Hospitality Sector to Contribute 2.05 Percent to Country’s GDP

April 26: The hospitality sector of Nepal is expected to contribute 2.05 percent of the country’s Gross Domestic Product (GDP), according to a report published by the Central Bureau of Statistics (CBS).

The National Accounts Statistics of CBS shows that the Gross Value Added (GVA) is estimated to grow by 9.77 percent in the current fiscal in comparison to the corresponding period of last FY.

Last year, the hospitality sector had contributed 1.98 percent to the GDP. The improvement of the sector was possible because of increase in tourist inflow, promotion of internal tourism with campaign like ‘Internal Tourism Year’, smooth operation of hotels and restaurants as a result of reduced load-shedding hours.

According to the statistics of the Ministry of Culture, Tourism and Civil Aviation, a total of 940,218 tourists visited Nepal in the FY 2017/18 while 538,970 and 753,002 tourists had visited Nepal in FY 2015/16 and 2016/17 respectively.