Tourism as tool for economic development: A case study of nepalese tourism industry

This paper attempts to highlight the growth and economic perspectives of the Nepalese tourism industry. It has been found that Nepal has bright future prospects in the tourism industry, with popular tourist destinations including Mount Everest, Annapurna, Kanchenjunga, Pashupathinath, Khaptad Ashram, and Langtang. Both hard and soft adventure tourism are possible in Nepal, and various levels of government are allocating budgets for the development of tourist sites. Numerous hotels, motels, lodges, and guest houses are available to accommodate tourists. The tourism industry currently contributes 6.7 percent of the country’s GDP and is considered a major source of foreign exchange reserves. The government is also allocating domestic private investment, foreign aids, and budgeting for the development of the tourism sector. This research is based on Linear Correlation Analysis, which shows a significant correlation between the number of tourist arrivals and the gross domestic product. Despite weaknesses and threats facing the tourism sector, the government of Nepal has already implemented various measures to mitigate their effects.