Kathmandu Metropolitan City - Economy - Tourism

Tourism

Tourism, considered as another important industry in Nepal, opened up as the country's political equation changed in 1950 and isolation from the rest of the world ended. Establishing air services and the opening of the Tribhuvan Highway between Kathmandu and Raxaul at the border with India started in 1956. Separate organizations to promote this activity was created in the form of the Tourism Development Board, Department of Tourism and Civil Aviation Department in Kathmandu. Further, Nepal became a member of several international tourists associations. Establishing diplomatic relations with other nations further accentuated this activity. The hotel industry, travel agencies, training of tourist guides, and targeted publicity campaigns are the chief reasons attributed for the remarkable growth of this industry in Nepal and in Kathmandu, in particular.

Since then tourism has opened up in the country manifold and as a result it is sometimes said to be the "third religion" of Nepal, as the country's most important industry that plays a large role in the economic activity of Kathmandu. It is a major source of income for most of the people of the city, with several hundred thousands of visitors annually. Hindu and Buddhist pilgrims from all over the world visit religious places located in Kathmandu such as Pashupatinath, Swayambhunath, Baudhanath, and Budhanilkantha. From a mere 6,179 tourists in 1961–62, the number jumped to 491,504, but with political instability in the country in recent years, it dropped to 275,468 in 2002–03, but since then has shown a rising trend with the country turning into a Democratic Republic. In economic terms, the foreign exchange earning showed a remarkable trend, registering 3.8% of the GDP in 1995–96 but then started declining. the high level of tourism is attributed to the natural grandeur of the Himalayas and the rich cultural heritage of the country.

The neighbourhood of Thamel is Kathmandu's primary "traveler's ghetto", packed with guest houses, restaurants, shops and bookstores catering to tourists from abroad. Another neighbourhood of growing popularity is Jhamel, a name for Jhamsikhel coined to rhyme with Thamel. Jhochhen Tol, also known as Freak Street, is Kathmandu's original traveler's haunt, made popular by the hippies of the 1960s and 1970s and itremains a popular alternative to Thamel. Asan is a bazaar and ceremonial square on the old trade route to Tibet and provides a fine example of a traditional neighborhood.

With the opening of the tourist industry after the change over in the political scenario of Nepal in 1950, the hotel industry drastically improved. Nowadays Kathmandu boasts several five-star hotels like Hyatt Regency, Hotel Yak & Yeti, The Everest Hotel, Hotel Radisson, Soaltee Crown plaza, Hotel De L'Annapurna, The Malla Hotel, Shangri-La Hotel and The Shanker Hotel (Heritage hotel: formerly a Rana Palace). There are several four star hotels like Hotel Vaishali, Hotel Narayani, The Blue Star, Grand Hotel, Woodlands Dynasty Plaza and Royal Singh Hotel. The Garden Hotel, Hotel Ambassador and Aloha Inn are among the 3 star hotels in Kathmandu. Hotels like Hyatt Regency, De L'Annapurna, Hotel Yak & Yeti, Hotel Radisson, The Malla Hotel, Soaltee Crown Plaza are among the 5 star hotels providing casinos as well entertaining their customers while making huge profits on this account.