‘Tourism Satellite Account Will Come into Use from Next FY’

  202 times read   1 min 55 sec to read
‘Tourism Satellite Account Will Come into Use from Next FY’

July 9: The government is planning to use the tourism satellite account (TSA) in order to find out the actual contribution of tourism sector to the Gross Domestic Product (GDP) of the country. Currently, the contribution of tourism sector to the GDP is 2.8 percent only. With the use of the new system, it is estimated that the contribution of the tourism sector will increase to 8 percent.

The government is ready to set up the TSA with the technical and financial support from United Nations World Tourism Organisation (UNWTO) and United Nations Development Programme (UNDP). TSA was included in the report prepared by the government to unveil the main works to be performed by the present government within 100 days since its formation.

The Ministry of Culture, Tourism and Civil Aviation said that Nepal Tourism Board is working to use the new system from the upcoming fiscal year.  According to the Chief Executive Officer of the board, Dipak Raj Joshi, the work is being done with the financial support of Rs 5 million from UNDP.

“Most of the data are already collected. Primary works will be done by this fiscal year while this system will be implemented from the upcoming fiscal year,” said Joshi.

At present, all the indicators of tourism sector are not calculated in the GDP.  According to World Tourism Council, tourism sector has generated employment opportunity to around 500,000 people in Nepal, which is 3.2 percent of the total employment in the country.

 

Related Post

Market Update 14 October 2019

Market Update 14 October 2019

Nepal, China Sign 18 Agreements

Nepal, China Sign 18 Agreements

Dashain Concludes

Dashain Concludes

No comments yet. Be the first one to comment.