Nepalese Hotel Industry - An overview by Care Ratings Nepal

Tue, May 19, 2020 1:16 PM on Economy, Latest,
Nepalese H...

The Nepalese hospitality industry along with tourism continues to be one of  the  key  segments  driving  the  growth  of  the  services  sector  in  the Nepalese  economy.  Currently,  Nepalese  economy  ranks  101th in  the world  in  terms of GDP as of FY19 as per IMF (2019 estimates).Travel and tourism  sector contribute about  US$ 8.9  trillion (y-o-y  growth  of 3.5%)  as  per  World Travel & Tourism Council‟s (WTTC), providing employment to about 330 million persons in 2019 globally. Also,travel & tourism industry earns an average of 25% of the total foreign exchange for the country.

In  the  study,  CARE  Ratings Nepal has analyzed the Nepalese hotels  & tourism industry for the past years to see the changes it has gone through and  to  understand  the  major  factors  affecting  the  industry  in  terms  of demand  and  pricing.  The  industry  has  been  viewed  in  comparison  to other SAARC countries as well.

 

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