Hospitality Sector of Nepal Sees Rs 14.73 billion Commitment in 5 Months

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Hospitality Sector of Nepal Sees Rs 14.73 billion Commitment in 5 Months

December 12: Foreign and domestic investors have committed Rs 14.73 billion in the hospitality sector of the country in the first five months of the current fiscal year. As of first week of December 2019, investors have registered 63 hotels, restaurants and casinos in Nepal with the Department of Industry.

Among them, 52 are foreign investors and 11 are from within the country.

Most of the investors have chosen tourist destinations like Pokhara and Kathmandu for investment.

According to the data provided by the department, a total of 44 hotels are in the making in Kathmandu, eight in Pokhara, five in Lalitpur, 2 in Chitwan, and one each in Rupandehi and Bara.

A casino each will be established in Jhapa and Banke with investment of Rs 250 million.

Hotel Association Nepal (HAN)’s First Vice President Binayak Shah says investors look for good return and security of their investment before pouring in money.

“Kathmandu is an ideal place for investment from all angles,” said Shah, adding, “There is also a need to invest in other areas. But first of all, the government must make clear policy for this.”

Although the government has claimed that there is tourism-friendly environment across the country, most of the investors have chosen Kathmandu.

Restaurant and Bar Association Nepal (REBAN)’s Chairman Arniko Rajbhandari says investors are interested in put in their money in Kathmandu due to the increasing “restaurant culture” in Nepal.

“The number of people visiting hotels and restaurants has increased due to the change in lifestyle of the people,” he said.

Although hotels and restaurants used to target mainly foreign tourists until some years ago, entrepreneurs have now started targeting domestic tourists.

 

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