KATHMANDU, June 10 (Xinhua) -- Nepal spent more on travel abroad by its citizens than it earned from foreign visitors, the Nepal Rastra Bank said on Tuesday.
Money spent for travels abroad during the first 10 months of the current 2024-25 fiscal year more than doubled what Nepal gained from foreign travelers, the central bank said in a report.
The South Asian country spent 1.18 billion U.S. dollars during the period, mostly for study abroad by its nationals, whereas its earnings from foreign tourists stood at 524 million dollars.
As many as 112,967 Nepalis went abroad for education in FY 2023-24 and 92,648 had been approved for studying overseas by mid-March in FY 2024-25 ending in mid-July, according to the ministry of education, science and technology.
In contrast, only 30,797 chose to study abroad in FY 2014-15.
Nepal welcomed 1.14 million foreign tourists in 2024, according to the Nepal Tourism Board. ■
