bank.tourism bank

• Understanding Poverty
• Competitiveness

Tourism and Competitiveness

• Publications

The tourism sector provides opportunities for developing countries to create productive and inclusive jobs, grow innovative firms, finance the conservation of natural and cultural assets, and increase economic empowerment, especially for women, who comprise the majority of the tourism sector’s workforce. Before the COVID-19 pandemic, tourism was the world’s largest service sector—providing one in ten jobs worldwide,  almost seven percent of all international trade and  25 percent of the world’s service exports —a critical foreign exchange generator.  In 2019 the sector was valued at more than US$9 trillion and accounted for 10.4 percent of global GDP.

Tourism offers opportunities for economic diversification and market-creation. When effectively managed, its deep local value chains can expand demand for existing and new products and services that directly and positively impact the poor and rural/isolated communities. The sector can also be a force for biodiversity conservation, heritage protection, and climate-friendly livelihoods, making up a key pillar of the blue/green economy. This potential is also associated with social and environmental risks, which need to be managed and mitigated to maximize the sector’s net-positive benefits.

The impact of the COVID-19 pandemic has been devastating for tourism service providers, with a loss of 20 percent of all tourism jobs (62 million), and US$1.3 trillion in export revenue, leading to a reduction of 50 percent of its  contribution to GDP  in 2020 alone. The collapse of demand has severely impacted the livelihoods of tourism-dependent communities, small businesses and women-run enterprises. It has also reduced government tax revenues and constrained the availability of resources for destination management and site conservation.

Naturalist local guide with group of tourist in Cuyabeno Wildlife Reserve Ecuador. Photo: Ammit Jack/Shutterstock

Tourism and Competitiveness Strategic Pillars

Our solutions are integrated across the following areas:

• Competitive and Productive Tourism Markets. We work with government and private sector stakeholders to foster competitive tourism markets that create productive jobs, improve visitor expenditure and impact, and are supportive of high-growth, innovative firms. To do so we offer guidance on firm and destination level recovery, policy and regulatory reforms, demand diversification, investment promotion and market access. 
• Blue, Green and Resilient Tourism Economies. We support economic diversification to sustain natural capital and tourism assets, prepare for external and climate-related shocks, and be sustainably managed through strong policy, coordination, and governance improvements. To do so we offer support to align the tourism enabling and policy environment towards sustainability, while improving tourism destination and site planning, development, and management. We work with governments to enhance the sector’s resilience and to foster the development of innovative sustainable financing instruments.
• Inclusive Value Chains. We work with client governments and intermediaries to support Small and Medium sized Enterprises (SMEs), and strengthen value chains that provide equitable livelihoods for communities, women, youth, minorities, and local businesses. 

The successful design and implementation of reforms in the tourism space requires the combined effort of diverse line ministries and agencies, and an understanding of the impact of digital technologies in the industry. Accordingly, our teams support cross-cutting issues of tourism governance and coordination, digital innovation and the use and application of data throughout the three focus areas of work.

Tourism and Competitiveness Theory of Change 

Examples of our projects:

• In Indonesia , a US$955m loan is supporting the Government’s Integrated Infrastructure Development for National Tourism Strategic Areas Project. This project is designed to improve the quality of, and access to, tourism-relevant basic infrastructure and services, strengthen local economy linkages to tourism, and attract private investment in selected tourism destinations. In its initial phases, the project has supported detailed market and demand analyses needed to justify significant public investment, mobilized integrated tourism destination masterplans for each new destination and established essential coordination mechanisms at the national level and at all seventeen of the Project’s participating districts and cities.
• In Madagascar , a series of projects totaling US$450m in lending and IFC Technical Assistance have contributed to the sustainable growth of the tourism sector by enhancing access to enabling infrastructure and services in target regions. Activities under the project focused on providing support to SMEs, capacity building to institutions, and promoting investment and enabling environment reforms. They resulted in the creation of more than 10,000 jobs and the registration of more than 30,000 businesses. As a result of COVID-19, the project provided emergency support both to government institutions (i.e., Ministry of Tourism) and other organizations such as the National Tourism Promotion Board to plan, strategize and implement initiatives to address effects of the pandemic and support the sector’s gradual relaunch, as well as to directly support tourism companies and workers groups most affected by the crisis. 
• In Sierra Leone , an Economic Diversification Project has a strong focus on sustainable tourism development.  The project is contributing significantly to the COVID-19 recovery, with its focus on the creation of six new tourism destinations, attracting new private investment, and building the capacity of government ministries to successfully manage and market their tourism assets.  This project aims to contribute to the development of more circular economy tourism business models, and support the growth of women- run tourism businesses.  
• Through the Rebuilding Tourism Competitiveness: Tourism Response, Recovery and Resilience to the COVID-19 Crisis initiative and the Tourism for Development Learning Series , we held webinars, published insights and guidance notes as well as formed new partnerships with Organization of Eastern Caribbean States, United Nations Environment Program, United Nations World Tourism Organization, and World Travel and Tourism Council to exchange knowledge on managing tourism throughout the pandemic, planning for recovery and building back better. The initiative’s key Policy Note has been downloaded more than 20,000 times and has been used to inform recovery initiatives in over 30 countries across 6 regions.
• The Global Aviation Dashboard  is a platform that visualizes real-time changes in global flight movements, allowing users to generate 2D & 3D visualizations, charts, graphs, and tables; and ranking animations for: flight volume, seat volume, and available seat kilometers.  Data is available for domestic, intra-regional, and inter-regional routes across all regions, countries, airports, and airlines on a daily, weekly, or monthly basis from January 2020 until today. The dashboard has been used to track the status and recovery of global travel and inform policy and operational actions.

Traditional Samburu women in Kenya. Photo: hecke61/Shutterstock.

Featured Data

We-Fi WeTour Women in Tourism Enterprise Surveys (2019)

• Sierra Leone  |  Ghana

Featured Reports 

• Destination Management Handbook: A Guide to the Planning and Implementation of Destination Management  (2023)
• Blue Tourism in Islands and Small Tourism-Dependent Coastal States : Tools and Recovery Strategies (2022)
• Resilient Tourism: Competitiveness in the Face of Disasters  (2020)
• Tourism and the Sharing Economy: Policy and Potential of Sustainable Peer-to-Peer Accommodation  (2018)
• Supporting Sustainable Livelihoods through Wildlife Tourism  (2018)
• The Voice of Travelers: Leveraging User-Generated Content for Tourism Development  (2018)
• Women and Tourism: Designing for Inclusion  (2017)
• Twenty Reasons Sustainable Tourism Counts for Development  (2017)
• An introduction to tourism concessioning:14 characteristics of successful programs.  The World Bank, 2016)
• Getting financed: 9 tips for community joint ventures in tourism . World Wildlife Fund (WWF) and World Bank, (2015)
• Global investment promotion best practices: Winning tourism investment” Investment Climate  (2013)

Country-Specific

• COVID-19 and Tourism in South Asia: Opportunities for Sustainable Regional Outcomes  (2020)
• Demand Analysis for Tourism in African Local Communities  (2018)
• Tourism in Africa: Harnessing Tourism for Growth and Improved Livelihoods . Africa Development Forum (2014)

COVID-19 Response

• Expecting the Unexpected : Tools and Policy Considerations to Support the Recovery and Resilience of the Tourism Sector (2022)
• Rebuilding Tourism Competitiveness. Tourism response, recovery and resilience to the COVID-19 crisis  (2020)
• COVID-19 and Tourism in South Asia Opportunities for Sustainable Regional Outcomes  (2020)  
• WBG support for tourism clients and destinations during the COVID-19 crisis  (2020)
• Tourism for Development: Tourism Diagnostic Toolkit  (2019)
• Tourism Theory of Change  (2018)

Country   -Specific

• COVID Impact Mitigation Survey Results  (South Africa) (2020)
• COVID Preparedness for Reopening Survey Results  (South Africa) (2020)
• COVID Study  (Fiji) (2020) with   IFC

Featured Blogs

• Fiona Stewart, Samantha Power & Shaun Mann ,  Harnessing the power of capital markets to conserve and restore global biodiversity through “Natural Asset Companies”   | October 12 th  2021
• Mari Elka Pangestu ,  Tourism in the post-COVID world: Three steps to build better forward  | April 30 th  2021
• Hartwig Schafer ,  Regional collaboration can help South Asian nations rebuild and strengthen tourism industry  | July 23 rd  2020
• Caroline Freund ,  We can’t travel, but we can take measures to preserve jobs in the tourism industry  | March 20 th  2020

Featured Webinars

• Destination Management for Resilient Growth . This webinar looks at emerging destinations at the local level to examine the opportunities, examples, and best tools available. Destination Management Handbook
• Launch of the Future of Pacific Tourism. This webinar goes through the results of the new Future of Pacific Tourism report. It was launched by FCI Regional and Global Managers with Discussants from the Asian Development Bank and Intrepid Group.
• Circular Economy and Tourism . This webinar discusses how new and circular business models are needed to change the way tourism operates and enable businesses and destinations to be sustainable.
• Closing the Gap: Gender in Projects and Analytics .  The purpose of this webinar is to raise awareness on integrating gender considerations into projects and provide guidelines for future project design in various sectoral areas.
• WTO Tourism Resilience: Building forward Better. High-level panelists from Sri Lanka, Costa Rica, Jordan and Kenya discuss how donors, governments and the private sector can work together most effectively to rebuild the tourism industry and improve its resilience for the future.
• Tourism Watch
• [email protected]

Launch of Blue Tourism Resource Portal

The Role of Banking and Financial Institutions in the Tourism and Hospitality Industry in Bangladesh

• First Online: 05 January 2022

Cite this chapter

• Hasanul Banna 2 ,
• Md Aslam Mia 3 &
• Md. Sohel Rana 4  

257 Accesses

1 Citations

3 Altmetric

The tourism industry has been contributing significantly to the national economy of any country, including Bangladesh. In recent years, beach tourism, historical tourism, natural tourism, medical tourism, apparel tourism, agricultural tourism, education tourism, entertainment tourism, and sports tourism, etc. have emerged as potential sources of income due to the many scenic and natural beauties of Bangladesh. Nevertheless, these emerging tourism niches require special attention and investment from both the public and private stakeholders. To promote the tourism industry globally, it is important to improve pertinent logistics and infrastructure, including banking and financial services. Hence, this chapter reviews and explores the role of banking and financial intermediaries to facilitate and invest in the tourism and hospitality industry so that this industry can flourish rapidly and contribute significantly to the socio-economic development process of Bangladesh. In so doing, secondary sources of data were collected and analyzed in this study. Our findings revealed that banks and financial institutions need to design travelers’ friendly products and services. To date, the banking system in Bangladesh has very limited tourism-related products such as credit card facilities. Most of the lending facilities are a consumer and small and medium-sized enterprises (SME) loans. Therefore, proper banking rules and regulations should be put in place to integrate tourism-friendly products and services. Ultimately, the partnership between the bank and the tourism industry will contribute to the promotion of the tourism industry of Bangladesh.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

• Available as PDF
• Read on any device
• Instant download
• Own it forever
• Available as EPUB and PDF
• Compact, lightweight edition
• Dispatched in 3 to 5 business days
• Free shipping worldwide - see info
• Durable hardcover edition

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Ahmed, M. (2000). Promoting public-private partnership in health and education: The case of Bangladesh. Paper presented at the Seminar on Public-Private Partnerships in Health . Ayuthya: ADB Institute and the National Economic and Social Development Board.

Google Scholar  

Bangladesh Bank. (2019). Annual Report of Bangladesh Bank (BB). Retrieved from: https://www.bb.org.bd/pub/annual/anreport/ar1819/full_2018_2019.pdf . Accessed 26 Dec 2020.

Chowdhury, T., Fahim, S. T., & Dooty, E. N. (2013). Promoting public private partnership for development of tourism sector of Bangladesh: An exploratory study. European Journal of Business and Management, 5 , 194–202.

Databd. (2020). Tourism: A possible new driver for the economy of Bangladesh . Retrieved from: https://databd.co/stories/tourism-a-possible-new-driver-for-the-economy-of-bangladesh . Accessed 28 Dec 2020.

Dhaka Tribune. (2018). A fair warning . Retrieved from: http://www.dhakatribune.com/business/2018/04/09/a-fair-warning/ . Accessed 26 Dec 2020.

Financial Express. (2019). Economic growth in Bangladesh and the role of banking sector. Retrieved from: https://www.thefinancialexpress.com.bd/views/views/economic-growth-in-bangladesh-and-the-role-of-banking-sector-1547220114 . Accessed 27 Dec 2020.

Ministry of Finance (MoF). (2010). Bangladesh economic review . MoF.

Rahman, M., Rana, M. S., Hoque, M. N., & Rahman, M. K. (2019). Brand perception of halal tourism services and satisfaction: The mediating role of tourists’ attitudes. International Journal of Tourism Sciences, 19 (1), 18–37.

Article   Google Scholar  

Rana, M. S., Rahman, M. K., Islam, M. F., & Hassan, A. (2020). Globalization effects on tourism marketing in Bangladesh. In A. Hassan (Ed.), Tourism marketing in Bangladesh (pp. 157–171). Routledge.

Chapter   Google Scholar  

US Department of State. (2020). Bangladesh travel advisory . Retrieved from: https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories/bangladesh-travel-advisory.html . Accessed 26 Dec 2020.

World Bank (WB). (2020). International tourism, number of arrivals – East Asia & Pacific. Retrieved from: https://data.worldbank.org/indicator/ST.INT.ARVL?end=2017&locations=Z4&start=2017&type=shaded&view=map&year=2017 . Accessed 28 Dec 2020.

World Economic Forum (WEF). (2019). The travel & tourism competitiveness report 2019 . Retrieved from: http://www3.weforum.org/docs/WEF_TTCR_2019.pdf . Accessed 28 Dec 2020.

World Travel and Tourism Council (WTTC). (2020) Economic impact reports . Retrieved from: https://wttc.org/Research/Economic-Impact . Accessed 28 Dec 2020.

Download references

Author information

Authors and affiliations.

Ungku Aziz Centre for Development Studies, Faculty of Economics and Administration, Universiti Malaya (UM), Kuala Lumpur, Malaysia

Hasanul Banna

School of Management (SOM), Universiti Sains Malaysia (USM), Penang, Malaysia

Md Aslam Mia

Department of Business Policy and Strategy, Faculty of Business and Accountancy, Universiti Malaya (UM), Kuala Lumpur, Malaysia

Md. Sohel Rana

You can also search for this author in PubMed   Google Scholar

Corresponding author

Correspondence to Hasanul Banna .

Editor information

Editors and affiliations.

Tourism Consultants Network, The Tourism Society, London, UK

Azizul Hassan

Rights and permissions

Reprints and permissions

Copyright information

© 2021 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

About this chapter

Banna, H., Mia, M.A., Rana, M.S. (2021). The Role of Banking and Financial Institutions in the Tourism and Hospitality Industry in Bangladesh. In: Hassan, A. (eds) Tourism in Bangladesh: Investment and Development Perspectives. Springer, Singapore. https://doi.org/10.1007/978-981-16-1858-1_8

Download citation

DOI : https://doi.org/10.1007/978-981-16-1858-1_8

Published : 05 January 2022

Publisher Name : Springer, Singapore

Print ISBN : 978-981-16-1857-4

Online ISBN : 978-981-16-1858-1

eBook Packages : Business and Management Business and Management (R0)

Share this chapter

Anyone you share the following link with will be able to read this content:

Sorry, a shareable link is not currently available for this article.

Provided by the Springer Nature SharedIt content-sharing initiative

• Publish with us

Policies and ethics

• Find a journal
• Track your research

International Banking

News and Media

News And Media

Read the latest news from the Tourism Bank in this page

Introduction

Common Vision

Subsidiaries & Affiliates

Products and Servicess

Currency Orders

Long-term foreign currency account

Currency Saving

Currency Exchange

Social media

Important Links

Private Banking

Tourism Financial Group

Tourism Information Technology

• Skip to primary navigation
• Skip to content

Education Loan

Tourism flexi loan, sme line of credit.

• Hire Purchase
• Team Members
• Industry-Specific Expertise
• Competitive Interest Rates
• Flexible Savings Options
• Easy Access to Funds
• Specialized Loan Opportunities
• Growth with the Industry
• Member-First Approach
• Attractive Dividend Opportunities

Send a message.

We’re here to answer any question you may have.

Would you like to join our growing team?

[email protected]

I am bound by the terms of the Service I accept Privacy Policy

Great things in business are never done one. They're done by a team of people.

Email us directly

Call us directly, (123) 567 8901, tourism micro finance institution.

Simplifying our needs together. We handle finance and banking

Or call us at 0393 246 613

Uganda Tourism Bank

Our purpose..

We advance lives through financial and related services.

Advance lives through financial and related services

Our purpose is to ‘advance lives through financial and related services’. Encapsulated in the phrase ‘advancing lives’, our purpose extends beyond generating profit for a narrow set of stakeholders. We strive to create tangible value for all our current and future stakeholders, within the context of creating a successful retail Sector focused bank.

Financial capital And business

Our process applies techniques from a variety of disciplines distinction in detail and gives careful attention.

Citizenship And Immigration

Criminal cases and defense.

11 Years of experience

We aid your banking and finance.

Our purpose is to ‘advance lives through financial and related services’. Encapsulated in the phrase ‘advancing lives’, our purpose extends beyond generating profit for a narrow set of stakeholders.

Products & Services

Our services extend beyond, encompassing a wide array of financial solutions tailored for various sectors and businesses.

Our organizational overview.

Our ownership structure.

Uganda Tourism bank is owned by subscription share holding by members of the bank itself as an operational frame work to achieve a sustainable control measures for growth and investment levels of the bank as form to raise equity.

Business and Financial Performance

Prior to the outbreak of the novel coronavirus pandemic in Uganda, and given an already weakened macroeconomic environment, our management team took proactive steps to tighten various credit-granting criteria in September 2023.

Advancing Lives

Our purpose is that of advancing lives through our financial and related services. We pride ourselves on offering an increasingly diverse range of products and services, which provide for customer value and socially responsible banking.

Loans Offered

School fee season worries? Our Education Loan is a tailored financing solution designed to support your educational aspirations and foster your personal development without delay.

Our Flexi Loan product is designed to fuel your business growth, providing the versatility to access funds as needed, ensuring you can seize every opportunity for expansion with ease

Our SME Line of Credit is tailored to empower your business ambitions, granting you flexible access to funds so you can capitalize on growth opportunities.

What do people say

Testimonials.

Their business to develop successful digital ideas and strategies that engage and convert significant, targeted traffic develop successful digital ideas and strategies that engage and convert

Philip Scarlett, Envato Ceo

Latest Posts

We embrace holistic development and support for the aim of being a first-choice employer within our sectors.

Finding the best financial capital and business lawyer

• Uncategorized

Building the international influence in the United States

• Case studies

Legal authorities leak the new real estate laws

Adding {{itemName}} to cart

Added {{itemName}} to cart

• ALL MOSCOW TOURS
• Getting Russian Visa
• Top 10 Reasons To Go
• Things To Do In Moscow
• Sheremetyevo Airport
• Domodedovo Airport
• Vnukovo Airport
• Airports Transfer
• Layover in Moscow
• Best Moscow Hotels
• Best Moscow Hostels
• Art in Moscow
• Moscow Theatres
• Moscow Parks
• Free Attractions
• Walking Routes
• Sports in Moscow
• Shopping in Moscow
• The Moscow Metro
• Moscow Public Transport
• Taxi in Moscow
• Driving in Moscow
• Moscow Maps & Traffic
• Facts about Moscow – City Factsheet
• Expat Communities
• Groceries in Moscow
• Healthcare in Moscow
• Blogs about Moscow
• Flat Rentals

Top 10 Moscow Attractions – Things To Do In Moscow

1. all around the kremlin.

Start from the Alexandrovsky Sad (Alexander Garden), a highlight of Moscow center. The garden is famous for its architectural monuments, incredibly beautiful flowerbeds and history. The Eternal Flame in the memory of the fallen heroes in the World War II glows in front of the Kremlin Kutafya Tower. Alexandrovsky Sad is a place that is impossible to miss, if you are going to the Kremlin , a symbol of the Russian State, one of the greatest architectural ensembles in the world, a treasury of amazing relics and monuments of art. The famous  Armory Chamber and the Diamond Fund are real treasure houses. The Kremlin is the official President’s residence and remains a gorgeous political landmark. On the way from the Kremlin to the Red Square , you will find the State History Muzeum , with a wonderful collection of artworks, depicting Russian history. Red Square remains, as it has been for centuries, the heart and soul of Russia. Few places in the world bear the weight of history to the extent that Moscow’s central square does. From the 16th Century St. Basil’s Cathedral – one of the most famous pieces of architecture in the world – to the constructivist pyramid of  Lenin’s Mausoleum , Red Square is rich in symbols of Russia’s turbulent and intriguing past. Right at the Square there is one of the oldest and most remarkable shopping centers in Moscow – the GUM . Just several trading passages in Russia were created over a century ago and successfully operate until nowadays. GUM always was, and remains the greatest country’s store. To have some rest you can go to recently opened Zaryadye Park and enjoy breathtaking views of The Moscow Kremlin from the floating bridge, listen to some classic concerts or try local food from different regions of Russia.

2. NEAR THE BOLSHOI THEATRE

-> Read our main article about Moscow theatres

Not far from the Kremlin and the main street of Moscow – Tverskaya street you will find the Theater Square. The square is situated over the river Neglinka that was enclosed in an underground pipe in 1819. Now it is a green square with two beautiful fountains. The area owes its name because of t three theaters located there: a world-famous Bolshoi Theatre , Maly Theatre and Russian Academic Youth Theatre (RAMT). The Bolshoi Theatre is a symbol of Russia for all time. It was awarded this honor due to the major contribution to the history of the Russian performing arts. This history is on-going and today Bolshoi Theatre artists continue to contribute to it many bright pages. Visit the theatre to watch the magnificent Russian operas and ballets. Despite high ticket’s price, you will never be disappointed; it is a real pearl of the world’s theatrical life. The TsUM is a luxurious shopping mall with recognizable designer labels and expensive goods is also located at the Theatre Square. A good place to visit in this area is a place called «Denis Simachev Bar», a two-story house in Stoleshnikov Lane. The music and menu are diverse, as well as the audience. A special drink of the bar is cider «Sidor Simachev».

3. AROUND CATHEDRAL OF CHRIST THE SAVIOUR

Start from Ostozhenka St. , and lanes around it, to see the charming old Moscow. Despite that Ostozhenka became one of the most expensive streets in the world, with lots of new houses, it preserved unique examples of the 18 and 19 centuries architecture, which you may find in the numerous bystreets. Moreover, Multimedia Art Museum , one of the most interesting art spots in Moscow is located at Ostozhenka, 16. Follow the street to the city center and you will see the Cathedral of Christ the Saviour . It is one of the largest Orthodox church in the world. The building is magnificent, but not as old as it looks, it was rebuilt in 2000 (the original was demolished by the order of Stalin). One of the highlights of the Cathedral is the panoramic view from the 40-meter-high observation platform. Use the footbridge from Christ the Savior Cathedral to get to the former area of confectionary factory Krasniy Octyabr (the Red October) with lots of stores, bars and cultural spots. The Strelka Bar is a good place to have some rest. It is a comfortable urban space for informal and having a cocktail. In summertime, the bar opens a terrace overlooking the Moscow River.

4. THE GORKY PARK

-> Read our main article about Moscow Parks

After visiting the previous attraction, you can follow the footbridge and enter the long pedestrian zone at the borders of the Moskva River. At first, the Krimskaya embankment will lead you to the Museon Art Park , that has a unique collection of 700 sculptures. Nowadays Museon, together with the Gorky Park and Neskuchniy Sad are much reconstructed. The space of the Museon Park of Arts is perfectly landscaped for a comfortable and enjoyable stay. Follow the River Bank and you will come to the main leisure and cultural spot of nowadays Moscow – the  Gorky Park . It opened in 1928. In 2011, Gorky Park underwent a major restructuring and now has a fresh, vibrant appearance. The park’s recently upgraded design makes it one of the most interesting places to spend your leisure time. About 20,000 visitors visit the 109-hectare park each day. The park features bike rental stations, a comfortable business area with Wi-Fi, an outdoor movie theatre and a greenhouse where you can buy fresh greens such as basil and lettuce, numerous open-air cafes, yoga classes, film festivals in the summer cinema and classical music concerts. To contemplate the sky and the stars, you can go to the observatory and look through the telescope while listening to fascinating stories from astronomers. You can enjoy many sports in the park such as volleyball, handball, football or a peaceful jog around the beautiful surroundings If you go further by the riverbank you will reach Neskuchniy Sad , a wonderful place in the Moscow center, one of Moscow’s oldest parks, highly renovated for the past few years. Once an area filled with the summer palaces of Moscow’s wealthiest nobles, it is now a charming slice of wildlife with many activities and places of rest.

5. THE METRO

-> Read our main article about The Moscow Metro

-> We also have great  MOSCOW METRO TOUR , available for you

The Moscow Metro has its own unforgettable charm. It was opened in 1935 and became one of the USSR’s most extravagant architectural projects. That is why most of the central underground stations look like a museum. Every station has its own mood, different decorations and fascinating story. Take a journey in Moscow underground to get an unforgettable impression of the city.

6. THE NOVODEVICHY CONVENT

The Novodevichy Convent , built in the 16th and 17th centuries in the so-called Moscow Baroque style, was part of a chain of monastic ensembles that were integrated into the defence system of the city. The convent was directly associated with the political, cultural and religious history of Russia, and closely linked to the Moscow Kremlin. It was used by women of the Tsar’s family and the aristocracy. Members of the Tsar’s family and entourage were also buried in its cemetery. The convent provides an example of the highest accomplishments of Russian architecture with rich interiors and an important collection of paintings and artefacts. The convent was closed in 1917, and in 1926, it became a branch of the State Historical Museum. The museum`s collection now consist of about 12,000 items, including old Russian paintings, fabrics from the 16th—20th centuries, items from precious metals and stones, liturgical items, and vestments, made by the best artists, jewelers and embroiderers. The necropolis is one of the convent`s special attractions. The Novodevichy cemetery is divided into «new» and «old» sections. The old cemetery lies within the convent’s walls, and since the early 18th century it was the burial place for eminent and rich people, above all, the tsar’s family. In the 19th century, many prominent Russians were laid to rest here. The new cemetery was had been used from 1898 to 1904. During the Soviet era, the Novodevichy cemetery was second in prestige only to the Kremlin wall necropolis.

7. ZOO AND PLANETARIUM

The Moscow Zoo is one of the oldest zoos in Europe. Its first name has been Zoological Park and it was opened in 1864. Through 140 years of its history, during times of peace, war, revolution the Zoo was open. Nowadays it is located right in the middle of the big city. The main entrance to the zoo, built in 1997, stands opposite Krasnopresnenskaya metro station. It looks like a fairytale castle with towers and a waterfall. This enter leads to the old part of the zoo, where the highlights include the big cats, a neat underground viewing space below the penguin pool, a dolphinarium, as well as the sea lion enclosure that lets you watch them swim from below. A pedestrian bridge takes you across the street to the New Territory, the most interesting parts of which are probably the primate house and fun children’s zoo. Near the second enter to the Zoo at the Garden ring The Moscow Planetarium is located. It was first opened on November 5, 1929. After a global reconstruction, it was reopened in 2011. Now it is a multifunctional complex that combines scientific and educational resources: the interactive museum «Lunarium», the Museum of Urania, the Big Star Hall and the Sky Park, family recreation center that is focused on different age groups. The Moscow Planetarium is one of the biggest planetariums in the world.

9. THE VDNKH AND MUSEUM OF COSMONAUTICS

-> We also have great  SOVIET MOSCOW TOUR , available for you

The VDNKh – the Exhibition of National Economic Achievements – and it remains a fascinating monument to Russia’s transitional period, a mixture of faded Soviet pomp and unregulated capitalism. Its story began in 1939 as the All-Union Agricultural Exhibition, a monumental paean to the achievements of collectivization. Nowadays the VDNKh is a bizarre juxtaposition: part agricultural fair, part trade expo, part shopping center and part street market, with amusements as diverse as paint-balling and camel rides. The park itself is an intriguing example of 20th century landscaping. The VDNKh buildings, still preposterously magnificent are wonderful example of Soviet architecture. The VDNKh is truly unique, and worth visiting, especially as there is much more to be seen nearby, including the wonderful Cosmonautics Museum . It was opened in 1981, to the 20th anniversary of Yuri Gagarin space flight. The idea of creating this museum belongs to famous Russian scientist S.P. Korolev, one of the major figures in rocketry and space ship building of the XX century. Nowadays a large exposition demonstrates a full-size rocket and space technology. You can try interactive exhibits, such as the one, identical to the Cosmonaut Training Center simulator, virtual international space station and more.

10. KOLOMENSKOE MUSEUM-RESERVE

A unique historic place – Kolomenskoe – is situated in the picturesque surrounding over the Moscow River banks. These lands are full of legends. Archeological discoveries state that the first settlements appeared here in the 8th century. It is an ancient and uniquely formed place. Today this is an exceptional complex of cultural monuments of a great historical value. The chief attraction of the park is undoubtedly the stone Church of the Ascension of the Lord . It was constructed in 1529-1532 by order of Tsar Vasily III to commemorate the birth of his son and heir, Ivan the Terrible. However, there is a lot more to see in the park: the pretty Church of the Icon of Our Lady of Kazan – with its bright azure domes and plenty of gold. Further into the park there is a charming Church of the Beheading of St John the Baptist , built by Ivan the Terrible to mark his coronation. If you visit this place, you can fully enjoy nature, picturesque views over the Moskva River and learn about Russian medieval architecture. Moreover, many cultural events are held here.

PLAN YOUR TRIP WITH US

Happy to help you with everything, from general plan of your visit to plane tickets or hotel stay. We may also support your Russian Visa request with a letter of invitation if you need so.

SEE OUR TOURS

We host around 60 tours every month in English, Russian, German, Italian, Spanish, Arabic and other languages. All of our tours =>

SAVE THIS LINK

If you only started to think about visiting Moscow, just save our site in your browser’s bookmarks or follow us on Facebook and Instagram to be in touch.

Our Private Tours in Moscow

Layover in moscow tailor-made private tour, whole day in moscow private tour, all-in-one moscow essential private tour, moscow metro & stalin skyscrapers private tour, moscow art & design private tour, soviet moscow historical & heritage private tour, gastronomic moscow private tour, «day two» moscow private tour, tour guide jobs →.

Every year we host more and more private tours in English, Russian and other languages for travelers from all over the world. They need best service, amazing stories and deep history knowledge. If you want to become our guide, please write us.

Contact Info

+7 495 166-72-69

[email protected]

119019 Moscow, Russia, Filippovskiy per. 7, 1

Mon - Sun 10.00 - 18.00

China's Economy Sees Bright Spot As Country's Largest Bank Funds $41B In Tourism

T o revive the country’s tourism sector, the Industrial & Commercial Bank of China Ltd (ICBC), the country’s largest bank, has pledged to provide financing for 300 billion yuan ($41 billion).

What Happened : The ICBC signed a cooperation agreement with China’s Ministry of Culture and Tourism on Tuesday, as reported by Bloomberg. The move aims to stimulate tourism investment and spending, which have been relatively resilient amid China’s economic challenges.

Despite deflationary pressure and a prolonged property crisis, tourism has been a bright spot in China’s economy. Domestic tourism trips surged by 93.3% in 2023 from the previous year, with spending reaching 4.91 trillion yuan, a 140.3% increase. During the Lunar New Year holiday in February, domestic trips rose by 19% from pre-COVID levels, with spending climbing by 7.7%.

Trending: What's Going On With Palantir Technologies Shares Monday? - Palantir Technologies (NYSE:PLTR)

Must Read: 'Not An April Fools:' Tesla's FSD Wows Ex-Cruise Exec Who Calls Its Driving 'Eerily Natural'

See Also: Tesla Hikes Model Y Prices In China Ahead Of Q1 Deliveries: Here’re The Updated Pricing In EV Maker’s Key Market

Why It Matters : The injection of funds into the tourism sector is crucial for China’s economy. Despite signs of recovery in the manufacturing sector, such as the 13-month peak in the Caixin Manufacturing Sector , the economy is still facing challenges.

Low confidence in the Chinese economy was recently highlighted by a CEO who attended the China Development Forum. However, Chinese President Xi Jinping expressed optimism about the future of Sino-American relations during a meeting with U.S. business leaders.

Despite these challenges, the injection of funds into the tourism sector could provide a much-needed boost to the Chinese economy, which is still grappling with deflationary pressures and a property crisis.

Read Next: Benzinga’s ‘Stock Whisper’ Index: 5 Stocks Investors Secretly Monitor But Don’t Talk About Yet

Image Via Shutterstock

Engineered by Benzinga Neuro, Edited by

Kaustubh Bagalkote

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you.

Learn more.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

This article China's Economy Sees Bright Spot As Country's Largest Bank Funds $41B In Tourism originally appeared on Benzinga.com .

Subscribe Now! Get features like

• Latest News
• Entertainment
• Real Estate
• RCB vs SRH Live Score
• Election Schedule 2024
• Win iPhone 15
• IPL 2024 Schedule
• IPL Points Table
• IPL Purple Cap
• IPL Orange Cap
• AP Board Results 2024
• The Interview
• Web Stories
• Virat Kohli
• Mumbai News
• Bengaluru News
• Daily Digest

Moscow extends a warm welcome to Indian travellers with enhanced infrastructure and hidden gems

Russia actively promoting moscow as a tourist destination for indian travellers, improving infrastructure and visa process..

Russia is making an active bid to attract Indian travellers to visit Moscow -- a huge megalopolis and the historical, political and spiritual heart of the Russian Federation. The Moscow City Tourism Committee is promoting the city not only as a cultural capital but also as a business hub as it plans to onboard trade partners, tourists and vacationers. Moscow has also strengthened cooperation with the tourism sectors of allied nations, hosting familiarization tours for delegates and arranging business trips to showcase the city's tourism potential.

To accommodate visitors, Moscow is improving its infrastructure: signs are now available in English and Chinese, all announcements on public transport are repeated in English, and hotels are also adapting to cater to the needs of guests from various countries and ensure a comfortable stay. "We are still on our way to restore the flow of Indian tourists in Moscow like it used to be before the pandemic," said Bulat Nurmukhanov, Head of International Cooperation Division of Moscow City Tourism Committee.

Bulat further said that before the pandemic, there was a steady growth of 12-15 per cent on a year-on-year basis. In the first half of the year, Moscow received about 20,000 Indians, compared to the same period a year ago, it is about 56 per cent higher. In a bid to make Moscow a must-visit destination, the committee is actively working on improving the infrastructure for international travellers. Moscow is spearheading the development of innovative standards in catering to the needs of foreign travellers.

Tourists arriving in the capital can stay in hotels of various price segments. They can savour traditional Russian cuisine, and can also indulge in a diverse culinary experience, with options ranging from authentic Indian delicacies to continental dishes prepared to the highest standards. In 2022, the number of foreign tourists who visited Moscow increased by 6.3 per cent compared to 2021, reaching a total of 1.7 million.

Travelling to Moscow has now become easier as tourists from India and 54 other countries can apply for an electronic visa to enter Russia from August 1, 2023. The impact of e-visa rollout would be available by October this year after the quarterly data from the Russian border control agencies is analysed, Bulat said.

Moreover, the Russian government is planning to come out with a virtual 'Foreign Tourist Card' that will enable cashless payments for various services. "The idea behind this card is, a person back home in India can remotely apply for this card and then he/she can transfer money from the personal bank account to this bank account," Bulat added.

Meanwhile, sources in the Indian Embassy in Moscow told reporters that the Indian tourism ministry as well as the governments of Goa and Kerala are slated to participate in roundtable discussions this month. There are also plans to engage social media influencers to improve the inward traffic to India. Before the pandemic, around 3 lakh Russian tourists visited India annually. The numbers are down to around 80,000-90,000 of late.

To facilitate easy visitor movement across the city, there is "Discover Moscow" -- a navigation and travel web portal about Moscow and "RUSSPASS travel service" -- a digital platform designed for planning trips across Russia. The Discover Moscow portal features descriptions of over 1,200 architectural landmarks in Moscow. The site provides news, digests with festival and event information and curated lists of exhibition venues.

By availing the RUSSPASS travel service, tourists can access all essential information for a trip to Moscow on the site, including visa and currency matters, accommodation and transportation options in the capital. The site also offers a trip builder feature, allowing tourists to select pre-designed city routes or create their own itinerary from their favourite locations. There are versions of the site in Russian, English, Spanish and Arabic.

On the cultural scene, Moscow boasts 10,000 cultural venues including theaters, museums, libraries, parks, cinemas, concert halls, and more. In the last decade, around 900 parks and green spaces have been renovated.

• Tourist Attraction
• Tourist Spot
• Tourist Destination

Join Hindustan Times

Create free account and unlock exciting features like.

• Terms of use
• Privacy policy
• Weather Today
• HT Newsletters
• Subscription
• Print Ad Rates
• Code of Ethics

• Elections 2024
• India vs England
• T20 World Cup 2024 Schedule
• IPL 2024 Auctions
• T20 World Cup 2024
• Cricket Players
• ICC Rankings
• Cricket Schedule
• Other Cities
• Income Tax Calculator
• Budget 2024
• Petrol Prices
• Diesel Prices
• Silver Rate
• Relationships
• Art and Culture
• Telugu Cinema
• Tamil Cinema
• Exam Results
• Competitive Exams
• Board Exams
• BBA Colleges
• Engineering Colleges
• Medical Colleges
• BCA Colleges
• Medical Exams
• Engineering Exams
• Horoscope 2024
• Festive Calendar 2024
• Compatibility Calculator
• The Economist Articles
• Explainer Video
• On The Record
• Vikram Chandra Daily Wrap
• PBKS vs DC Live Score
• KKR vs SRH Live Score
• EPL 2023-24
• ISL 2023-24
• Asian Games 2023
• Public Health
• Economic Policy
• International Affairs
• Climate Change
• Gender Equality
• future tech
• Daily Sudoku
• Daily Crossword
• Daily Word Jumble
• HT Friday Finance
• Explore Hindustan Times
• Privacy Policy
• Terms of Use
• Subscription - Terms of Use

Tanzania banks on tourism, exports to ease dollar crunch

The government is optimistic that the dollar crisis will start to ease further when the high tourist season begins next month. PHOTO | FILE

By  Rosemary Mirondo

Business Reporter

Mwananchi Communications Ltd

What you need to know:

• The situation will improve further, courtesy of a projected increase in exports of traditional crops and rising gold prices, according to the Bank of Tanzania (BoT) 

Dar es Salaam.  The government is optimistic that the dollar crisis will start to ease from next month when the high tourism season begins.

The situation will improve further, courtesy of a projected rise in exports of traditional crops and an increase in gold prices, according to the Bank of Tanzania (BoT).

Tanzania largely depends on tourism earnings and exports of gold and traditional crops for its foreign exchange earnings.

Tanzania relaxes bureau de change rules to curb dollar crisis

Parliament tells government to replenish tourism with cash

Read :  How traders in Tanzania are being ripped off in elaborate dollar racket

Exports of tobacco, tea, coffee, cashew nuts, cotton, sisal and cloves have been rising steadily in recent years, earning the country $953 million last year, up from $628 million in 2021, according to BoT figures.

Tanzania earned $1.3 billion from tourism in 2021, but receipts soared to $2.5 billion and $3.4 billion in 2022 and 2023, respectively.

Gold brought in $2.7 billion, $2.8 billion and $3.06 billion in 2021, 2022 and 2023, respectively.

With projections pointing to a further rise in tourist arrivals and gold prices, BoT is optimistic that foreign exchange challenges the country has faced in recent months will soon be history.

"We anticipate a surge in revenue from tourism beginning this May, coupled with exports of traditional crops such as cotton, sesame and others," BoT director of economic research and policy Suleiman Misango told  The Citizen  on the sidelines of a media training programme on interest-based monetary policy.

As of last week, gold prices rose to $2,353.95 per ounce to extend their record-breaking streak, buoyed by the precious metal’s haven qualities amid the ongoing Middle East turmoil.

According to Dr Misango, the spike will likely improve Tanzania's current account as the country is among Africa’s top five gold producers. Part of the reserves, he said, are being held in gold and therefore likely to benefit from the increase in gold prices.

Dr Misango highlighted expectations for an improvement in the trade balance, attributing it to decreasing inflation in many countries. This, he explained, would increase the purchasing power of consumers abroad, benefiting Tanzania's exports.

Read :  Dollar crunch ‘cost Tanzania oil firms Sh300 billion’

The government has implemented multifaceted strategies to address the foreign exchange crisis, including reducing dependence on dollar imports for commodities that could be locally produced, such as palm oil and sunflower oil. This involved developing improved seed varieties to reduce cooking oil imports.

Additionally, the government waived taxes on solar products to lower import costs, aiming to reduce dependence on the dollars and alleviate its shortage.

Reports also listed proactive government measures taken in the previous year, including providing export credit guarantee schemes and supporting local businesses to boost exports.

Meanwhile, Dr Misango provided statistics indicating positive trends in trade, with exports of goods and services increasing to $13,996 million by the end of December 2023, compared to $11,985 million in 2022. Imports, on the other hand, decreased slightly to $16,224 million from $16,674 million during the same period.

He projected a gradual improvement in the current account deficit, expecting it to reach 3.2 percent of GDP in subsequent quarters, driven by increased tourism and the export season.

In February 2024, the current account deficit narrowed to $2,701.4 million, a significant improvement from $5,133.6 million in the corresponding period in 2023, attributed to moderate import prices and robust export performance.

Prof Abel Kinyondo of the Dar es Salaam University College of Education emphasised the importance of gold in supporting the country during the Covid-19 pandemic alongside the significance of diversifying revenue streams from tourism.

Independent financial analyst Christopher Makombe said the Tanzanian shilling could rally against the US dollar in the coming months, driven by dollar inflows from agricultural exports and the resilience of the tourism industry.

“Recent initiatives by BoT to enhance forex flows through hotel bureaus are a positive step towards propping up the local currency against the dollar,” he said.

In the headlines

Future of Africa's flamingos threatened by rising lakes

Three-quarters of the world's lesser flamingos live in East Africa and more than a million birds at a time can gather at lakes in huge "flamboyances" for feeding and courtship.

CRDB Bank proposes 11 percent dividend growth as profit rises

CRDB Bank’s net funded income grew by 19 percent last year while non-funded income rose by 11 percent, propelled by increased usage of digital channels.

Tanzanian changemaker receives Global Citizen Prize

Lydia accredits the success to the collective endeavor of the Her Initiative team, alongside steadfast partners, donors, and supporters, both domestic and international.

Register to continue reading this premium article

It's free!

Register to begin your journey to our premium content Subscribe for full access to premium content

Access the best of The Citizen's Independent Journalism

The Straits Times

• International
• Print Edition
• news with benefits
• SPH Rewards
• STClassifieds
• Berita Harian
• Hardwarezone
• Shin Min Daily News
• SRX Property
• Tamil Murasu
• The Business Times
• The New Paper
• Lianhe Zaobao
• Advertise with us

China tells mid- to high-end hotels to accept foreign bank cards

BEIJING - Chinese hotels with three-star ratings or more have been told to accept payments with foreign bank cards, as the government tries to make it easier for visitors to travel in the country and give the ailing economy a boost.

Major tourist attractions have also been instructed to accept overseas bank cards, as well as support payments in cash and increase foreign-exchange services, according to a joint statement from departments including the People’s Bank of China and Ministry of Culture and Tourism on April 9.

Visitors from overseas face challenges in making payments in China, where local payment systems have become ubiquitous.

Even vendors at street stalls rarely accept cash anymore, opting instead for platforms such as WeChat Pay and Alipay. 

China has been trying to attract tourists in the wake of the Covid-19 pandemic, when it enforced some of the world’s harshest lockdowns and persisted with restrictions long after other countries had abandoned them.

As part of that, the government has expanded a list of countries whose citizens can enter without a visa. 

China recorded 35.5 million entries and exits by foreign nationals in 2023, according to the National Immigration Administration, a big jump from deeper in the Covid-19 crisis in 2022, but still only about a third of the figure in 2019. BLOOMBERG

Join ST's Telegram channel and get the latest breaking news delivered to you.

• Credit/Debit cards

Read 3 articles and stand to win rewards

Spin the wheel now

Millions of people are traveling to see the total eclipse. Hotels, motels, and skydiving operators are making bank on it.

• Millions of tourists are expected to boost economies in Texas and New York during the eclipse.
• Hotels, an eyeglasses manufacturer, and even skydiving companies are preparing for increased business.
• One study predicted that the eclipse could benefit the US economy with nearly $1.6 billion.

As millions of Americans get ready to watch the total solar eclipse on Monday — an event NASA has described as rare and "spectacular" — the phenomenon stands to lift local economies.

Various industries are poised to benefit from the millions of tourists flocking to cities in Texas, Ohio, and New York , which are on the eclipse's "path of totality" and offer the best views of the ring around the sun.

According to NASA, this year's eclipse is set to last three to four minutes, longer than the last solar eclipse , in 2017. People who miss this one will not be able to see another in the contiguous US until 2044 or 2045, the agency said.

Up to 3.7 million people are set to travel to the path of the eclipse, joining the 31 million people already living along the stretch, according to predictions by the eclipse-tracking website Great American Eclipse .

Visitors are expected to spend big: They'll shell out up to $1.6 billion on lodging, activities, food, and gas, the Texas economic consultancy Perryman Group estimated .

Here are some of the industries seeing big boosts from Monday's eclipse.

Hotels and Airbnbs book out

The budget hotel chain Super 8 has over 300 locations within the path of totality, per The New York Times. About 100 of these hotels are sold out for Sunday or Monday, according to the chain's website.

One two-star Super 8 branch in Grayville, Illinois, is advertising rooms for between $765 and $950 from Sunday through Tuesday. On most days, the rooms typically cost $80, the Super 8 website shows.

Higher-end hotels are seeing similar spikes. A JW Marriott in Dallas listed a standard room for $1,039 for Sunday night. It typically costs between $355 and $482, the website said.

Related stories

Visitors are flocking to Airbnbs, too. As of March 25, occupancy rates for April 7 soared to 88% across 110,000 active listings on the path of totality, according to the vacation-rental-data company AirDNA.

The biggest glasses manufacturer has sold out

People can permanently damage their eyesight by looking straight into the sun during an eclipse, so NASA recommends specific solar-filtering glasses .

The eye-protection guidelines translated into huge sales for some glasses manufacturers.

Tennessee's American Paper Optics, the country's largest producer of protective eclipse eyeglasses, has seen a big jump in sales compared with the total eclipse in 2017.

The company started taking eclipse orders two years in advance, John Jerit, the company's founder, told NPR on Friday. The glasses sold for $1.50 to $2 apiece.

"We've shipped already about 70 million glasses, and I suspect I'm going to approach right at 75 million by the time next week comes," Jerit said.

American Paper Optics sold out of glasses this year after producing about 30 million more glasses than it did for the total solar eclipse in 2017, according to a sales figure on the company's site .

Eclipse skydiving attracts thrill seekers

Some adrenaline junkies seeking a novel vantage point are planning to jump during totality to enjoy the darkness from the sky.

A group of 30 skydivers plans to jump in northern New York on Monday, Fox News reported . Tickets for the dive, hosted by the local company Skydive the Falls, sold out in seven minutes after they went live in January.

"We're going to jump one minute prior to totality, so we can enjoy totality in full under our parachutes," Jason Berger, a co-owner of Skydive the Falls, told Fox News.

A similar event in Dallas sold out of its $250 eclipse skydive tickets, too.

For sun observers on the ground, restaurants are making the most of the celestial phenomenon with eclipse menus and specials. Establishments like Smoothie King, Applebee's, and Sonic are offering special eclipse-themed smoothies and margaritas, as well as "blackout" drinks to mark the occasion.

Watch: A small Australian town was treated to a rare hybrid solar eclipse

• Main content