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Sri Lanka
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Sri Lanka
Sri Lanka, with a GDP of $84.4 billion, holds the 74th position globally. Key industries include rubber, tea, and textiles. The country's relatively stable working population supports a balanced labor market. With an unemployment rate of 6.4%, there are moderate challenges in job availability. The recruitment industry is evolving.
Sri Lanka'S
AGENCY LANDSCAPE
500
Agencies operating in Sri Lanka
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
Sri Lanka'S
FEATURED AGENCIES
Adecco Group
Bershaw Consultancy
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Sri Lanka'S
GROSS DOMESTIC PRODUCT (GDP) RATING
74
WORLD RANKED
Sri Lanka ranks 74th in the world by current economic output
$84B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
17
APAC RANKED
Sri Lanka is the 17th biggest GDP in APAC out of 41 countries in the region
GDP GROWTH (%)
The above chart compares how Sri Lanka's GDP has grown, compared to the rest of the world and the APAC region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Sri Lanka'S
CURRENCY AND CODE
SLRs
Country currency
LKA
Country ISO code
Sri Lanka'S
INFLATION RATE
45.2%
CURRENT RATE
▲39.2% INCREASE
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Sri Lanka'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Sri Lanka'S
LABOUR STATISTICS
22M
POPULATION
With a population of 22,156,000, Sri Lanka is a medium sized country by global standards. Sri Lanka's youth population is close to the world average, suggesting a consistent influx of new workers, but may not see any significant growth. The working population in Sri Lanka is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Sri Lanka's elderly population is close to the world average, suggesting a manageable dependency ratio, where the working-age population can effectively support the elderly.
Sri Lanka'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Sri Lanka'S
UNEMPLOYMENT RATE
6.4%
CURRENT PERCENTAGE
▲0.03% INCREASE
Sri Lanka has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a small increase in unemployment, suggesting continued economic stability, with a slight dip in job availability
Sri Lanka'S
TOP PERFORMING INDUSTRIES
Top industries
Tourism
Clothing and textiles
Tea
Sri Lanka'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
72
/
32
Male | Female
In Sri Lanka there is a large gap in participation rates between males and females, indicating significant structural or cultural barriers preventing more equal gender parity.
Sri Lanka'S
WORKING LIFE
25DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Standard work hours are 8 hours/day, 40 hours/week, with a possible 45-hour week including Saturday. Overtime, capped at 12 hours/week, requires employer approval and pays 150% of the hourly rate; it's not included in salary.
Sri Lanka'S
TOP BENEFITS
84DAYS
Maternity leave
Maternity: 84-day paid leave, 14 pre-birth. Full salary paid by employer; no legal extension. Paternity: 7-day paid leave is best practice, not law. Parental: No legal provision in Sri Lanka.
7DAYS
Sick leave
Sick leave is not legally mandated, but employees can use their 7 days of casual leave for illness. Further paid sick leave is possible if mutually agreed upon with the employer.
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