Gold will be available for purchase in the Bhutanese cities of Phuentsholing and Thimphu.
Tourists visiting Bhutan, who pay the 'Sustainable Development Fee' (SDF), can now buy duty-free gold in Phuentsholing and Thimphu. According to Bhutan's national media outlet, Kuensel, the decision was taken by the Department of Tourism (DoT) in partnership with Bhutan Duty-Free (BDF) to mark the birth anniversary of Bhutan's King and Losar, the Bhutanese New Year.
The new scheme is expected to benefit Indians the most, who are among the largest cohort of tourists visiting Bhutan. As per the outlet, all SDF-paying tourists will be eligible to purchase duty-free gold as long as they spend at least one night at a Department of Tourism-certified hotel. The gold will be available for purchase from March 1, in the Bhutanese cities of Phuentsholing and Thimphu.
"To mark the double auspicious day (Birth Anniversary of His Majesty The King and Losar, the Bhutanese New Year), the Department of Tourism (DoT) in partnership with Bhutan Duty-Free (BDF) will sell limited quantities of duty-free gold for SDF-paying tourists," the media outlet stated.
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"All SDF-paying tourists will be eligible to purchase duty-free gold as long as they spend at least one night at a Department of Tourism-certified hotel. The gold will be available for purchase from March 1, in Thimphu and Phuentsholing," it added.
Further, as per the report, the gold will be sold by duty-free outlets which normally sell luxury items and are owned by the Bhutanese finance ministry. Apart from being tax-free, Bhutan's duty-free outlets "will not make any profit as the aim is to promote tourism".
Notably, 10 grams of 24-carat gold in India (as on February 27, 2023) costs Rs 51,400. The same amount of gold costs Bhutanese Ngultrum (BTN) 40,286 in Bhutan.