In a significant development for Nepal’s tourism industry, an Australian Expert Group has pledged to invest in the development of a luxury resort in the picturesque surroundings of Rara Lake, Nepal’s largest freshwater lake. The agreement was formalized during the ongoing Third Nepal Investment Summit in Kathmandu, marking a milestone for the country’s efforts to attract foreign investment in the hospitality sector.
Representatives from the Australian Expert Group, Badri Aryal, and Sanjeev Sharma, joined Abhishek Bikram Shah of Rara Holdings Resort Pvt. Ltd in signing the agreement, which will see an initial investment of 70 million Nepalese rupees (NPR) for the luxury resort project.
Located in Rara Municipality-9, the resort will be situated at an elevation of 3,700 meters above sea level, offering visitors a unique and immersive experience amidst the breathtaking natural beauty of the Karnali Province. The resort’s design will showcase traditional Nepali architecture while prioritizing environmental sustainability, aligning with the growing demand for eco-friendly tourism initiatives.
This project marks a significant milestone as it aims to establish the first luxury resort in the Karnali Province, a region renowned for its pristine landscapes and rich cultural heritage. By offering high-end accommodations and amenities, the resort aims to attract discerning travelers seeking a luxurious yet sustainable experience in Nepal’s remote and untouched natural settings.
In its second phase, the project is expected to receive an additional investment of 40 million NPR, further enhancing its facilities and amenities. This substantial investment from the Australian Expert Group not only demonstrates their confidence in Nepal’s tourism potential but also highlights the country’s efforts to attract foreign direct investment (FDI) in the hospitality sector.
The development of the luxury resort at Rara Lake is expected to boost local employment opportunities and contribute to the economic growth of the region. Additionally, it is anticipated to serve as a catalyst for further tourism development in the Karnali Province, showcasing the area’s unique attractions to a global audience.
As Nepal continues to diversify its tourism offerings and tap into its natural and cultural heritage, initiatives like the Rara Lake luxury resort project are poised to play a pivotal role in positioning the country as a premier destination for sustainable and high-end tourism experiences.
