas around our country.”
• Interviewee 02 – “We are still in the early stages of the eco-tourism industry. The problem here, as I said, is that many of us are entangled in nature-tourism, so there are a lot of opportunities we miss in these industries. No eco-tourism industry has been developed in Sri Lanka using waterfalls and rivers. But Nepal's ecotourism industry is largely driven by these riverine eco-zones. There is good biodiversity in the mangroves of Sri Lanka and we can use those things. We can further enhance eco-tourism in Sri Lanka through the use of forests and wildlife. If we focus on our rural areas, we can create new eco-tourism business opportunities involving various industries such as Ayurveda, fisheries, and agriculture. I am currently doing research to link the eco-tourism industry with yoga.”
• Interviewee 03 – “I see the unused resources of the ecotourism industry as the different biological zones in our country and the associated human communities. With the help of the associated fishing community, we can create eco-tourism in lagoon and mangrove biodiversity zone. We can activate eco-tourism in the forests with the cultural experience of the Vedda people. Why can’t we create an eco-tourism concept connecting the agriculture experience while enjoying the mountain's biodiversity? I think we need to stop showing forests to tourists and introduce new concepts as eco-tourism. Destination weddings are taking place around the world right now. Why can't we develop this concept through our cultural elements? What is wrong here is not the lack of resources, but the lack of a system to develop the tourism industry using these resources in this country. ”

4.1.1.3 Creative business opportunities in eco-tourism

The survival of every industry in the world depends on the competitiveness of its businesses (Helu, 2000). New business opportunities must arise in the industry for it to grow or survive. Not only the eco-tourism industry in Sri Lanka but also the tourism industry in the country has become a declining industry today due to the lack of competitive businesses that can attract tourists. During the interviews, the researcher realized that there was very little activity for tourists to do in Sri Lanka. This is very clear from the following direct quote

• Interviewee 02 – “I did some research and found out how much the foreigners who come to Sri Lanka like to adapt to the environment. I talked to a lot of tourists about this and they told me that Sri Lanka is a very beautiful country but they do not get a chance to experience the environment of the country. Some asked are there other places to visit in Sri Lanka besides the Yala, Nuwaraeliya, Colombo, and Kandy”

From the above excerpt, it is understood that the tourism industry of the country is active in a limited number of areas. Since the majority of tourists visiting Sri Lanka want to experience the ecological beauty of the country, the eco-tourism industry in the country can be easily built for tourists. These three researchers have a number of unique ideas about new business opportunities that can be initiated based on the ecotourism industry in Sri Lanka, and the country loses a lot of foreign exchange due to the fact that such valuable ideas are not implemented in the country.

• Interviewee 01 – “As I see it, photo safaris, hiking in the mountains and forests, observation of astronomical phenomena, and plant and animal conservation programs are new business concepts that can be started in the eco-tourism industry in Sri Lanka.”
•  Interviewee 02 – “The business opportunities I see as create camping sites in the forests, planting artificial coral reefs in the oceans, spiritual programs such as meditation programs, an endangered plant, and animal species conservation programs,
• Interviewee 03 –“I think we can develop the eco-tourism industry by using the Ayurveda medicine industry in the country, the cultural factors of the country, industries like agriculture, fisheries, etc. In addition, our indigenous people can be used to develop the ecotourism industry without harming their way of life.”

The above comments show that due to the lack of understanding between nature tourism and eco-tourism, a large number of natural and human resources that can be used by the eco-tourism industry are wasted.

4.1.1.4 The use of entrepreneurship

Entrepreneurship is the best solution for a country struggling with unemployment. The emergence of new entrepreneurs opens the door to new businesses and new alliances. This will create employment opportunities for a large number of people in the country (Kumar, 2018). Entrepreneurship can be described as the best solution available to eradicate unemployment in a country. As the number of entrepreneurs in a country increases, it will arise various businesses and factories in the country. Those businesses and factories will create new jobs in the country. It is a positive factor affecting the economic growth of the country. At the end of the interview, the researcher realized that a rising unemployment rate in a country would lead to the country's economic decline and business collapse.

• Interviewee 04 – “It is universally accepted that unemployment is unsuitable for a country's economic growth. Unemployment in a country means that they do not contribute to the economy of that country in terms of the goods or services that can be produced in that country. As the unemployment rate rises, the country's economic growth begins to slow, and high unemployment means that many families do not even have the money to cover the cost of living. This unemployment rate also affects existing businesses and the lack of money among the people leads to a decline in product purchases. So of course, unemployment affects the country's economy.”

The following are the views of professors of economics and entrepreneurship on the use of entrepreneurship to reduce unemployment.

•  Interviewee 04 - “As a problem in Sri Lanka, there are a large number of people to work for, but the number of people to create jobs is minimal. Entrepreneurs in Sri Lanka constitute only 1% of the total population. There is a reason for this, many people want to do a government job. Or do a job in the private sector for a monthly salary. Their idea is to stick to a monthly salary, not to find a new investment. The public sector in Sri Lanka alone cannot create jobs. It also needs the support of private sector entrepreneurs. Therefore, in my opinion, there should be more entrepreneurs in Sri Lanka.”
• Interviewee 05- “Of course, the best way to eliminate unemployment in a country is to increase the number of entrepreneurs in that country. If a significant portion of the country's population becomes entrepreneurs and builds business opportunities in the country, the vast majority of the country will surely have employment opportunities.”
• Interviewee 06 – “As I mentioned earlier, there are very few entrepreneurs in Sri Lanka today. The biggest reason for the rise in unemployment in Sri Lanka today is that many people are looking for government jobs. They want to get a government job anyway because they get job security and a pension. The day we change this will solve a lot of problems in the country. Many countries of the world today, encouraged people to become entrepreneurs. Entrepreneurs will create new employment opportunities in the country. It is a good contribution to the economy of the country.

The direct idea that emerged from the above caption was that the business opportunities created through the emergence of new entrepreneurs would create employment opportunities in the country. Whenever there are job opportunities in the country, certain sections of the society will have the opportunity to do so. It will reduce unemployment in the country as well as increase the income of the country's local economy through these industries.

4.1.1.5 Eco-tourism role in rural economic growth

Ecotourism is an industry that can be built using the available resources of the country at a low financial cost. As the eco-tourism industry is primarily focused on rural areas, the rural economy can be developed through it.

• Interviewee 02 – “The main objective of the eco-tourism industry is to conserve nature as well as improve the living standards of the local community. The growth of the tourism industry in rural areas will stimulate local economic development. Through the emergence of the tourism industry in rural areas, the community not only gets jobs but also the opportunity to sell their products and services.”

Unemployment in Sri Lanka is high in rural areas due to the lack of employment opportunities for the less educated in those rural areas.

Interviewee 05- “One of the biggest weaknesses I see in reducing unemployment in Sri Lanka is the lack of action to stimulate employment in the rural community. The fact that people in these rural areas do not think of a fixed salary and most of them work for a daily wage. This is a major factor affecting the unemployment level in the country. Therefore, providing employment to this rural community should be done as a solution to reduce unemployment in the country.”

• Interviewee 06- “As I see it, if the eco-tourism industry develops in Sri Lanka, the advantage of it will go to the rural areas where it operates. Most of the people in these areas are farmers or day laborers. There are young people in many rural areas of Sri Lanka who are wasting their time without a job. The development of eco-tourism in rural areas means that many people in these areas will find employment or entrepreneurial opportunities.”

In Sri Lanka, various industries and cultural elements such as agriculture and traditional medicine are more active in rural areas than in urban areas. Many people in these rural areas make money from these industries but do not focus on earning extra income from them. Utilizing these industries for eco-tourism will pave the way for the rural community to earn extra income.

• Interviewee 04 “As an Entrepreneurship Consultant, I have visited many rural areas in Sri Lanka to conduct entrepreneurship programs in those areas. One of the things I saw there was that many people want to get a daily wage instead of a permanent income. As a country where we have a strong tourism industry, we have still failed to create tourism in these rural areas. There is agricultural tourism in the world, there is rural tourism. Through the operation of such industries, the people of the rural areas can start their own businesses due to the tourists who come to these areas. They can sell their products to tourists, share their knowledge with tourists. This will help in the economic development of the rural community and the development of infrastructure in these areas due to the influx of tourists.”

4.1.2 Conversation Analysis Process

The researcher realized that there is a dearth of new entrepreneurs in the eco-tourism industry in Sri Lanka during his study of the eco-tourism industry. There are political, social, and economic factors that strongly influence this decline. The researcher conducted interviews with four people who have been entrepreneurs in the ecotourism industry for several years to gain an accurate understanding of the political, social, and economic issues facing entrepreneurs in the ecotourism industry. The data obtained through it were analyzed using the conversation analysis concept.

The first thing that was revealed during the interviews was that all the four entrepreneurs who participated in these discussions were deeply dissatisfied with the current tourism industry in Sri Lanka and the rulers of this industry. Decreased people's interest in an industry has a direct impact on minimizing business growth in that industry.

• Entrepreneur 01: Sri Lanka is a very beautiful country. There are many beautiful things for foreign tourists to visit. But today there is no responsible person in the country to properly promote Sri Lanka's tourism industry in the world and bring good tourists to this country. The tourism industry in this country has already been destroyed. Because everything in the country is politicized.
•  Entrepreneur 02: We as entrepreneurs in the tourism industry today are very helpless. No responsible person in this country wants to develop the country's tourism industry. In the early days after the end of the war, many foreigners came but now only a very small number come. Day by day our businesses are collapsing.
• Entrepreneur 03: It is very difficult for me to imagine how the tourism industry in Sri Lanka will function. One of the reasons is that Sri Lanka is one of the most beautiful countries in the world, but there is no need for responsible persons to develop the tourism industry in this country. Because of this, a lot of businessmen like us who depended on this tourism industry are doing other business on the streets today.
• Entrepreneur 04: “I think the tourism industry in Sri Lanka is not functioning properly. Because no one has come forward to develop Sri Lanka's tourism industry like in other countries.”

These comments show that the failure of the government or responsible persons to develop the current tourism industry has caused great distress to the entrepreneurs in the industry. The comments of these entrepreneurs stated that there are issues affecting the eco-tourism industry in Sri Lanka more than the undeveloped tourism industry in order to prevent the emergence of entrepreneurs. By discovering them, opportunities can be created to develop new entrepreneurs in the country.

Entrepreneur 04: “There are very few businesses operating within the concept of eco-tourism in Sri Lanka. Although many countries in the world have tried to develop this eco-tourism industry, have we still do one thing? Do you think there are no people in Sri Lanka who want to start a business in the eco-tourism industry? We have people who have new ideas for work but the current weak politics in the country, the lies of the society also there is no one to help, It make them work somewhere for a monthly salary.”

The main reason for the small number of eco-tourism businesses in Sri Lanka is the current political, financial, and social problems in Sri Lanka. Analyzing the data of all four entrepreneurs who participated in the interview, it appears that the weakest political activity in the country is the number one strongest factor influencing the lack of business in the eco-tourism industry in Sri Lanka. It is confirmed by all four of these entrepreneurs.

•  Entrepreneur 01: “The main reason why this industry is in this situation today is because of the politics prevailing in this country. I had a lot of trouble starting this business. It is difficult to get the necessary legal permission to start a business without the approval of a Minister. There are occasions when we are influenced by local politicians to a state minister. We need to find a suitable place to operate the ecotourism industry in a natural ecosystem. Sometimes we have to spend extra money to get approval for this”.
• Entrepreneur 02: “The strongest reason for the lack of new entrepreneurs in Sri Lanka's ecotourism industry is the country's weak political policies and political interference. Nothing can be approved today without political intervention. The infrastructure required to develop the country's tourism industry is not being developed. Have to pay a commission to get the approvals. Who would like to start a business like this?”
• Entrepreneur 03: “Our businesses have always been built on areas of high biodiversity and natural beauty in the country. We have to get approval to start a business in these places. But the current politics in the country is only aimed at gaining power or money instead of protecting the entrepreneurs. It is often difficult for us to get approval for our business without the help of politicians. No government has introduced a legal framework to protect the country's entrepreneurs. Because of these things young people today do not want to start a business.”
• Entrepreneur 04: “Not only in the eco-tourism industry but also in any other industry in Sri Lanka, large-scale entrepreneurs are not emerging due to the current economic situation in the country. The government of the country is trying to get as much tax as possible from the businessmen. But no one is tempted to create a successful entrepreneur. The banking system in Sri Lanka takes the initiative to destroy good business ideas, they lend to businessmen at high-interest rates. Businesses may have to pay higher interest rates to the bank than they earn

An analysis of the above comments shows that the lack of assistance to entrepreneurs to find capital through the existing public and private banks in the country is a big problem. At the same time, the country's weak economic policies, such as high taxes and the lack of relief for financial needs, have created a negative impact on the growth of entrepreneurs.
The third factor influencing the low entrepreneurship in the ecotourism industry is the social factor. Certain views in society have directly affected the entrepreneurs in this country. 

• Entrepreneur 01: “The hardest problem we face as entrepreneurs in the early stages is that society looks down on entrepreneur’s sarcasm way. My parents also wanted me to do a government job like them. They always told me that if I did a government job, I would get a pension. This effect affected me very negatively. I think a lot of entrepreneurs have to face this problem too. On the other hand, society says that entrepreneurs are a time consuming group. So a lot of people always say don't start a business cause it won't work.
• Entrepreneur 02: The stupid ideas in society are the main reason for the decrease in the number of entrepreneurs in our industry. Many parents in this country want to see their child do a good job, not to encourage them to become an entrepreneur. Therefore, today's young community is afraid to take a risk for a business. Many in society think that a person with higher education or a degree should always have a higher job. Most people in Sri Lanka do not want to make an investment. Today I have about 30 employees and even though I started a business for these people, no one can take a risk and run it. That's the difference between 'us and society'.
• Entrepreneur 03: This society and its people is a very emotional issue for Sri Lankan entrepreneurs. When I first started this business, many people around me said that I could not be a successful entrepreneur. They told me I am not the right person to be an entrepreneur. I faced these things with intense fear. As you said, society can create or destroy an entrepreneur. Look at the way the youth community is today, they need a government degree and a government job. Why can't these educated children make their own investments? There are many young people who have been waiting for a government job for years. There are parents who do not allow their children to work. We need to get rid of these lies in society.
•  Entrepreneur 04: My parents and family did not like me doing this business. They always thought that a person who did a good job had a reputation in society. I think a lot of parents prevent their children from becoming entrepreneurs. There is no one to motivate the youth for business. It's really sad.

The above comments show how much these four entrepreneurs have been influenced negatively by Sri Lankan society. The above comments show how much these four entrepreneurs have been influenced by the Sri Lankan society. The influence of their family members on them is now felt by the youth of this society as well. In addition to these major factors, there are other factors that contribute to the low entrepreneurship in the industry, including the actions of government departments and government offices. Soliciting a bribe for business approval, Due to fraud and corruption in the public service sector, entrepreneurs are suffering severely.

• Entrepreneur 04: “I am very angry about the government sector in Sri Lanka. Many Sri Lankan entrepreneurs suffer because of these government departments. Requesting a bribe for business approval, not granting approval if a bribe is not given. Due to inefficient public service, we have to face many problems such as taking too much time for business approvals, fraud, and corruption in the public service sector. These things will negatively affect entrepreneurs.

5. Discussion of findings in relation to literature

5.1 The importance of eco-tourism to Sri Lanka

Eco-tourism is a sub-industry of the tourism industry and is a popular industry in many parts of the world today. Through the ecotourism industry, which is also known as a tool used for sustainable development, environmental conservation, learning processes, economic and social development of local communities are carried out. Researchers predict that the eco-tourism industry, which is the world's tourism boom in the next 10 years, will make a big difference in the tourism market. In such a situation, the importance of eco-tourism to Sri Lanka can be pointed out economically, socially, and industrially.

The ecotourism industry is now highly regarded in the world. Due to the conservation of the environment and the development of the local community through this industry, many tourists select eco-tourism. According to tourism experts, by 2030, about 1.8 billion eco-tourists will travel around the world (Shanika, 2019). At a time when such a demand is being created in the eco-industry of the world, eco-tourism is important for Sri Lanka because Sri Lanka is a country that earns a large income from tourism for its GDP. Tourism is one of the most important industries in Sri Lanka because many jobs in the country have been created in the tourism industry. At a time when there is a high demand for eco-tourism in the world market, Sri Lanka should also take steps to meet this demand. If not, the number of tourists visiting the country will decrease day by day. It will help to collapse the country's tourism industry. Therefore, the development of the ecotourism industry in Sri Lanka is a viable option for the future growth of the industry.

Also, another important opportunity for the country from this industry is the economic growth of the local community. As the ecotourism industry operates in natural and rural areas, it creates important opportunities for the country's economy, such as providing employment to the local community, providing alternative livelihoods to the local community, and creating new opportunities for local entrepreneurs.

The other important factor is the environmental protection that comes from this industry. Sri Lanka is a country where rapid environmental degradation is taking place. The extensive development of the eco-tourism industry in Sri Lanka will lead to the conservation of Sri Lanka's endangered biodiversity, flora, and fauna. As the ecotourism industry also focuses on local traditional industries, the decline of those traditional industries is minimal. Therefore, the eco-tourism industry is undoubtedly one of the most valuable industries for a country like Sri Lanka.

5.2 Importance of using eco-tourism for rural economic growth and elimination of rural unemployment in Sri Lanka.

The eco-tourism industry can play an important role in the economic development of the people in the rural areas and will lay the foundation for sustainable rural development. Ecotourism is not an industry based solely on the natural environment. It is a combination of community-based tourism, nature tourism, and rural tourism. The ecotourism industry operates mostly in rural areas rather than urban areas. Today, many countries around the world have used eco-tourism to boost economic growth and reduce unemployment in their rural areas. Ecotourism is currently the largest foreign exchange source in countries such as Costa Rica and Guatemala. The eco-tourism industry has made a significant contribution to economic growth and job creation in the rural areas of these countries (Anup, 2016).

The establishment of eco-tourism in rural areas will create various employment and entrepreneurial opportunities for the people in those rural areas. Eco-tourism in rural areas is based on environmental, social, and cultural factors. Due to the high cultural diversity of these rural areas, their clothing, food, art, and traditions have a monetary value under the eco-tourism industry. Therefore, the number of entrepreneurial opportunities available to the rural population is high. As explained in the interviews, the reasons for the increase in unemployment in Sri Lanka are the increase in the number of people looking for a job for the first time after completing full-time education and the lack of people to create jobs. The majority of job seekers live in rural areas. Looking at the Unemployment Index in Sri Lanka, it is clear that the unemployment rate is high in the rural areas of Sri Lanka. According to the Sri Lankan Department of Labor Statistics, the highest unemployment rate in 2019 was recorded in the Southern, Eastern, and Central Provinces. Unemployment has increased in every province of Sri Lanka in the four years from 2016 to 2019.

Therefore, by identifying the business opportunities of the eco-tourism industry in the rural areas and encouraging and supporting these job seekers to provide services or products in that industry, new businesses are started in the rural areas. The emergence of an individual, social, and government entrepreneurs based in rural areas will provide employment opportunities to the people in those areas. It will strengthen the rural economy and the unemployment problems of the rural areas are being solved through job creation.

The best example of this can be found in Turkey. Where the administrative authority of the Kuscenneti National Park in Turkey provides the infrastructure and sponsorship to the rural people who are living in the vicinity of the forest to provide camps and services for tourists. As a result of this most of the rural communities, today have been eradicated from poverty and are living at a stable economic level (Anup, 2016).

Through the ecotourism industry, the rural people will have the opportunity to sell their products to the tourists who come to the rural areas. The rural people can earn extra income by selling products that tourists are most interested in, such as honey, local food, batik clothing, pottery, etc. Also, the economy of rural families will be further strengthened by creating self-employment and launching these products in the rural areas of Sri Lanka using the women who have the highest unemployment rate.

In the ecotourism industry, tourists have the opportunity to study various industries and the rural people have the opportunity to earn money by sharing their knowledge with them. Foreigners are interested in learning about industries such as wood carving, Ayurveda, local cuisine, and agriculture therefore both local men and women can share their knowledge and earn money. Through these opportunities, the eco-tourism industry provides an opportunity for the rural community to increase their income and find new jobs. Therefore, eco-tourism is one of the best industries in Sri Lanka to strengthen the rural economy and create new jobs in rural areas.

5.3 New business ideas that can be established in the eco-tourism industry in Sri Lanka.

During the data analysis, the researcher realized that Sri Lanka's tourism and ecotourism industry is currently operating using only a limited amount of the country's biodiversity and natural resources. Also, in the interviews, resource persons who are well versed in the field of tourism pointed out that Sri Lanka's natural resources, cultural resources, various industries, and human resources are not being utilized properly. Many tourists who visit Sri Lanka like to explore and enjoy the natural environment of Sri Lanka, but due to the lack of opportunities to do so, they are dissatisfied with the tourism industry in Sri Lanka. Furthermore, the analysis of the data revealed that the majority of tourists visiting Sri Lanka do not spend even half of their travel expenses in Sri Lanka. All this shows that the tourism industry in Sri Lanka needs to break free from the traditional way and conduct new experiments. It is very timely to identify new business opportunities related to the ecotourism industry in Sri Lanka as it can be very well operationalized using the resources available in Sri Lanka and will soon become the world's leading tourism concept. The following are some of the new business opportunities identified during the interviews.

It was suggested that a new business opportunity could be created through the amalgamation of Ayurveda and the eco-tourism industry in Sri Lanka. It was discovered that the concept of eco-health tourism is developing in the world by combining the health tourism industry with the ecotourism industry in the year 2018. The main purpose of this concept is to provide tourists with the opportunity to seek treatment for ailments while enjoying the beauty of nature. Ghana on the African continent is reported to be the first country to implement this concept. Launched as a $ 476 million government development project in 2021, the first Eco-Medical Village will include a four-star hotel, pharmacy, and air ambulance service, with the aim of promoting both the health and tourism industries in the country. It is also expected to create 5,000 jobs (Keys, 2019). This eco-health tourism concept can also be applied in Sri Lanka and new businesses can be started by combining local Ayurveda science and eco-tourism. The following is the examples of such new business opportunities

• Create a traditional Ayurveda village in a selected rural area of the country where tourists can receive residential treatment or education with attractive activities such as cultivating herbs, assisting in the production of traditional medicines, learning about natural herbs, and experiencing cultural aspects of the traditional medicine industry while experiencing Ayurveda treatments. Through this new business concept, the country will be able to create new jobs and earn foreign exchange.

The concept of merging the tourism industry with the agriculture of Sri Lanka can be cited as another view expressed by the scholars who participated in the interviews regarding the creation of new business opportunities related to the eco-tourism industry. This concept is now prevalent in many developed countries of the world. It is being tested in countries such as Italy, Australia, Latvia, and France. India has joined as the latest country to implement this concept. Agro-ecotourism is one of the fastest-growing tourism models in the world. According to the World Tourism Organization, agro-eco-tourism is a way for tourists to experience the true ethnic culture of rural communities while actively engaging in agricultural activities without compromising the ecosystem (Daily Excelsior, 2020). During the interview, the eminent professors of tourism and entrepreneurship in Sri Lanka also pointed out the need to introduce the concept of agro-eco-tourism to Sri Lanka, Accordingly, the agro-eco-tourism sector can be pointed out as a good opportunity to build new business opportunities in the eco-tourism industry. The following is an example of a new business opportunity that an entrepreneur can start.

• Creating an agro holiday village where travelers can experience agricultural activities in Sri Lanka. So that tourists can gain a greater understanding of modern and old agricultural practices. Tourists should be given the opportunity to directly participate in activities such as harvesting, planting nurseries, and packing agricultural products while experiencing the cultural aspects of a farming village.

Another business opportunity that emerged from the interviews was that new business opportunities could be created in the eco-tourism industry using the indigenous people of Sri Lanka and their cultural elements. Although this concept is not used in Sri Lanka, many countries in the world use this concept to attract tourists to their country. This concept, known as community-based tourism, has been defined by the World Tourism Organization as a form of tourism in which the local community living in a country shares their environment and lifestyle with visitors. In Sri Lanka, this community-based tourism system can be successfully developed by connecting with the indigenous people of the country. The ecological experience, culture, and lifestyle of these aboriginal people are definitely an eternity that attracts tourists. Countries such as Ecuador, Brazil, and Kenya can be cited as the countries where the community-based tourism industry is successfully carried out using indigenous peoples. Many tourists like to spend their holidays with these indigenous people, adapt to their culture and explore the forests. By providing such an opportunity for tourists visiting Sri Lanka, Sri Lanka can attract more foreigners.

Another point that came to the fore during the interview was the eco-tourism industry’s involvement with tourists traveling on educational and exploration needs. Educational tourism can be pointed out as one of the most active forms of tourism in the tourism industry at present. Higher education students and students from various universities travel around the world for various explorations such as history exploration, marine life exploration, and wildlife exploration, etc. Taking advantage of such opportunities and attracting students to Sri Lanka for various explorations the country can earn a large income. Students will definitely come to Sri Lanka if they are given the opportunity at a low cost to study aspects such as the animals, climate, history, culture, Ayurveda science and etc. For this, ecotourism and education tourism can be combined to create different businesses to attract student tourists to the country an example of this is given below.

• Establishing educational camps at concessionary rates from other countries in the region to attract students studying in foreign universities to study the prehistoric humans, ancient civilizations, and their way of life in Sri Lanka.

Today, Sri Lanka's ecotourism industry is limited to forests and rivers. But there are more natural resources in the biodiversity of Sri Lanka. Experts who participated in the interviews pointed out that new business opportunities could be activated in this industry by utilizing the country's oceans, coral reefs, lagoons and mangroves, mountains, and waterfalls. The concept of the building using these resources is called adventure eco-tourism. In the analysis of other eco-tourism destinations in the world, those countries are at the forefront of the adventure eco-tourism business. Adventurous eco-tours include hiking, cycling, and kayaking, rafting, wildlife watching, and nature education. This concept is also valuable for Sri Lanka. This is because the mountains, waterfalls, rivers, and seas of this country can be used to create an eco-tourism business. Diving eco-tourism can also be created in Sri Lanka using marine biodiversity and coral reefs. Furthermore, the use of biodiversity associated with lagoon and mangrove systems can lead to the development of new businesses based on those resources.

Based on the ideas identified during the discussions with these scholars, the researcher found new business concepts that have not yet been used in the ecotourism industry in Sri Lanka as well as in the world.

•  Many eco-tourists oppose the polluting modes of transportation. They prefer to keep only memories instead of carbon footprints. Using this concept, a Sri Lankan entrepreneur can start a business in the ecotourism industry that allows travelers who want to experience a rural environment and village lifestyle, give them a chance to spend a few days in a travel trailer with an animal cart. A travel trailer is a type of moving house that is lovingly towed by a vehicle where a person can stay more comfortably and safely than in a tent. The concept should be implemented in a rural environment, and animal-drawn carts can be used to travel around the area without sing burning carbon transport mode. This system gives tourists a fresh experience and an opportunity to experience the rural environment as well as experience the environment without harming it.
• Many tourists prefer to have a destination wedding. This passion can also be used to create a business opportunity in the ecotourism industry.it will be a new experience for these tourists to have the opportunity to have a wedding ceremony according to the customs and traditions of the various cultural communities of Sri Lanka.
• There is a high attraction in the world for the diving industry, and it is an activity that attracts a large number of adventure tourists. There are various diving methods in the diving industry and night diving, drift diving, and wreck diving are currently used in many parts of the world such as for eco-tourism. But these activities are limited to a few hours a day.

But by creating a floating lodge, these travelers can live for a few days with the marine environment and its ecosystem. Therefore, a new Sri Lankan entrepreneur can use a boat to create a floating lodge where several tourists can stay in the deep sea for a few days. This allows them to experience the beauty of the ocean environment and night diving in a couple of days. This is a valuable opportunity for Sri Lanka as no other country in the world has ever used such a system in the ecotourism industry.

5.4 What are the political, social, and financial issues that directly affect the decline of entrepreneurs with new ideas who want to start a business in the Sri Lankan ecotourism industry?

In Sri Lanka, not only in the tourism industry but in any industry, a very small number of entrepreneurs are emerging. This is strongly influenced by the current political, economic, and social factors in Sri Lanka. Through finding these problems it is possible to find the right solutions to them.

According to the entrepreneurs who participated in the interviews, the major problem faced by entrepreneurs in this eco-tourism industry is the political factor. The majority opinion expressed in the Interview was that Sri Lankan politicians are influencing business. Also, the failure of the government to provide good infrastructure in the country and the weaknesses in the legal framework have made entrepreneurs fearful of starting a business in this industry. The following are the political factors influencing the new entrepreneurs gained through the interview.

• Various influences exerted by Ministers or their associates
• Lack of a legal framework to protect the country's entrepreneurs
•  Poor infrastructures in the country
• Economic policies change due to political power change

The second point that was confirmed during these discussions was that the emergence of entrepreneurs in the ecotourism industry is declining due to the prevailing factors in the country's economic sector. The biggest problem an entrepreneur faces in Sri Lanka is the difficulty of finding capital for the business. Furthermore, new entrepreneurs face serious problems in the face of high government taxes and poor economic policies. Most of the respondents in the interviews cited economic issues as showing that it directly affects the emergence of entrepreneurs in the ecotourism industry today. Weaknesses in the banking system under economic factors are having a major impact on the decline of entrepreneurs in the country. In Sri Lanka today, many entrepreneurs are reluctant to get capital for their businesses through banks due to high-interest rate loans. Sri Lanka has the highest bank interest rate in the Asian region. In such a situation, people with new ideas stay away from starting a business thinking that they will start a business and incur losses.

The social factor is the third major problem faced by entrepreneurs in Sri Lanka. The biggest problem here is that the youth community decides not to be entrepreneurs in the face of intense pressure from parents and family members. Also, the number of entrepreneurs in Sri Lanka is declining day by day due to the socially accepted opinion of those who work with a monthly salary and the social opinion that well-educated people should have a job.

Another reason for the decline in entrepreneurship in the ecotourism industry is the fear of business risk by the youth community in the country. Also, many in the community are looking for government jobs because of job security and pensions. As a result, the unemployment rate in the country is rising and the motivation for entrepreneurship is declining. Negative words uttered by people in society also affect the decline of entrepreneurs. They are afraid to start businesses because of the fears given by society instead of encouragement.

According to Transparency International's 2019 Corruption Perceptions Index, Sri Lanka ranks 93rd out of 180 countries. Fraud and corruption are also common in the Sri Lankan public service. This problem affects entrepreneurs severely. During the interviews, the entrepreneurs said that many entrepreneurs face problems due to the demand for commissions from government offices to approve businesses and fraud and corruption in the government sector. This is confirmed by the report "Bribery and Corruption in Sri Lanka" published by East-West Management Institute, leading global information, and measurement company. The presence of government agencies and the tourism industry in the top 10 most corrupt sectors in Sri Lanka well confirm the reason for the declining number of entrepreneurs in Sri Lanka's tourism industry. This report cites the tourism industry as an example of public sector inefficiency. It is described as follows. “Two businessmen who own hotels outside Colombo stated that it took three months and multiple trips to the Tourism Board in Colombo to obtain their licenses. These inefficiencies could be either because the actual process was arduous or because public officials were unwilling to do their jobs in an efficient manner (East-West Management Institute, 2019).” The report concludes that employees of government agencies deliberately delay their work in the hope of soliciting bribes from people (East-West Management Institute, 2019).

6. Conclusion and Recommendation

6.1 Conclusion

The current state of eco-tourism in Sri Lanka is not very favorable. In this research on the eco-tourism industry in Sri Lanka, the researcher realized that a large number of natural human, and industrial resources that can be used for the eco-tourism industry in Sri Lanka are wasted. As a developing country, it is truly regrettable. Instead of providing a quality tourism industry, the concept of trying to increase the number of tourism heads should be eliminated from Sri Lanka. This is causing the country to lose many sources of income.

Following the study of the above research report, the researcher concludes on the importance of the eco-tourism industry in Sri Lanka, which is the main objective of this research report as bellow

• Sri Lanka Tourism industry is the third-largest source of income for the country's GDP and 8% of the country's employment-generating source. Many families in Sri Lanka depend on tourism for their livelihood and are a major source of foreign exchange for the country. However, compared to other countries in the world, the number of jobs related to tourism in Sri Lanka is low and the income of the industry is low. The main reason for this is the implementation of the narrow concept of providing accommodation in Sri Lanka without activating the sub-industries of the tourism industry. This will destroy the future tourism industry of Sri Lanka. Therefore, for the betterment of the tourism industry, sub-industries of the tourism industry, such as eco-tourism, which are in great demand in the world today, should be established in Sri Lanka.
• Eco-tourism is important for a developing country like Sri Lanka because of its economic and social benefits. Many countries in the world are now using eco-tourism to boost their economic status in rural areas. As the unemployment rate is high around the rural areas in Sri Lanka too, Sri Lanka can develop the rural economy through the use of eco-tourism.
• Another reason why the eco-tourism industry should be developed in Sri Lanka is that there are many business opportunities associated with eco-tourism. Through the identification of these business opportunities, new businesses can be created in the country and employment opportunities can be created. This will be a positive factor for the country's economy and reduce the unemployment index. Considering the above factors, it will be clear how important it is to develop the eco-tourism industry in Sri Lanka.

The research report reveals that lagoons, mangroves, mountains, rivers, waterfalls, conservation forests, coral reefs, and deep ocean ecosystems can be used to launch new business opportunities in Sri Lanka's ecotourism industry. Indigenous peoples of this country can be used to create a new business in the eco-tourism industry of Sri Lanka and the eco-tourism industry in Sri Lanka can be tried using traditional industries such as agriculture, tea, fisheries, and Ayurveda.

The non-emergence of entrepreneurs associated with eco-tourism in Sri Lanka as an industry has contributed to the non-establishment of eco-tourism in the country. An in-depth study of this eventually led to the realization that entrepreneurs are not emerging significantly in Sri Lanka, not only in the ecotourism industry but in other industries as well. The conclusion about the factors that contribute to the non-emergence of entrepreneurs in Sri Lanka is as follows.

• It is a common thing in Sri Lanka today that the elderly people in Sri Lanka forcedly stop their children from becoming entrepreneurs and encourage them to work for a monthly wage. For this reason, the present youth community in the country fear taking risks,
• The willingness and interest of the people of Sri Lanka to take up government employment is another factor that has hampered the emergence of Sri Lankan entrepreneurs and the fact that young people have been tempted to wait a few years for a government job to receive pensions and social recognition led them not be an entrepreneurs
• Weaknesses in Sri Lanka's financial institutions are also a direct cause of the decline in Sri Lankan entrepreneurship, and new ideas are being thrown away by newcomers due to the difficulty of finding capital. High-interest rates on financial companies today have contributed to the slowdown the entrepreneurs.
•  The political weaknesses in the country have also contributed to the decline of entrepreneurs. Many people are reluctant to start a business because of dissatisfaction with the direct involvement of ministers.

6.2 Propositions

• The future survival of Sri Lanka's tourism industry depends on the success of the eco-tourism industry.
• The best way to strengthen the economy and eliminate unemployment in rural areas in Sri Lanka is by using the eco-tourism industry
• Women can also contribute to the growth of the domestic economy through the activation of eco-tourism in rural areas.
• In order to develop the eco-tourism industry in Sri Lanka, it is imperative to develop entrepreneurs in that industry.

6.3 Recommendation

Based on the above findings and conclusions, the following are the effective eco-tourism business opportunities that can be implemented in Sri Lanka. The following business opportunities have not yet been implemented in Sri Lanka and the country can attract business people through such attractive and competitive ventures.

• Providing the opportunity to spend a holiday in a rural area and engage in local cuisine in association with the rural people
• Create an eco-destination wedding concept
• Establishment of Night Diving and Night Safari Systems in Sri Lanka
• Establishment of Yoga Holidays for Tourists in Rural Areas
•  Providing the opportunity for tourists to spend a holiday in a floating lodge made using natural resources to experience the riverine biodiversity of Sri Lanka.
• Create a medieval village with historical stories and give the opportunity to spend a holiday with the cultural elements of the past
• Launch and broadcast worldwide a TV show or YOUTUBE channel related to eco-tourism in Sri Lanka
• Create a travel agency specializing in Eco-Tourism

According to the findings of this research, in order to develop the tourism industry in the country, new entrepreneurs need to be created. However, due to the current economic, social, and political impacts on Sri Lanka, the number of entrepreneurs in Sri Lanka is declining. This will negatively affect the economic growth of the country and the Government and the private sector in Sri Lanka must work to promote and support entrepreneurs in Sri Lanka. The following are recommendations for developing such entrepreneurs in the Eco-tourism industry.

• Establish favorable tax policies
•  Providing educational knowledge required to become an entrepreneur
• Granting the right to act independently without political interference
• Providing concessionary interest loans
• Helping to find local and foreign investors
•  Provide vocational training to every person after school education about entrepreneurship
• Introducing small and medium scale entrepreneurs in Sri Lanka for foreign investors
• Conducting village level training workshops to create rural level entrepreneurs
•  Providing state-level sponsorships for entrepreneurs
•  Establishment of a new state banking system to provide loans to entrepreneurs
• Help to the uplift of Entrepreneurs at Rural Level

7. References

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•  Neufeld, D. (2020). Visualizing the Countries Most Reliant on Tourism. [online] Visual Capitalist. Available at: https://www.visualcapitalist.com/countries-reliant-tourism/.
• Council, W.T.& T. (2017). Where does Travel & Tourism create the most jobs? [online] Medium. Available at: https://medium.com/@WTTC/where-does-travel-tourism-create-the-most-jobs-4c3347670a78.
• sltda.gov.lk. (n.d.). SLTDA | Sri Lanka Tourism Development Authority. [online] Available at: https://sltda.gov.lk/statistics.
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• www.xinhuanet.com. (n.d.). Sri Lanka receives 1.9 million tourists in 2019 - Xinhua | English.news.cn. [online] Available at: http://www.xinhuanet.com/english/2020-01/07/c_138685384.htm [Accessed 30 Oct. 2020].
•  ecoclub.com. (n.d.). Interview: Dr. Palitha Gurusinghe, President, Sri Lanka Ecotourism Foundation. [online] Available at: https://ecoclub.com/headlines/interviews/all-interviews/1176-180807-palitha-gurusinghe.
• oceanwealth.org. (n.d.). The Caribbean Needs Tourism and Tourism Needs Healthy Coral Reefs | Mapping Ocean Wealth. [online] Available at: https://oceanwealth.org/reef-adjacent-tourism/#:~:text=The%20Dominican%20Republic%20and%20Puerto.
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8. Annexures

8.1 Annexure A – Interview Guide (Tourism Industry experts)

1. Pls make a brief introduction about yourself?

2. How many years of experience do you have in this Tourism Industry

3. The main objective of our interview is to explore the importance of Eco-Tourism to Sri Lanka and new business opportunities in this industry. As an introduction to the discussion, I will first ask you a question like this

What is Eco-Tourism? Why this is so important in the modern world

4. Do you think eco-tourism can be a successful industry in a country like Sri Lanka?

5. In my research, I have seen that many countries in the world use ecotourism as a major tourist attraction in those countries. For example, Kenya and the Galapagos Islands have a large ecotourism industry. But the eco-tourism industry in Sri Lanka is at a very weak level. As you can see, what are the reasons for the lack of development of eco-tourism in Sri Lanka?

6. How does eco-tourism affect the rural economy and tourism in Sri Lanka?

7. Sri Lanka holds a special place in the world in terms of biodiversity. Do you think Sri Lanka will get benefit from this biodiversity? I mean do we use this biodiversity to generate income for the country

8. In your view, what other resources are available besides environmental resources to develop the eco-tourism industry in Sri Lanka?

9. In your view, what are the new economically and socially beneficial business opportunities that can be created in the tourism industry by utilizing the natural and social resources of Sri Lanka? Or what are the resources that have not yet been used to build business opportunities in Sri Lanka?

10. What are the benefits to the country if the eco-tourism industry is developed in Sri Lanka?

11. Sri Lanka's eco-tourism industry is one of the weakest in the world. There is less activity related to the eco-tourism industry in the country. What are the political, social, and financial issues that are directly contributing to the decline of the eco-tourism industry?

12. Describe how you feel the eco-tourism industry in Sri Lanka can be developed?

Thank you very much for your time. If you wish to learn more or choose to have your interview withdrawn from the study, you can contact me at any time.

8.2 Annexure B – Interview Guide (Entrepreneurship and Economy Experts)

1. Pls make a brief introduction about yourself?

2. How many years of experience do you have as an Entrepreneurship or Economic Lecturer / Consultant or Economic Specialist?

3. The main objective of our interview is to explore how the creation of new business opportunities in the Sri Lankan Ecotourism industry will affect the country's economic growth and unemployment. As an introduction to the discussion, I will first ask you a question like this

Are you happy with the current economic growth in Sri Lanka?

The reason for your answer?

4. Does unemployment affect the weakening of a country's economy?

5. If we look at the unemployment rate in the country from 2000 to 2020, the unemployment rate which was 11% in 2000 has now reached 5.4%. It is a very positive level, but the unemployment rate in Sri Lanka is once again rising at a time when the unemployment rate in other countries in the region is declining. What do you think are the factors contributing to the increase in the unemployment rate in the country?

6. A study of strategies to eliminate unemployment in the Asian region found that many countries are pushing people to start new businesses or to be self-entrepreneurs as a cure for unemployment. How do you think building new business opportunities or starting new businesses will help a country to eliminate unemployment?

7. In your experience, is the unemployment rate highest in rural areas? Or In urban areas?

8. Many countries in the world use tourism to grow their economies in rural areas. Eco-tourism, a sub-industry of tourism, today brings in a large income to the rural population of developing and poor countries. How does the development of a country's rural economy affect its GDP?

9. How does the emergence of rural entrepreneurs through eco-tourism based on a rural environment affect the economy of a country?

Thank you very much for your time. If you wish to learn more or choose to have your interview withdrawn from the study, you can contact me at any time.

8.3 Annexure C – Interview Guide (Entrepreneurs) 

1. Make a brief introduction about yourself?

2. What is the relationship between you and the Ecotourism industry? 

3. What is your vision about the Ecotourism industry? 

4. Do you think Sri Lanka is a good country for ecotourism? What is the reason for your answer? 

5. As an experienced entrepreneur in the ecotourism industry, you have a lot of experience so far. Based on that experience, what are the major political, social, and economic factors that entrepreneurs like you have to face directly, or have contributed to the declining number of entrepreneurs in this industry?

What is the reason for most of the youth not becoming entrepreneurs in the ecotourism industry? 7. In your experience, how easy is it to find business support and advice in the Sri Lankan ecotourism industry? 

8. What are the issues and difficulties you faced in your life while becoming an entrepreneur in this industry? 

9. In addition to political, social, and economic issues, what other issues do entrepreneurs face when they going to start a business? 

10. What do you think will be the future of tourism in Sri Lanka? 11. What advice would you give to an entrepreneur coming into the tourism industry in the future?

Thank you very much for your time. If you wish to learn more or choose to have your interview withdrawn from the study, you can contact me at any time.