POKHARA, Dec 3: The government has set a target of attracting one million foreign tourists in 2023. During the eleven months of this year (January-November 2023), a total of 918,308 foreign guests have entered Nepal. If 82,000 foreign tourists arrive in Nepal within the next month, the government's target will be fulfilled. During the review period, most of the tourists visiting Nepal were from India.
Visa-free entry is a carrot to expand the $28 billion that 27 million Indians spent overseas in 2019. Those numbers had swelled eightfold and sixfold, respectively, in the two decades before the pandemic.
Bangkok-based property company Magnolia Quality Development Corp (MQDC) is set to announce a partnership for its first residential project in India in early 2023. The company is exploring partnerships with local developers, considering a mixed-use project with a focus on luxury residential components. MQDC aims to tap into the Indian market and attract Indian buyers looking to purchase abroad.