Gambling as a way to recover the economy, effective or not?

[kotajikikox]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

[Oshosondy]

This is not just only about gambling but tourism also. Tourists will not only go to the country for gambling but the $1.2 billion City of Dreams casino complex in Colombo will attract tourists which makes it still linked to gambling.

With what is said in the news, yes it will help the Sri Lankan economy.

[Moreno233]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

If their plan is to make the gambling industry robust to enable foreigners come into their country to gamble, it is a very good strategy and I commend the president that have this foresight. If he succeeds, foreigners will come into the country, book hotels, buy food, pay transport and use the countries services and all these will improve their economy. That is to say that apart from gambling, there are many other ways the visitors will be contributing to the economy of the country.

[Stepstowealth]

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

Although it is an unconventional method it can be effective to help revive the economy. The result of this move will not be seen immediately but in a few years time Sri Lanka may possibly become another tourist destination for gamblers depending on how the government make policies to favor casinos and other gambling businesses in the country. If policies become so favorable it can even be attractive for international casinos another gambling platforms to set up physical points in Sri Lanka to take advantage of the tourist gamblers who will be visiting the country.

For Locals, this will also increase jobs available to them.

[Free Market Capitalist]

Well, there are economies that are based on that, but at the micro level, in cities like Las Vegas or Macau. But around gambling, there is also a whole tourism and leisure industry, as Oshosondy has pointed out, with nightclubs, restaurants, and shows. So in principle, yes, it is possible but it's better if it's approached as a comprehensive plan.

[masulum]

With the potential for legal casinos, corporate taxes from casinos, and increased tourism, Sri Lanka has a significant opportunity to boost its economy. These sectors could create new jobs, increase state revenues, and attract foreign investment. However, behind these financial gains, there are serious threats to society. The presence of casinos can undermine social and moral values, especially among local residents. Those who initially had no interest in gambling could become addicted, even becoming uncontrollable. Instead of gaining economic benefits, society is facing new social problems, such as bankruptcy, debt, and other problem. Therefore, very strict policies are needed to ensure that economic gains from gambling do not lead citizens into debt due to the inability to control their gambling activities..

[Sim_card]

For the sake of tourism YES, it will help boost their economy in future. It will be beneficial to the economy because revenue less will be gotten and government will regulate casinos and make sure that there's no illegal gambling in the country. It's a good way to promote gambling.

[Davidvictorson]

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

Monaco is one country that comes quickly to mind. Sri Lanka will need more than gambling and gambling cannot do it alone. Also for this to be effective they must ban their citizens from gambling. Gambling should only be for foreigners. And since tourism is a part of their strategy that sector of the economy must also be revived.

[freedomgo]

If their target market isn’t the locals, then I think it can help. All they really need to do is lower the gambling taxes so more operators will come to the country and turn it into a hub for offshore casinos.

It already happened in the Philippines when POGO entered. The taxes were huge, but the problem was it wasn’t regulated properly because of corrupt officials, especially the regulators. That’s what pushed the president to stop the operations after so many cases of crimes were reported within the industry.

[joeperry]

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

Honestly in our country gambling is one of the sectors that gives the government high profit, so I wouldn't surprise if this will help their failing economy. There's a lot of gamblers in India and China and that market alone could help their economy and let's say they became successful and they managed to get know, I'm pretty sure even the neighboring countries would be attracted not only for playing and players but possibly make a lot of proposal and investments to their country.

We're not sure what happened, and I'm sure they study it first before they propose it but only time could tell if it will be effective or not.

[Fortify]

Does anyone know what the gambling scene is like in that area of the world? Maybe they've identified a valid strategy but I wonder how they are going to get enough people into the casinos as there are many other places dedicated to gambling if someone wants to do that. Tourists go to Sri lanka to chill on the gorgeous beaches, they might divert a little bit of their spending on gambling. Maybe targeting the Chinese tourist that has limited options at home or wants to avoid political risk is a smart idea. India is also getting increasingly richer in part because it has a large IT worker base, so perhaps it'll work if they've done the research. They'll definitely need to market it carefully.

[swogerino]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

That doesn't work unless Sri Lanka becomes a new Las Vegas or a new Macau to really attract tourists that love gambling. In Las Vegas all economy of that state is supported by casinos and adult film industry as the main providers, roughly 80% of the revenue in that state. I doubt Sri Lanka can become such state and also I can see that probably China people would not directly try and come to gamble here with big amounts, maybe some of them will test the water and spread the news if they have positive results though if they see this as a good step toward reviving the economy and they have the means to apply what they are saying they should definitely go ahead and try, trying costs nothing like they say. The countries who have banned gambling have no seen real prosperity, I can tell you as I live in one of them where gambling was completely shut in 2019, the economy was shit there, it is even shittier now.

[giorgione]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

That doesn't work unless Sri Lanka becomes a new Las Vegas or a new Macau to really attract tourists that love gambling. In Las Vegas all economy of that state is supported by casinos and adult film industry as the main providers, roughly 80% of the revenue in that state. I doubt Sri Lanka can become such state and also I can see that probably China people would not directly try and come to gamble here with big amounts, maybe some of them will test the water and spread the news if they have positive results though if they see this as a good step toward reviving the economy and they have the means to apply what they are saying they should definitely go ahead and try, trying costs nothing like they say. The countries who have banned gambling have no seen real prosperity, I can tell you as I live in one of them where gambling was completely shut in 2019, the economy was shit there, it is even shittier now.

There are no states that are able to make this kind of speech because the economy has always been like this, it is a city born on gambling which did not exist before, it expanded because there were people who gambled and gambled, creating casinos and other infrastructures for them, and that is why it expanded, I understand that places like this which are already industrialized will hardly be able to change their essence

[Dave1]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

Isn't it we have Macau as a good example on how their turn their economy, with jobs and tourist spots and hotels and entertainment from gambling? Other countries might need to look at their program on how they become a successful nation that really take advantage of gambling.

So maybe we can see Sri Lanka making some ways to revived their economy. Although I know that during the pandemic, the Philippines as well turn into online gambling to raise capital. However, it turn out bad for them as there have been killings and POGO's and the whole nation being addicted to a game called "Scatter".

[Yaunfitda]

If their target market isn’t the locals, then I think it can help. All they really need to do is lower the gambling taxes so more operators will come to the country and turn it into a hub for offshore casinos.

That is the one strategy that Singapore uses, they don't want their locals to be addicted and so they raise like having to show money when you are a Singaporean before you can play so that they discourage them. For Sri Lanka that should be the case as well. But I wonder if they are a tourist spot for gamblers to travel and play on their casinos.

It already happened in the Philippines when POGO entered. The taxes were huge, but the problem was it wasn’t regulated properly because of corrupt officials, especially the regulators. That’s what pushed the president to stop the operations after so many cases of crimes were reported within the industry.

Yes, when corruption enters the picture, it will truly ruined everything. Maybe the former President Duterte has all the good intentions that whey he allowed POGO and online cockfighting. But when he left, everything goes wild, no central authority to held anyone responsible that's why gambling just create more problems in the Philippines instead of raising billions of money from tax alone to help the Filipinos.

[rbynxx]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

Not gonna doubt if that's the way they want to revive their economy but I think one way or another that's a way to collect taxes. I think Sri Lanka need to improve their tourism as well if they want to attract more investors because tourism and gambling complement to each other as well as jobs. I think I'll visit Sri Lanka considering it's not that far from my country and they got definitely a cheaper fare price l, but to gamble that's unlikely, maybe just a simple visit on a casino would do.

[Ziskinberg]

They really need to make a drastic move because you can’t deny gambling is a big revenue driver for a country. They could attract foreign operators from places where gambling is restricted. The best example would be China, since gambling is illegal there and with their huge population and strong economy, that market is massive. Operators could use another country as a base since the law there would allow it.

I’m not sure which countries are already doing this, but if we’re talking about the gambling industry, it’s profitable, so it would be a great decision.

[Taskford]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

I think what they mean in that article is the possibilities to get huge taxes from the gambling operators in their country. If that is what they are really pointing out then yeah gambling actually could help their economy to recover since they could get lots of taxes from those industries.

But they should do proper regulation to those who would like to enter in their country and much better if they invite those off shore operators and make sure that their clients base is from other country so that they will not affect the lives of their citizens and the operator can smoothly operate their business and target those people who live outside of their country.

[Slow death]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

My country's government also launched a campaign a few years ago to encourage casinos, betting shops, and gambling companies to invest in my country to boost tourism. When I look back today and compare it to five years ago, I see that the results were very positive. This was the only good thing my country's government did. Many casinos and betting shops came to my country, creating jobs, boosting tourism, paying taxes, and sponsoring many events and sports.

Many hotels, restaurants, shops, and homes have sprung up near the casinos. This helps the economy. I think it was a good measure and could work in Sri Lanka, but I need to make an important point that the Sri Lankan government should consider: not creating religious barriers for casino owners, betting shops, and even people who want to gamble. My country is predominantly Christian, so the government legalized gambling, and Muslims had to accept it without complaint. They are free not to want to play, but they cannot stop other people from playing in my country.

[bakasabo]

While some countries ban gambling and people are worried how to stop spread of gambling addiction, others open door wide for gambling and improve their economy with gambling taxes, tourism and investments in infrastructure around casinos. How this is possible? One party are against gambling, other party welcome it with a smile. I dont think that Sri Lanka government is so reckless and want to drawn country in debts, addicted gamblers and financial problems.