The Unsung Heroes of Nepal’s Economy
Summary
Nepali migrant workers contribute significantly to Nepal's economy by sending home substantial remittances that support household consumption, foreign currency reserves, and national development. The UAE and Gulf countries are key destinations for Nepali workers, offering safe employment and fostering economic ties.
Key Points
- Nepali migrant workers sent home Rs 1.72 trillion in the past fiscal year, supporting Nepal's economy significantly.
- Inward remittances in 2023 surpassed USD 11 billion, about 26.6% of Nepal's GDP, exceeding foreign investment and official aid.
- The UAE and Gulf countries provide key employment opportunities with progressive labor protections for Nepali workers.
- Remittances improve living standards, reduce poverty, and fund education, healthcare, and community development projects across Nepal.
