Tag: remittance

Every year, thousands of Nepalis leave home in search of better opportunities abroad. From the Gulf countries to Malaysia, Korea, Japan and Europe, migrant workers continue to send billions back to Nepal — keeping families and, in many ways, the national economy running. But an important question remains: Is Nepal becoming too dependent on remittance income? 💸 Remittance Still Powers Nepal’s Economy According to World Bank data, remittances accounted for nearly 27% of Nepal’s GDP in 2023, placing Nepal among the world’s most remittance-dependent economies. Experts say remittance plays a major role in: Supporting household expenses Funding education and healthcare Boosting foreign currency reserves Maintaining daily economic activity Nepal also receiv...