Nepal’s economy is among the smallest in South Asia, with a GDP of about $40 billion as of 2023—comparable to the U.S. state of Vermont. It is considered a low-income country, but it is rich in natural and cultural capital. Agriculture employs about two-thirds of the population, though it contributes only around 25% to the GDP. One of the major economic drivers is remittance: nearly 3.5 million Nepalis work abroad, primarily in the Gulf countries, Malaysia, and India, sending home over $9 billion annually—equal to nearly 25% of the national GDP. This makes Nepal one of the top five countries in the world in terms of remittance-to-GDP ratio. Tourism is another cornerstone of the economy, contributing about 7% to GDP and employing hundreds of thousands of people. In 2019 (pre-COVID), Nepal welcomed 1.2 million international visitors. Tourists come not only for trekking and climbing but also for spiritual retreats, wildlife safaris, and cultural experiences. Nepal’s potential for hydropower is also significant—it has the capacity to produce over 80,000 megawatts of electricity—but only a fraction is currently being utilized. As Nepal modernizes, investments in infrastructure, education, and energy are key growth areas.