Nepali and Philippine economic models
Nepal, June 15 -- ANepali travelling through Metro Manila or Cebu City in the Philippines will notice a strong cultural similarity to Kathmandu.
Filipinos are famously laid back, just as Nepalis are.The pace of life can be slow, and daily operations run in a form of 'managed chaos' that feels very familiar for someone from Kathmandu.
Like Nepal, the Philippines also relies on exporting migrant worker n 2024, personal remittances from Overseas Filipino Workers (OFWs) reached about 8.3% of their total GDP. Nepal is much more dependent on remittances which account for nearly 25% of its GDP.
However, the Philippines has an economy multiple times larger than Nepal's, yet the level of visible inequality and intense consumerism is striking. ...
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