KATHMANDU: Despite the availability of well-equipped universities and educational institutions within Nepal, the number of students opting for studies abroad continues to rise.
According to the latest report by Nepal Rastra Bank, Nepali students spent Rs 47.34 billion on foreign educational programs in the first five months of the current fiscal year.
The report also shows that total travel expenses increased by 12.2% to reach Rs 85.01 billion during the same period, of which Rs 47.41 billion was spent on education. In the same period last year, travel expenses amounted to Rs 75.73 billion.
As of mid-December, Nepal recorded a net service income deficit of Rs 40.71 billion, compared to a deficit of Rs 26.55 billion during the same period the previous year.
Under the service account, tourism income rose by 3.1% to reach Rs 35.19 billion during the review period, compared to Rs 34.12 billion in the same period last year.
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