Tourism Effects On Balance Of Payments
Tourism Effects on the Balance of Payments
Tourism is the most importance factor in the economic development. The importance of tourism for the economic activity in Nepal can be seen from the analysis of balance of payments in the period 2000-2012.
Table 3
Tourism Balance of Payments in Nepal
Year Total Tourism Income(Million US$) (A) Total Tourism Expenditure(Million US $) (B) Surplus or Deficits (Million US $)
Balance=A-B
2000 21.90 10.90 11
2001 19.10 12.80 6.3
2002 13.40 10.80 2.6
2003 23.20 11.90 11.3
2004 26.00 20.50 5.5
2005 16.00 22.10 -6.1
2006 15.70 26.10 -10.4
2007 23.40 40.20 -16.8
2008 35.30 54.50 -19.2
2009 43.90 52.70 -8.8
2010 37.80 52.80 -15
2011 41.50 42.00 -0.5
2012 37.90 56.10 -18.2
Total 355.1 413.4 -58.3
Source:
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Tourists contribute to sales, profits, jobs, tax revenues, and income of their destination. Primary, tourism sectors such as lodging, dining, transportation, amusements, and retail trade are affected directly. Through secondary effects, tourism effects most sectors of the economy. Bulter (2001) reported “The seasonality can affect both the tourism industry and other sectors. Their data shows the negative impact of seasonality is emphasized over the positive, but there is also a positive aspect regarding seasonality. Seasonality in tourism has several focal points which include the relationship of seasonality to demand and visitation, particular destination which is only focusing on seasonality. The effect of seasonality on employment and financial well-being of tourism has an impact on destination areas and policy …show more content…
It is forecast to rise by 5.0% per annum to NPR257.4 billion by 2024 (9.9% of GDP).
Employment Opportunities The total contribution of travel and tourism to employment (including wider effects from investment, the supply chain, and induced income impacts) was 1,112,000 jobs in 2013(7.0% of total employment). This is forecast to rise by 6.5% in 2014 to 1,184,000 jobs (7.3% of total employment).By 2024, travel and tourism are forecast to support 1,696,000 jobs (8.5% of total employment), an increase of 3.7%.
Foreign Exchange
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