Nepal Allocates Mega Budget To Push Tourism

The government of Nepal has unveiled the budget for the fiscal year 2024-25. The budget was unveiled by finance minister Barshaman Pun, under which around NPR 12 billion have been set aside for the Ministry of Culture, Tourism, and Civil Aviation.

New Tourism Budget

According to the announcement made by the finance minister, a total of NPR 11.91 billion will be given to the Ministry of Culture, Tourism, and Aviation as the country plans to welcome at least 1.6 million tourists in the year. The government is also working on plans to “facilitate foreign tourists who come to Nepal for wedding ceremonies in a bid to promote various cultural and tourist destinations within the country as wedding destinations,” reported The Kathmandu Post. New hotels and resorts are in pipeline to accommodate the influx of tourists, and better roadways, electricity, and water facilities will be provided to hot tourist spots and places. A particular portion of the budget, around NPR 5.46 billion, will be used to improve tourism infrastructure and establish tourist rescue centres in potential risk-prone areas.

According to a report by Nepal Tourism Board dated December 2023, over 10 lakh foreign tourists visited the country in the first six months of 2023. The highest influx was seen from India, followed by USA and China.

The budget announced by the government for the year totals NPR 1.86 trillion, of which NPR 1.26 trillion will be generated from revenue, NPR 330 billion from internal loans, NPR 217 billion from external loans, and NPR 52.3 billion from foreign grants.