Gamani Corea Foundation

Gamani Corea Foundation Gamani Corea Foundation is an autonomous non Profit institute to promote economic research

The Gamani Corea Foundation (GCF) is an autonomous, non-profit research institute dedicated to advancing economic develo...
30/08/2026

The Gamani Corea Foundation (GCF) is an autonomous, non-profit research institute dedicated to advancing economic development, with particular focus on Sri Lanka. The Foundation was set up by Dr. Gamani Corea, former Secretary-General of the United Nations Conference on Trade and Development (UNCTAD). The GCF Research Grants Scheme aims at promoting innovative economic and multidisciplinary research to promote economic development in middle and low-income countries with special reference to Sri Lanka. Two rounds of research awards have been conducted since 2024. As in the past, the third round of GCF Research Grants will prioritize economic research, while accommodating multidisciplinary research that complements economics with knowledge from other social sciences, management, humanities, mathematics, statistics, computer science, or any other relevant discipline.

Sri Lanka is home to one of the world's richest cultural and historical heritages. From ancient cities and royal palaces...
28/08/2026

Sri Lanka is home to one of the world's richest cultural and historical heritages. From ancient cities and royal palaces to temples and archaeological sites, the country preserves more than 2,500 years of history. These remarkable landmarks not only reflect Sri Lanka's past but also have the potential to attract visitors from around the world.
This study focuses on four of the country's most important heritage sites:
Anuradhapura
Polonnaruwa
Sigiriya
Dambulla
These UNESCO-recognised cultural treasures are among Sri Lanka's most popular tourist destinations and hold immense archaeological, historical, and cultural value.
As Sri Lanka works to recover from its recent economic crisis, tourism has become an increasingly important source of income. Heritage tourism, in particular, offers an opportunity to create jobs, support local businesses, and stimulate regional development while showcasing the country's unique history and culture.

However, increasing visitor numbers also brings new challenges. Poorly managed tourism can damage ancient monuments, reduce the authenticity of cultural sites, and place pressure on local communities. There are also concerns that tourism revenue is not always used effectively to improve surrounding areas or support heritage conservation.
For tourism to be truly sustainable, it must strike a balance between protecting Sri Lanka's archaeological treasures, supporting local communities, and creating long-term economic benefits. This requires careful planning, responsible management, and a better understanding of the social and cultural importance of these heritage sites.

Although many studies have explored the relationship between tourism and economic development in Sri Lanka, little research has examined how heritage conservation and regional development can be achieved together.

This study aims to fill that gap by exploring how the ancient heritage sites of Anuradhapura, Polonnaruwa, Sigiriya, and Dambulla can be protected while also promoting sustainable tourism, strengthening local economies, and improving the livelihoods of surrounding communities. The findings will help guide future tourism policies that preserve Sri Lanka's cultural heritage while supporting inclusive and sustainable economic growth.
Access this GCF funded study - https://acesse.one/sqt4jkl

A joint GCF- SLEA Seminar, part of a series of collaborative seminars, was held on August 20th, at the GCF. "Influence o...
21/08/2026

A joint GCF- SLEA Seminar, part of a series of collaborative seminars, was held on August 20th, at the GCF.
"Influence of Political Patronage Networks and Clientelism on Resource Allocation, Public Spending, and Economic Disparities Across Sri Lanka"

Sri Lanka has enormous potential to generate clean energy from natural resources such as sunlight, wind, and water. The ...
20/08/2026

Sri Lanka has enormous potential to generate clean energy from natural resources such as sunlight, wind, and water. The country has set ambitious goals of producing 70% of its electricity from renewable sources by 2030 and achieving carbon neutrality by 2050.

Expanding renewable energy is not only important for protecting the environment but also for reducing Sri Lanka's dependence on imported fossil fuels, which have become increasingly expensive and have contributed to foreign exchange shortages.

In recent years, Sri Lanka's energy sector has been changing rapidly. While hydropower continues to play a major role, the country has also seen significant growth in rooftop solar systems, large-scale wind farms, and mini-hydropower projects. Together, these technologies could help provide cleaner, more reliable, and more affordable electricity.

However, developing renewable energy is about more than reducing carbon emissions. New projects must also be financially worthwhile for investors and acceptable to the communities where they are built. Understanding these economic and social factors is essential for the successful expansion of renewable energy.

This study examines three important renewable energy options in Sri Lanka:

Rooftop solar power, to assess whether it is a financially attractive investment for households and businesses.
The Thambapavani Wind Farm, to understand how local communities view large-scale wind energy projects.
Three proposed mini-hydropower sites, to evaluate both their technical potential and the opinions of nearby residents.
This GCF Funded study can be accessed: https://acesse.one/ynhd1fj

Is Sri Lanka's Social Security System Protecting Its Elderly?Sri Lanka's population is ageing rapidly. In 1981, there we...
11/08/2026

Is Sri Lanka's Social Security System Protecting Its Elderly?

Sri Lanka's population is ageing rapidly. In 1981, there were about one million people aged 60 and above, making up just 6.6% of the population. By 2012, that number had grown to 2.5 million (12.4%), and by 2031, it is expected to exceed 4.5 million—around one in every five Sri Lankans.

Traditionally, older people in Sri Lanka have relied on their families for financial and emotional support. However, smaller families, migration, and changing lifestyles mean that many elderly people can no longer depend on this support. At the same time, a shrinking working-age population is placing greater pressure on the country's economy and welfare system.

Sri Lanka has several social security programmes to support retired people. These include the government pension scheme, the Employees' Provident Fund (EPF), the Employees' Trust Fund (ETF), and several pension schemes for private sector and informal workers. However, these programmes do not provide equal protection for everyone.

Government pensions offer a regular income for life, but they are available mainly to public sector employees. Meanwhile, EPF and ETF members receive a one-time lump sum payment at retirement, which is often not enough to cover living expenses over many years. Pension schemes for informal sector workers also have low participation, leaving many older people without adequate financial support.
Recent challenges, including the COVID-19 pandemic and Sri Lanka's economic crisis, have placed even greater strain on the country's social security system. Many elderly people continue to struggle with healthcare costs, poor nutrition, housing insecurity, and social isolation. At the same time, international organisations such as the International Monetary Fund (IMF) have stressed the importance of protecting vulnerable groups while the country implements economic reforms.

This study examines how different social security programmes affect the wellbeing of older people in the Kalutara District. Rather than looking only at income, the researchers assessed both objective wellbeing (such as financial security, health, and living conditions) and subjective wellbeing (such as life satisfaction and personal happiness).
The study also used advanced research methods to compare the wellbeing of people enrolled in different pension schemes with those who receive no pension at all.

This GCF funded research can be accessed: https://acesse.one/zy1hyiy

The Gamani Corea Foundation was pleased to partner with the launch of Rev. Prof. W. Wimalaratana, books;Debt Crisis in S...
07/08/2026

The Gamani Corea Foundation was pleased to partner with the launch of Rev. Prof. W. Wimalaratana, books;
Debt Crisis in Sri Lanka: Facts and Fallacies (co-authored with Dr. Mahinda Pushpakumara) , 64 Wounds that Crippled the Sri Lankan Economy, and
ශ්‍රී ලංකාවේ සංවර්ධනය අඩපණ කළ තුවාල 64 (Sinhala translation)

Geotourism is a type of tourism that encourages people to enjoy and learn about nature without damaging it. Instead of s...
31/07/2026

Geotourism is a type of tourism that encourages people to enjoy and learn about nature without damaging it. Instead of simply attracting visitors, geotourism aims to protect natural landscapes, geological formations, cultural heritage, and local communities so they can be enjoyed by future generations.

It focuses on places with special geological features, such as unusual rock formations, caves, volcanoes, mineral springs, and other natural landmarks. These locations, known as geosites, are protected while also being promoted as tourist attractions. Larger areas that contain one or more geosites are known as geoparks.
Sri Lanka is well suited for geotourism because of its rich natural beauty, ancient rock formations, unique landscapes, biodiversity, and cultural heritage. The country's geological attractions offer visitors the chance to experience nature while learning about the history of the land.

Geotourism also benefits local communities. By attracting visitors in a responsible and sustainable way, it can create jobs, support local businesses, and encourage communities to protect their natural environment. This creates a win-win situation where both tourists and residents benefit.

Despite Sri Lanka's rich geological heritage, geotourism has received relatively little attention. Previous studies have suggested that the country has strong potential to develop geoparks and geosites, particularly in rural areas where tourism could provide new economic opportunities. Proper management of these sites is important to ensure they are protected from damage while providing visitors with meaningful educational experiences.

This study examines the geotourism potential of six important geological sites in Sri Lanka:
• Jathika Namal Uyana (including the Rose Quartz Mountain)
• Sigiriya Rock
• Dambulla Golden Temple
• Nilavarai Bottomless Well
• Keerimalai Sacred Water Springs
• Nildiya Pokuna (Underground Water Pond)

The researchers used a recognised assessment method that gathered opinions from both tourism experts and visitors to evaluate each site's strengths and potential for future development.

The findings will help policymakers and tourism authorities identify opportunities to expand geotourism in Sri Lanka. Developing these sites responsibly could boost tourism, protect the country's unique geological heritage, and improve the livelihoods of local communities through sustainable economic development.
This GCF funded research can be accessed here - https://acesse.one/hr3lxo6

27/07/2026

A clip from Ada Derana news, highlighting the joint GCF-SLEA Public Lecture

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