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Forex earning in tourism

With tourist arrivals in the country in 2014 going down, the growth of foreign exchange income from tourism also decreased as of Mid-May of the current fiscal year 2014-15. According to the Nepal Rastra Bank (NRB), foreign exchange earnings from tourism sector during the first 10 months of the current fiscal year increased by Rs6.32 billion against the rise of Rs 10.54 billion during the same period last fiscal year. Overall income from the sector, however, witnessed a slight growth. The record shows that the county earned Rs45.58 billion during the first 10 months of the fiscal year. which is growth from Rs39.26 billion earned during the same period in the fiscal 2013-14. During the same period in fiscal year 2012-13, foreign exchange earnings from tourism sector was Rs28.72 billion. This also reflects decline in tourist’s arrivals in 2014 by air. Nepal received 585,981 tourists in 2014 which is 0.3 percent lower than the figure of 2013 on year to year basis. The massive decline of visitors from India resulted in overall decline of the visitors, despite impressive increase in the arrivals from China in 2014. Indian arrivals decreased by 34 percent while Chinese arrivals surged by 53.2 percent. India is the largest source market for Nepal’s tourism industry. The situation has further worsened following recent earthquake during one of the country’s main tourist seasons. Following the deadly earthquake of April 25 and subsequent aftershocks, many aspirant visitors to Nepal cancelled their planned trip to Nepal. According to Post Disaster Need Assessment (PDNA) report, nine in every 10 tourists cancelled their planned visit to Nepal. According to the PDNA, tourism industry is second hardest hit area by the earthquake after housing and human settlement with damages and economic losses faced by the tourism sector amounting to a massive Rs81 billion. In terms of business losses only, the sector tops with loss amounting to Rs62 billion over the next two years. The Great Earthquake of April 25 and subsequent aftershocks damaged five out of the seven World Heritage monuments within the Kathmandu Valley World Heritage Site and affected popular trekking routes. “Based on low and no seismic activities over the coming months, tourism can rebound somewhat by autumn and strongly by next spring’s climbing season,” the report states. Related News. 40 tourism professionals get 6-month Chinese language course. Elephant Fest kicks off in Chitwan. Thai royalty pays homage to Buddha’s birthplace Lumbini. Paragliders with foreign passengers falls into Fewa Lake, no one hurt. Nepal marks 38th World Tourism Day with fanfare. Comment. Recent News. Indian foreign minister in Nepal for two-day visit. Chinese contemporary art exhibit in Kathmandu. Nepal condemns terror attack in Afghan capital. Nepal’s policy on hydro development friendly: Experts. Editorial and Marketing Enquiries. © 2015 Travel News Nepal, a division of Bedrock Communications Pvt Ltd. TOURISM FOREX EARNINGS. Forex revenue from tourism touches $27.7 bn in 2017: Eco Survey. As per the provisional data of Ministry of Tourism, foreign tourist arrivals (FTAs) stood at 10.2 million during 2017, a growth of 15.6 per cent. 29 Jan, 2018, 04.55PM IST. European shares claw back declines, results hit Ericsson, H&M. The pan-European STOXX 600 gained 0.2 per cent by 0830 GMT. 31 Jan, 2018, 04.07PM IST. Blowout in bond yields rattles Asian stocks, buoys euro. Yet rising US yields have failed to prop up the dollar index, which paused around a t. 2 Feb, 2018, 08.18AM IST. Rupee fails to exploit bullish growth forecast, down 3 paise. After touching a low of 63.62 in early trade, the domestic unit bounced back sharply to hit a session of 63.48 before retreating sharply. Rupee climbs to new 1-week high, up 9 paise at 63.69. Massive inflows of foreign funds into equities and debt further bolstered the forex sentiment. Asia stocks off record highs as Wall St flags, dollar firms on higher yields. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.1 per cent. Hospitality sector sees more revenues, profit in 2018. The past year saw the start of an uptrend in the hospitality sector, but was also marked by multiple challenges like curbs on liquor sale and the GST rollout. Rupee rebounds 16 paise to 63.88 against dollar. The rupee had suffered its biggest single-day fall in eight months on Tuesday. Rupee continues uptrend, ends at 63.86 vs dollar. It resumed marginally positive at 63.85 against its previous close of 63.88 on the back of dollar inflows. Rupee breaks 3-day rally, down 3 paise at 63.87 a dollar. Trading was extremely volatile as the market witnessed wide swings against the backdrop of US govt shutdown. Bullish exporters hedge rupee for longer term. “Many companies are now looking at long-term forwards, expecting a stable rupee,” Rupee surges to one-week high, up 14 paise against dollar. Steady unwinding of dollars by banks and corporates supported the rupee upmove. Why MOSL’s Yogesh Mehta is gung-ho on this theme in 2018. “Traction in IT is getting better and better after two years of dull environment.” Asia stocks touch record highs after Wall St surge, dollar edges back. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.2 per cent higher. Rupee drops 6 paise to 63.66 on dollar buoyancy. Forex traders moved cautiously ahead of the IIP data for November. Copyright © 2017 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service. Forex earnings through tourism register double-digit growth. By Pramod Thomas | Express News Service | Published: 22nd May 2017 05:46 AM | Last Updated: 22nd May 2017 05:46 AM | A+ A A- | Share Via Email. KOCHI: Foreign exchange earnings (FEE) through tourism in India in the first three months of 2017, in dollar terms, have shown a double-digit growth, for the first time in two years. The major reasons for this change are increase in footfalls due to vis-on-arrival facility, large number of business travellers and lower base in the past few years. FEE during January-March 2017 period was $6.907 billion with a growth of 15.4 per cent compared to $5.986 billion with a growth of 6.8 per cent in the January- March 2016 over January- March 2015. The data from the Ministry of Tourism shows that the foreign tourist arrival into the country during the first quarter of 2017 was 28.45 lakh with a growth of 13.4 per cent over same period last year. During January- March 2017, a total of 4.67 lakh tourists arrived on e-Tourist Visa compared to 3.21 lakh during January-March 2016. Industry players see this as a positive trend. “The tourism sector in the country, in general, was going through a tough time in the past two years. In 2017, from the initial signs it is evident that a revival is happening. Visa-on-arrival facility, now extended to over 160 countries, has played a crucial role in this shift. Going forward the industry expects that the tourism scenario in the country will change for the better,” said Abraham George, managing director, Intersight Tours and Travels, and member of Kerala government’s Tourism Advisory Committee. The UK, the US, Russia, France, China, Germany and Canada are the biggest beneficiaries of the e-visa facility offered in the country. According to the data, the growth rate in FEE in dollar terms in March 2017 over March 2016 was 15.8 per cent compared to 9.8 per cent growth in March 2016 over March 2015. FEE via tourism in Indian currency was Rs 46,310 crore with a growth of 14.6 per cent. “As the investment climate is favorable now, many business travelers are coming to the country. All these have contributed to the positive change,” said Thomas C Thottathil, vice-president, corporate communications, Cox and Kings. Foreign exchange earnings from tourism in India 2012-2017, by month. Premium statistics. Industry-specific and extensively researched technical data (partially from exclusive partnerships). Foreign exchange earnings from tourism in India from 2012 to 2017, by month (in billion U.S. dollars) Exclusive Premium Statistic. Exclusive Premium statistic. Get a Premium Account for unrestrained access. Benefits of our Premium membership: Access to all Premium statistics Download as XLS, PNG and PDF Detailed source and background information. Access to this and all other statistics on 80,000 topics from. Exclusive Premium statistic. Get a Premium Account for unrestrained access. 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