FDI pledges from China in Nepal’s tourism sector amounts Rs 5.35 billion in the first two months of the current fiscal year

KATHMANDU, Sept. 24 — Foreign direct investments (FDI) worth around Rs 5.50 billion has been pledged in tourism businesses of Nepal in the first two months of the current fiscal year. This positive development comes even as this sector is hit hard by the ongoing COVID-19 pandemic effect.

According to the Department of Industry, the FDI commitment in the tourism sector that Nepal received during mid-July and mid-September is almost

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Travel sector hit as UK COVID-19 cases rise

The threat of further a second round of Covid restrictions in London has dented confid.ence, with the travel sector in particular feeling the heat as we head into the weekend. Meanwhile, retail sales data highlights the winners and losers from 2020. 

  • FTSE turns lower, as London heads for a second round of restrictions 

  • Travel sector hit hard as quarantine restrictions loom.

  • Retail sales growth slows, with ‘V’ shaped recovery proving

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Israel’s hotel sector expected to bounce back within five years

Israel’s hotel industry is expected to bounce back from the coronavirus pandemic to it’s 2019 peak within five years, thanks to the country’s resilience and ability to recover at an accelerated pace, industry professionals have said. The tourism industry worldwide took a broadside hit in the second quarter of 2020, as the coronavirus lockdown grounded flights and closed borders to visitors. Israel’s hotel industry was no exception, with occupancy dropping
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Pandemic Could Set Tourism Sector Back By $1 Trillion

20200825_Tourism_Receipts_IBTimes_R Global international tourism receipts from 2000-2019 and possible scenarios for 2020 Photo: Statista/IBT

UN Secretary-General Antonio Guterres released a new report today that draws on UNWTO data to quantify the devastating impact that the coronavirus pandemic has had on global tourism. It warns that up to 120 million tourism jobs are at risk, with the economic damage likely to exceed $1 trillion in 2020 alone.

“It is imperative that we

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A rough September lies ahead for New York City’s tourism sector as major events pivot to virtual

The U.S. Open tennis tournament, New York Fall Fashion Week and the U.N. General Assembly meetings, which together attract nearly one million attendees and make every September an economic windfall for New York City, will be unrecognizable this year. 

The three high-profile September events have been dramatically scaled back, with limited in-person attendance and much of the activity set to be hosted online. Their dwarfed presence comes as New York … Read More