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Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review period.
According to the latest report of Nepal Rastra Bank, the travel payments under the service account increased 42.5 percent to Rs 143.22 billion, including Rs 95.85 billion for education. Such payments were Rs 100.54 billion and Rs 67.19 billion respectively in the same period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal unveiled by the central bank on Sunday.
According to the report, travel income under the service account increased 40 percent to Rs 60.45 billion in the review period which was Rs 43.17 billion in the same period of the previous year.
As a result, net services income remained at a deficit of Rs 52.23 billion in the review period compared to a deficit of Rs 63.91 billion in the same period of the previous year.
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