December 16:  Foreign investors have shown keen interest in the tourism sector of Nepal.

According to the data provided by the Department of Industry, foreign investors are mainly interested in the industrial sector followed by the tourism sector.

As of mid-November of the current fiscal year, 60 projects relating to tourism have been registered while 28 projects have been registered in the productive sector.  Although the number of the productive projects seems lower than that of the tourism sector, investors have committed Rs 6.613 for the productive sector whereas Rs 5.18 billion has been pledged for tourism sector, according to the department.

Compared to last year, both the number of projects and investment are expected to increase in this fiscal year. In the last fiscal year, tourism sector had received commitment for 157 projects worth Rs 4.79 billion.

The foreign investors seem to be attracted to the country after the government started considering tourism as the main contributor to the country’s economy.  

Amar Man Sakya, president of Hotel Association Nepal (HAN), said that the increase of investment in tourism is really a positive thing. He further said, “With the existing tourism infrastructure also, Nepal is capable to welcome a large number of tourists visiting the country. Foreign investors might have shown interest in tourism sector since the government has proposed ‘Visit Nepal Year 2020’.”

Likewise, Sunil Sakya, president of Nepal Chapter of Pacific Asia Travel Association, said the Visit Nepal Year 2020 and the increased inflow of tourists in the country are the reason for the growing attraction of foreign investors in the sector.