The expenses incurred by Nepali students for foreign education in the first six months of the current fiscal year exceeded the income earned by the entire country from foreign tourists.

The latest report published by the Nepal Rastra Bank revealed that Nepalis spent more on foreign education that the income earned by the hospitality industry of the country.

According to the Macroeconomic and Financial Situation Report published by the central bank on Sunday, Nepal’s travel income increased 5.1 percent to Rs 41.86 billion in the review period. Such an income stood at Rs 39.82 billion in the corresponding period of the previous year.

However, the country’s travel payments also increased 9.7 percent to Rs 101.92 billion, including Rs 56.83 billion for education, added the report. Such payments stood at Rs 92.87 billion and Rs 58.95 billion respectively in the same period of the previous year.

According to the central bank, the country’s net services income remained at a deficit of Rs 43.53 billion in the review period compared to a deficit of Rs 35.43 billion in the same period of the previous year.