Hotel Sector sees increment in Foreign Investment, as VNY 2020 approaches
November 8, 2019 | Investopaper
As Visit Nepal Year 2020 approaches, foreign investment has grown in the hotel sector of Nepal.
A total foreign investment of Rs. 5.77 Arba has already been made through 39 hotels and restaurants in the first three months of the fiscal year 2076/77. As per the Department of Industry, the hotel sector has seen a 100 percent growth in foreign investment as compared to the previous fiscal year.
During the first three months, a total of 82 enterprises were registered with the tourism industry (hotel and restaurant) occupying the top spot with 39. The production sector is second with 20 enterprises registered.
Chinese investors seem more keen to invest in the hotel and restaurant business. Out of the total 39 businesses registered in the 3 months period, Chinese investors have made a commitment to invest in 36 of those hotels or restaurants. The total investment committed by the Chinese is Rs. 7 Arba. in the hotel sector.
