Chinese investors bear the brunt of tourism slump
POKHARA, July 18:
Chinese investor Wu Yong Bin, who was preparing to open Hotel Hong Yuan in Pokhara when the earthquake jolted Nepal on April 25, is in a difficult situation.
"Interior decoration works were going on full swing when the earthquake struck. Though my hotel is ready now, I don't have the confidence to open it as all the Chinese tourists returned home after the earthquake and there are no signs of Chinese tourists coming to Nepal anytime soon," Bin added.
Bin, who has taken the 14- room hotel on lease for 10 years, has to pay Rs 250,000 per month as rent. "I have already spent Rs 25 million for maintenance and decoration. But I have not been able to formally open the hotel," Bin said, adding that it was becoming difficult to meet even the operating cost.
Not only Bin. Most of the entrepreneurs, who have invested in Chinese-themed hotels and restaurants in Lakeside, are facing problem as foreign tourists and domestic visitors barely enter these establishments. Chinese tourists are the major customers of these properties.
Bin, who has taken the 14- room hotel on lease for 10 years, has to pay Rs 250,000 per month as rent. "I have already spent Rs 25 million for maintenance and decoration. But I have not been able to formally open the hotel," Bin said, adding that it was becoming difficult to meet even the operating cost.
Not only Bin. Most of the entrepreneurs, who have invested in Chinese-themed hotels and restaurants in Lakeside, are facing problem as foreign tourists and domestic visitors barely enter these establishments. Chinese tourists are the major customers of these properties.
