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Data is Nepal's New Oil: Path to Prosperity through Business Analytics
Nepal's economy has traditionally relied on agriculture and remittances from migrant workers. The agricultural sector employs approximately 65% of the population and contributes significantly to GDP (around 24-31%). However, this sector is characterized by low productivity and the prevalence of traditional farming methods. Remittances, which constitute a significant share of GDP (e.g. 21-25% of GDP8), create a certain economic stability, but also carry the risks of the so-called "Dutch disease" - excessive dependence on one source of income, which can negatively affect the development of other sectors.8Nepal's economic growth forecasts vary: World Bank sees 4.5% in FY2513, Asian Development Bank (ADB) – 4.4% in FY2515, International Monetary Fund (IMF) – 4.0% for 2025, while the Government of Nepal posted 4.61% in FY24/25. These figures point to potential, but also to the urgent need to find new, sustainable growth drivers. Structural problems such as low labor productivity, weak competition in logistics, infrastructure shortages and the ongoing "brain drain", require innovative approaches, and this is where data and business analytics can play a key role.
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By Alpha Business MediaNepal's economy has traditionally relied on agriculture and remittances from migrant workers. The agricultural sector employs approximately 65% of the population and contributes significantly to GDP (around 24-31%). However, this sector is characterized by low productivity and the prevalence of traditional farming methods. Remittances, which constitute a significant share of GDP (e.g. 21-25% of GDP8), create a certain economic stability, but also carry the risks of the so-called "Dutch disease" - excessive dependence on one source of income, which can negatively affect the development of other sectors.8Nepal's economic growth forecasts vary: World Bank sees 4.5% in FY2513, Asian Development Bank (ADB) – 4.4% in FY2515, International Monetary Fund (IMF) – 4.0% for 2025, while the Government of Nepal posted 4.61% in FY24/25. These figures point to potential, but also to the urgent need to find new, sustainable growth drivers. Structural problems such as low labor productivity, weak competition in logistics, infrastructure shortages and the ongoing "brain drain", require innovative approaches, and this is where data and business analytics can play a key role.