Market Research in Nepal
Neighborhoods
In the continent of South Asia is the country Nepal. China shares a border with Nepal, and much trade takes place between the two countries. China is more or less Nepal’s leading supplier.
Many people call it the roof of the world because the famous Mount Everest lies between Nepal and Tibet. Nepal is one of many mountainous countries. Yet, it attracts millions of tourists a year. The main reason is that it has the base camp of Mt. Everest.
Nepal is also a mecca for lovers of outdoor sports. Its offerings range from skydiving to rock climbing.
Trends
Small business is the backbone of the Nepalese economy. Many of these companies are female-owned.
Another trend is the rise of co-working in Nepal. The demand for workspaces is growing, and an increasing number of young people are engaging in startups. New business ventures are on the rise. Most of these shared office spaces are in Kathmandu, and they provide the basics like power, Internet, and meeting rooms. They’re great for new businesses because they come at a low cost. One of their greatest benefits is that they allow small business owners to network.
Customer Base
With over 28 million people, Nepal needs quite a large number of resources. It has a trade deficit, but that can change with suitable investments into the country.
Imports to Nepal include food, cars, iron, steel, gold, oil, and clothes. Nepal’s main trading partners are India and China.
Nepal’s main religion is Hinduism which over half of the people follow. So, decorated scarves and robes are in pretty high demand. Jewelry is also quite popular for Hindu women. Nepalese people often buy gold and silver pieces.
Key Industries
The key industries in Nepal are brick and cement production, tourism, and textiles. The country also produces sugar, cigarettes, rice, and carpet mats.
Tourism is also an area from which the country profits. The many attractions give the country a high rating. Nepal also benefits from foreign exchange earned from tourism.
Reasons to Grow a Business in Nepal
Nepal is a great country to invest in because its laws and policies are friendly to the private sector. It offers tax holidays to foreign investors and it has cheap labor. It is also a great country to grow your business because it is a tourist hotspot.
Restaurants and hotels do well because of the number of tourists that travel to Nepal. The government allows foreigners to own land in their companies’ names, so it’s easy to acquire the property to start such a venture.
The country also has a good infrastructure for other businesses. Besides tourism, Nepal does quite a bit of agri-processing. Potential investors can also find opportunities in human resource development and IT services.
Having unique ideas for a business that is not already commonplace in Nepal can also be an excellent investment. Your business can be the sole producer of a great product that’s in demand.
As a potential investor, you can look at the things that the country tends to import. Investing in one of these things can have a very profitable outcome.
About Market Research in Nepal
Are you looking for an excellent investment? Are you interested in investing in Nepal? We are here for you. We offer Quantitative, Qualitative, and Strategic research for the Nepalese market. Also, to aid in your decision to invest in Nepal, we have Focus Groups. We also use methods such as Interviews and Surveys to determine the right entry point for a business. When you’re looking to grow your business or to invest in Nepal, we’re here to answer any questions you may have.