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.