Tourism earnings down by 18%

Kathmandu December 20- Nepal’s tourism earnings fell 18.1 percent in the first four months of the fiscal year due to a sharp drop in the arrivals of international visitors as the acute fuel crisis prompted travelers to defer their planned trips.

According to Nepal Rastra Bank statistics, the earnings for the period between mid-August and mid-November stood at Rs12.89 billion, less by Rs2.90 billion compared to the earnings in the same period last fiscal year. In last fiscal year 2014-15, the country had earned Rs53.42 billion in tourism revenues.

Foreign exchange earnings from tourism come from airport service charges, hotels and travel agencies. Foreign currencies exchanged by money changers are also included in tourism earnings.

 
The central bank said the tourism sector that remained almost inactive after the
earthquake was further been affected by the prolonged Tarai unrest and highway obstructions.
“In the review period, the occupancy rate of hotels remained very low due to scanty tourist arrivals and their short stay. Road and air traffics have been affected due to severe fuel shortages,” the NRB said. “These developments are likely to act as a headwind to the growth in the service sectors.”

According to the Finance Ministry, tourist arrivals plunged 46 percent in the first 10 months (January-October) of the fiscal year as a series of disasters pounded Nepal’s tourism sector.
According to a report prepared by the ministry, Nepal lost 352,330 tourists during the review period, hitting foreign exchange earnings and jobs. The country received 300,325 foreign visitors until October, down from 652,655 in the same period last year.