Improving Quality of Life, One Income at a Time

Nepal has rapidly and effectively reduced poverty across the nation.

Less than three decades ago, 55 percent of Nepali people lived in extreme poverty, defined as earning less than $2.15 per day. Today, the number stands below 0.37 percent. This places Nepal near the top of the list amongst comparable countries to have reduced poverty at such a rapid pace.

As poverty continues to fall across Nepal, the World Bank predicts that economic growth will accelerate broadly thanks to increased hydropower production, high tourist arrivals, an expanded private sector, and remittances flowing into the country from young Nepali people seeking work outside. Though there is a lot of potential, experts say that the nation must continue strengthening its workforce and address infrastructure reforms to ensure its economic growth can match its incredibly impressive poverty decline. Nonetheless, Nepal has set ambitious financial targets that the world is rooting for it to reach.