Can crypto bring the Himalayan kingdom’s economy back to life?
Bhutan, the secluded Himalayan kingdom famed for measuring progress by Gross National Happiness instead of traditional economic metrics, finds itself turning to an unexpected economic savior — Bitcoin.
Historically isolated between economic giants China and India, Bhutan faces persistent economic pressures such as high youth unemployment, limited agricultural land, and a tourism industry still recovering from the pandemic.
With Bhutan’s GDP hovering around $3.02 billion in 2023, tourism previously accounted for more than 10%, bringing in around $334 million. However, tourism plummeted during COVID-19, and numbers have yet to fully rebound.
Prime Minister Tshering Tobgay acknowledged that while Bhutan can accommodate…
