Bhutan Turns Out To Be A Gold Mine For Tourists
Royal Government on Feb 21, 2023, announced duty-free gold for biscuits of 24k up to 20gm for male and 40gm for women tourists
The 169-foot tall Great Buddha Dordenma is the main tourist attraction in Bhutan. The majestic Shakyamuni Buddha statue near Thimphu in the mountains of the Himalayan Kingdom built at a cost of over $100 million has over one hundred thousand smaller Buddha statues, each of which, like the Great Buddha Dordenma itself, are made of bronze and gilded in gold
Thimphu (Bhutan): The talk of availability of the world’s cheapest gold in the tiny Himalayan Kingdom of Bhutan is slowly attracting many tourists from various parts of the country.
The Royal Government of Bhutan on February 21, 2023, announced duty-free gold for biscuits of 24 karat up to 20 grams for male and 40 grams for women tourists in order in connection with double auspicious day viz. birth anniversary of the King and Losar, the Bhutanese New Year to boost tourism.
Bhutan suffered a severe blow during the pandemic. Unlike other countries, Bhutan charges a Sustainable Development Fee (SDF) for Indians and other foreign tourists. It collects Rs1,200 per night of stay for Indians and $100 per night of stay for others as part of resolve to protect its environment and ensure sustainable development.
One can buy gold at duty free shops at Thimphu and Phuentsholing provided they submit receipt of payment of SDF and stay at a Tourism Department-certified hotel for a night on payment of US dollars. Duty-free shops, which sell perfume, liquor and few other luxury items are run by Bhutan’s Finance Ministry.
Interestingly, the value of Indian rupee and Bhutanese currency Bhutanese Ngultrum are the same and rupees are accepted in all hotels and shops in the kingdom. Though buying gold at a cheaper price is legal in Bhutan, tourists allege that officials at the border posts harass them and try to fleece with a threat to slap heavy customs duty as penalty for trying to smuggle the yellow metal into India.
Tourism accounts for five per cent of GDP-the second after agriculture and forestry - on which 60 per cent of people of Bhutan depend for their livelihood.
SDF was introduced to support development. SDF is valid till August 31, 2027. However, the government may discontinue or increase or decrease the amount anytime depending on requirement.
Though in limited number, it attracts several eco-friendly and leisure tourists for its iconic attractions like Phuentsholing, Tashichho Dzong, Dochula Pass, Chimi Lhakhang, Rinpung Dzong, Tiger’s Nest, Punakha, Paro and capital city of Thimphu. It has several monasteries, lush-green forests, with the world’s highest happiness index. Bhutan, popular for its mesmerising greenfields, misty mountains, gorgeous vistas, fragrant flowers and a faint trace of colonial past, has also earned the reputation as the world’s only carbon-negative country with almost zero crime rate.
Bhutan which received $88.63 million tourism revenues saw them nosediving to $3 million due to lockdown imposed after Covid-19. In 2023, it launched a campaign to promote tourism from the USA, UK, India, Singapore, Germany, Vietnam, Malaysia, Australia and Canada. The target set for attracting 5.85 lakh tourists and $58.9 milion forex appears a Herculean task as the country could get $13.5 million from tourism during January-August of 2024. One of the main focus areas of Bhutan Government is not to spoil the environment by encouraging commercial tourism as the country is now facing severe threat of climate change due to melting of glaciers causing floods, frequent seismic activity and landslides.
