Economics Explained
Bhutan: The Country That Doesn’t Want to Be Rich
Dec 5, 2023
Bhutan, a country in the Himalayas, intentionally makes itself unattractive to regular tourists to protect its unspoiled landscape and culture. It has high prices and restrictions for tourists, and bans mountain climbing. Bhutan's unique economic philosophy focuses on gross national happiness and utilizes its mountainous terrain for hydroelectric power and Bitcoin mining.
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Quick takeaways
- Bhutan prioritizes preservation of culture and environment over maximizing tourist revenue.
- Bhutan's unique economic model faces challenges due to geographical location and lack of resources.
Deep dives
Bhutan's Unique Approach to Economic Management
Bhutan, a small country in the Himalayas, has chosen to prioritize gross national happiness over gross domestic product for the past 50 years. The government intentionally restricts tourism and makes it expensive, focusing on preserving the country's unspoiled landscape and culture. Despite the low cost of living, only the wealthy can afford to visit Bhutan. While this may limit potential tourism revenue, the government prioritizes maintaining its natural beauty. Bhutan's economic output is small, relying on subsistence agriculture, cottage industries, and hydroelectric power from snow melting in the mountains.
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