In 2017, Rs. 17 billion has been invested in tourism

 Monday, April 2, 2018 

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NepalLast year, Nepal succeeded in drawing investments of around 17 billion in the tourism sector, as per the latest report.

 
The report, entitled Travel and Tourism Economic Impact 2018 issued by World Travel and Tourism Council (WTTC), highlights total investments in the sector was approximately Rs 17.3 billion in last year in comparison to Rs. 16.5 billion the year before.

 

In tourism sector, total investment was 2.3 percent of the total investments in the country.

 
The council calculates and expects that investments in the tourism sector of Nepal will increase by 7.6 percent this year and by 4.7 percent yearly in the next decade to reach Rs 29.4 billion in 2028.

 
Travel and tourism investment comprise investment activities in terms of buying aircraft, building hotels and investment in different activities related to tourism.

 
New investments have assisted creating 1,027,000 new job opportunities in the country of which 497,500 are in the tourism industry. The direct employment comprises employment opportunities created by hotels, travel agents, airlines and different passenger transportation services, and restaurants along with leisure industries. Last year, new jobs created by the tourism industry are 6.6 percent of the total jobs created in the same year.

 

In the year 2016, new investments had generated 945,000 jobs, comprising 427,000 people in the tourism sector.

 
As the government has been careful to tourism, agriculture and hydropower and declared them as the backbone of the economy of the country, increasing investment in tourism of the country is a positive sign for the economy, tourism entrepreneurs say.

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