Service sector at a loss: 2.3 billion revenue from tourism in five months, outflow of 11.41 billion

Kathmandu, January 18

The service sector is in deficit in the first five months of the current fiscal year. The service sector is under pressure as the outflows under this heading are larger than the income for the tourism industry.

According to Nepal Rastra Bank, Nepal has earned only Rs 2.30 billion from visits in the last five months. However, the expenditure has reached Rs. 11.41 billion.

Out of this, only Rs 9.71 billion has been allocated for education. However, the trend of travel income and expenditure during this period has been negative.

Tourist arrivals have declined amid the coronavirus pandemic. This has also affected travel income. However, in previous years during this period, the expenditure on travel and education was huge.

According to Nepal Rastra Bank, travel income has declined by 93.5 percent in the last five months. Travel expenses also declined by 63.5 percent in the first five months of the previous fiscal year. Expenditure on education also declined by 33.9 percent.

As of the first five months of the current fiscal year (July-December), 6,280 tourists have entered Nepal. The highest number of tourists came from the United States during this period. In five months, 1317 tourists have visited Nepal from the United States. There are statistics that 901 tourists have come to Nepal from the UK.

According to the department, 576 tourists came to Nepal from China and 431 from India. 303 tourists have come to Nepal from Turkey. 135 tourists have come to Nepal from Australia. Most European and American tourists come for hiking and trekking.