You might be curious as to why Nepal is poor. This landlocked South Asian Himalayan nation is the second poorest country in Asia after Afghanistan.
Here are six reasons:
#1 Corruption
Corruption runs deep in Nepal and this has stunted its economic growth. The country cannot move ahead if corruption goes unchecked. Nepal’s rank in 2016 was 131 and corruption has massively increased post-earthquake, post-constitution era.
#2 Access to Quality Education
Nepal still lags behind in terms of providing quality education. The public schools are in disarray whereas private schools are expensive. The education system in Nepal suffers from outdated reading materials. However, over the years there has been an improvement but there’s still a long way to go. Education became open to the public only after the 1950s in Nepal.
#3 Limited industries
Nepal is highly dependent on agriculture and industries have faced various stagnations over the years. The country is now optimistic that more industries will emerge as powercut is a history but there are challenges ahead.
#4 Poor Infrastructure
Nepal’s infrastructure is not only poor but sub-standard. It only has 1 international airport but is ranked one of the worst airports in the world. The roads too aren’t built properly hence hundreds of people die in road accidents every year in Nepal.
#5 Dependency on Neighbors
Nepal is highly dependent on India and the trade deficit is increasing every year. It needs to diversify its economy. The country has recently connected with China for the Internet. The country needs to open trade routes and seaports in China too.
#6 Political Instability
Nepal has been suffering from political instability since the 1950s. The new Left Alliance government is expected to change this scenario.
What could be other reasons? Share your Thought.