Iran war and soaring fuel prices hit travel and tourism in Nepal hard
Summary
The ongoing Iran war and resultant soaring fuel prices have sharply increased airfares, causing a decline in tourist arrivals and cancellations of trekking bookings in Nepal during its peak season, impacting the tourism sector that supports over a million jobs.
Key Points
- Nepal Oil Corporation raised aviation turbine fuel prices to historic highs due to rising global energy costs triggered by the West Asia conflict.
- Airfares on major international routes to and from Kathmandu have more than doubled, leading to cancellations and postponements of trips.
- Tourism arrivals in Nepal declined by 1 percent in March, with significant cancellations in trekking bookings for April reaching nearly 60 percent.
- The disruption in air connectivity owing to conflicts in West Asia has severely affected Nepal's tourism sector, a key contributor to the national economy.
