Every Bhutanese household can expect the annual average income to increase to almost 2.5 million ngultrum or USD 30,000 by 2029. This is according to the consolidated 13th Five-Year Plan document. Annual average household income is the total amount of income earned by all members of a household age 15 or older, whether they are related or not.
According to the Bhutan Living Standard Survey 2022, the annual household income during that year was more than Nu 400,000.
Households in the urban areas recorded an average annual income of almost Nu 600,000, whereas the rural households recorded a mean income of a little over Nu 275,000.
The survey reported that most income in urban households was from wages or salaries; remittances received; real estate deals, sale of assets, interest income, and others; and net income from business.
For rural households, the income mostly constituted wages and salaries, remittances received, pensions, inheritance, social transfer, scholarships, cereals, fruits, and vegetables.
In terms of the district, Thimphu saw the highest annual mean household income followed by Gasa, Paro, and Punakha, and households in Zhemgang and Samtse recorded the lowest annual mean income.
According to the consolidated document, to increase the annual average household income and other outcomes, the lead agencies will initiate policy and regulatory reforms for businesses including reviewing and amending FDI policy.
Besides, the agencies will be developing industrial policy, and enacting competition bill to stimulate effective competition to deliver open, dynamic markets and enhanced productivity for customers.
There will also be initiatives such as constructing a multi-mode transit hub in Gelephu, Phuentsholing, and Samdrup Jongkhar, and establishing railway connectivity at Gelephu among many others.
According to the consolidated 13th Five-Year Plan document, by 2034, household income is expected to increase manifold, with the number projected to reach USD 60,000 or almost Nu 5 M.
Samten Dolkar
Edited by Phub Gyem
