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Current Developmental Challenges In Nepal: How Can The Diaspora Help?, Ambika P. Adhikari

Himalayan Research Papers Archive

Nepal now enjoys a unique opportunity to positively transform the country’s economy and society. The economic activities fueled by remittance, supported by foreign aid, and aided by domestic economic activities such as tourism, trade, and services, including start-ups, are helping increase individual incomes. However, the earnings from remittances, which measure to about 25% of Nepal’s GDP, are spent on consumer goods and not on investments that can generate employment and raise the standards of living. The foreign aid is often donor driven and also not always well managed and wisely spent on national priorities. Further, it is frequently marred by …