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Business Times
18-07-2025
- Business
- Business Times
Bhutan's double bet: Mindfulness and nature to drive tourism and investment
[KUALA LUMPUR] Bhutan, long regarded as one of the world's most serene and isolated destinations, is opening a new chapter – one that seeks to blend its spiritual heritage with modern economic ambitions. At the heart of this transformation is the Gelephu Mindfulness City (GMC), a transformative urban project in southern Bhutan designed to attract high-quality foreign direct investment while preserving the kingdom's ethos of Gross National Happiness. Envisioned as both an economic and spiritual hub, the Mindfulness City represents a bold experiment in development where governance is rooted in Bhutanese values, yet informed by globally recognised frameworks for transparency, regulation and innovation. In June, Bhutan Prime Minister Tshering Tobgay, welcomed about 20 guests, including invited Singaporean media by Chan Brothers Travel, to an exclusive meeting in his office at the capital city Thimphu. Dressed in a traditional gho, the prime minister shared that construction for a new international airport in Gelephu is set to begin in early July, marking a significant milestone for the US$100 billion GMC development – a landmark project designed to attract global investment while preserving Bhutan's cultural and environmental heritage. Paro International Airport is nestled among 5,000 m peaks and is accessible to only 50 specially trained pilots worldwide. PHOTO: TAN AI LENG, BT Strategically located near the Indian border, the airport is intended to serve as Bhutan's second international gateway, easing the burden on Paro International Airport – currently the only port of entry for air travellers. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Spanning 731,946 square feet, the new airport is designed to handle up to 123 flights daily and 1.3 million passengers annually, according to Danish architecture firm Bjarke Ingels Group, which is leading the airport's design. Though modest by regional standards, the facility is a major leap for a Himalayan kingdom that caps tourist arrivals at 300,000 annually. Before clearing immigration and customs, tourists have the unique opportunity to take pictures on the tarmac at Paro International Airport. PHOTO: TAN AI LENG, BT Nestled among 5,000 m peaks, Paro International Airport demands exceptional skill. Only about 50 pilots globally are certified for its challenging, manual and no-radar landings. The new Gelephu airport is expected to transform accessibility and signal Bhutan's readiness to welcome a new wave of visitors, investors and innovators. Former CapitaLand chief executive officer Liew Mun Leong was appointed as CEO of GMC in October 2024. He now oversees the city's strategic direction, infrastructure roll-out and global partnerships. 'GMC is a carefully designed special administrative region – what I call our micro state, three times the size of Singapore, with its own set of rules and regulations,' said the 60-year-old premier. A gateway to growth Bhutan Prime Minister Tshering Tobgay (left) and Chan Guat Cheng, executive director of Chan Brothers Travel, at an exclusive meeting in Bhutan. PHOTO: CHAN BROTHERS TRAVEL GMC, which spans more than 2,500 square kilometres, will be developed in phases over the next 21 years. It is envisioned as a future-ready city hosting sectors as diverse as finance, green energy, education, healthcare, logistics and spirituality – all anchored in sustainability and well-being. To fund early development, the Bhutanese government launched the Gelephu Mindfulness City Nation Building Bond (GNBB) in December 2024. By June 2025, the initiative had raised 3.3 billion ngultrum (S$49.1 million), well above its original target of two billion ngultrum. Singapore has played an instrumental role in advising Bhutan on the legal and institutional design of GMC. The city-state's legal system has inspired the adoption of 18 Singaporean laws into GMC's framework – covering company incorporation, employment law and taxation. 'Singapore is a role model we would like to adopt,' said Tobgay, pointing to the country's strengths in governance, regulation and long-term planning. Reversing the brain drain Tour guides and drivers in Bhutan. According to one of them, it is not uncommon for locals to be proficient in at least four languages, largely attributable to the government's provision of free basic education. PHOTO: CHAN BROTHERS TRAVEL Beyond economic development, GMC is a strategic response to one of Bhutan's most pressing challenges: brain drain. In 2024, youth unemployment was at 19 per cent, prompting many young Bhutanese to seek opportunities overseas – particularly in Australia. The trend has deepened over the past decade, with estimates suggesting that between 50,000 and 65,000 Bhutanese have migrated abroad in the last eight years. 'We are not stopping young talent from going out and exploring the world… But if they don't return, a small country like ours will suffer. In some ways, we are the victims of our own success,' Tobgay lamented. Bhutan offers 12 years of free public education, and youth literacy rates are nearing 100 per cent. More than 1,100 schools span the country, and enrolment among children aged six to 12 is over 98 per cent. 'We hope to create more job opportunities, good-quality and higher paying jobs for Bhutanese via GMC,' said Tobgay, who himself once revealed that he struggled to find a suitable job after returning to Bhutan from Harvard. In Bhutanese monasteries, it is common to see elderly devotees bowing and praying reverently on their hands and knees. PHOTO: TAN AI LENG, BT Bhutan's cultural identity remains resilient despite the external pull factors. Traditional attire – gho for men and kira for women – remains common in everyday life. Despite its undeveloped, rustic charm, the country reveals an unexpected intellectual depth. Travellers are frequently amazed by the locals' strong command of English and their widespread multilingual abilities, with many tour guides proficient in at least four languages. Dago Tshering, who guided the media, is fluent in six languages: Dzongkha, English, Mandarin, Hindi, Japanese and German. Despite receiving offers to work overseas, he chose to remain in Bhutan. His reason was simple – family and the simplicity of life back home. Bhutan's home-grown brand Mountain Cafe, which sources and roasts beans from local farmers. PHOTO: TAN AI LENG, BT Echoing this principle, even if Bhutan is opening its doors to foreign investment, Minister of Industry, Commerce and Employment Lyonpo Namgyal Dorji emphasised that collaborations will be carefully selected to align with the country's values-driven development approach. 'In principle, it is not necessary for us to import foreign brands, if we have our own alternative and better options,' said Dorji in a meeting with the media. He pointed to the home-grown brand Mountain Cafe, which sources and roasts beans from local farmers. 'Even without international franchises like Starbucks, we are not feeling deprived. We hope to offer tourists something unique that only could be found in Bhutan,' he added. South-east Asia tourists in focus Tashichho Dzong, a prominent fortress and Buddhist monastery in Thimphu, Bhutan. This spiritual nation is home to over 2,000 monasteries and temples. PHOTO: TAN AI LENG, BT As hydropower and agriculture continue to dominate its economy, Bhutan's government recognises diversification as crucial for sustainable growth and long-term resilience. Tourism, which presently accounts for about 10 per cent of Bhutanese gross domestic product, is targeted for revitalisation with an ambitious goal: to boost its contribution to 15 per cent by 2030, returning to pre-pandemic levels. But Bhutan remains committed to its 'low volume, high value' approach. Rather than attracting mass tourism, the country aims to offer curated experiences focused on culture, wellness and nature. One of the must-visit destinations in Bhutan, the Tiger's Nest Monastery. The temple, which perches at 3,120 metres, draws thousands of tourists annually. PHOTO: TAN AI LENG, BT Known as the 'Land of the Thunder Dragon', Bhutan is home to more than 2,000 monasteries and temples. One of the most famous, the Tiger's Nest Monastery, which perches at 3,120 metres, draws thousands annually. But the prime minister said there are still more hidden gems for tourists to explore in Bhutan. 'We want visitors to go beyond the monasteries… Cycling through our valleys, engaging with local farmers, going for a concert or even having a memorable wedding in Bhutan – these are the kinds of experiences we want to offer.' While India remains the top source of visitors, accounting for around 70 per cent of all arrivals, Bhutan is actively courting travellers from the South-east Asia region in hopes of rebalancing the ratio to 50:50 within the next few years. 'India will always be an important partner, but for Bhutan to grow as a global destination, we need to diversify,' said Dorji. To further encourage more tourists to come to Bhutan, the government has reduced its sustainable development fee to US$100 a person a night from Sep 1, 2023, from US$200 a night. In 2024, Bhutan welcomed 145,065 tourists, around 40.7 per cent higher than the 103,066 in 2023. But tourist arrivals still fall short of the 150,000 target. For 2025 and 2026, the country has set a target to attract 300,000 tourists. Rising interest from Singapore travellers Bhutan's Minister of Industry, Commerce and Employment Lyonpo Namgyal Dorji (back row, fifth from right), with representatives from Chan Brothers Travel and the media. PHOTO: CHAN BROTHERS TRAVEL Singapore, Bhutan's third-largest source of tourists after China and India, is a key focus. Last year, 3,200 Singaporeans visited Bhutan, up from the typical 2,000 annually. As at June this year, 1,200 had already arrived, suggesting continued growth. Chan Brothers Travel's executive director Chan Guat Cheng emphasised Bhutan's unique appeal: 'Singapore alone has more than five million outbound tourists annually… With a rising number of tourists seeking more nature, peace, and spiritual and adventurous travel, Bhutan stands out from others to attract more tourists.' On Jul 4, Chan Brothers Travel and Drukair formalised their partnership by signing a memorandum of understanding in Singapore. This agreement lays the groundwork for more exclusive chartered flights between Singapore and Bhutan. She noted that in response to growing interest, the number of chartered flights has expanded significantly, from six last year to a total of 30 scheduled across this year and next, reflecting strong demand for travel to Bhutan. As Chan Brothers Travel celebrates its 60th anniversary this year, the Singapore-based agency is advancing its strategic vision with a series of Bhutan tours. These tours will be operated via exclusive chartered direct flights by Drukair, Bhutan's national carrier. 'As the sole travel agency offering such privileged air access, we are looking at deepening collaboration with Bhutan's Department of Tourism,' she said.
LeMonde
09-07-2025
- LeMonde
In Bhutan, yaks are in danger in the land of happiness
On a spring evening, on the windswept plain where the horizon is blocked by the snow-capped mountains of the Tibetan border, the scenery perfectly embodied the virtues of an age-old pastoralism. Amid the splendid immensity of these lands, battered by an icy wind, herds of yaks grazed at an altitude of 4,000 meters on this plateau stretching as far as the eye could see toward the Himalayas. A little further down, the large village of Laya – the highest in the Kingdom of Bhutan – sat on the hillside, its traditional houses adorned with intricately carved wood. These big-cheeked, shaggy and horned cattle, however, have reason to worry about their future – not to mention their herders. In recent years, the species has begun to suffer the effects of climate change: pastures overrun by invasive shrubs, grazing grass becoming scarcer and of poorer quality, transhumance disrupted by the earlier arrival of spring, and shrinking herds. The threats have multiplied, in Bhutan as well as in other areas of the region (India, Tibet, China, Pakistan, the Pamir mountains in Tajikistan) where these animals have, for ages, embodied a kind of postcard image of the "happy Himalayas." For several decades, Bhutan has been known worldwide for inventing the notion of "Gross National Happiness," a unique concept enshrined in its Constitution in 2008. About 30 years earlier, in 1972, the king at the time, Jigme Singye Wangchuck – father of the current monarch – had determined that his Buddhist nation needed an index that would highlight the country's spiritual values and distinguish them from the purely capitalist ones found in the rest of the world.
South China Morning Post
04-07-2025
- Business
- South China Morning Post
Fallen world must ensure justice for future generations
Coming back from an extended conference on ' Gross National Happiness ' in Bhutan, one of the world's first carbon-negative countries, I became aware that intergenerational justice may be one of the most important moral questions we face today. The world is drowning in debt. According to the International Monetary Fund (IMF), global debt amounted to US$250 trillion in 2023, or 237 per cent of GDP, with global private debt at more than US$150 trillion. Advertisement Meanwhile, worldwide net private wealth stood at US$454.4 trillion in 2022. If global private wealth is so much larger than global debt, is the latter actually a problem? It is if the world's wealth is distributed unevenly . Around 1 per cent of the world's adult population controlled US$208.3 trillion in 2022, or 45.8 per cent of the global total. Wealth is only getting more concentrated as the rich get richer. So even while GDP is rising and stock markets are hitting record highs , many people are still unhappy because they are being left behind. Wealth is passed down from generation to generation, but with the gradual dismantling of inheritance tax in many countries and expanded tax cuts for the rich, such as in the United States , wealth has been retained in wealthy hands. The UBS Global Wealth Report 2025 forecast that 'a total global wealth transfer of over US$83 trillion within the next 20-25 years. Some US$9 trillion of this will be horizontal and over US$74 trillion will be vertical, between generations, i.e. roughly 12 per cent.' In other words, most wealth is not distributed widely but gets passed down to successors and heirs At the household level, the bottom half of society not only does not have much wealth, they are also in debt . The IMF, however, is more concerned with the rise in public debt, which is the burden of all citizens, including future generations. After all, future generations inherit not just assets but also liabilities. Advertisement The poor are also subject to higher interest rates on their debt because they are perceived as a higher credit risk. Thus, when incomes are insufficient to pay both the interest and principal, the poor – including many developing markets – get further into debt distress
Time of India
30-06-2025
- General
- Time of India
Poonawalla school in Baramati scales global heights as green champions
Vidya Pratishthan's Dr Cyrus Poonawalla School in Baramati has secured the 8th rank in National Green School Ranking 2025. The recognition comes from Green Mentors, an international organisation associated with Economic and Social Council of the UN. Tired of too many ads? go ad free now The accomplishment has earned the school a place at the 9th NYC Green School Conference on Sept 23 and 24 in New York City. The school will represent India, sharing its innovations and leadership in environmental education. Their dedication to eco-friendly practices, sustainable initiatives and environmental awareness campaigns distinguished the institution. Integration of traditional wisdom with 21st-century skills impressed the delegation. The educational journey and embassy meetings were organised by Dhaval Apte. India-Bhutan education ties grow stronger A team of CBSE school principals from Pune and Mumbai recently visited Bhutan to exchange progressive practices in value-based and holistic learning. The tour centered around Bhutan's globally admired philosophy of Gross National Happiness which integrates emotional, spiritual, and environmental well-being with academic growth. The delegation was led by Deepali Shirgave, principal of Vishwakalyan English Medium School in Chikhali in Pune. Principals Nikita Kothari (Indo-Scot School Mumbai), Ashwini Pansare (Abhinav Public School and Junior College Pune), Suhas Tohgaonkar (Prodigy Public School, Wagholi), Renu Patil (Heritage International School, Mulshi), Maheshwari Chougule (Narakes Panhala Public School & Junior College, Kolhapur) and Sunita Pant (SSSS Global School, Mumbai) accompanied her. Tired of too many ads? go ad free now They interacted with Bhutan's ministry of education officials and Niteen Yeola, deputy commissioner in Bhutan and Tashi Chhetri, director of department of school education in Bhutan, and got a first-hand understanding of the country's happiness-driven, student-centric learning model. Sukhvinder Singh, first secretary of education at the embassy in Bhutan coordinated panel discussions and collaborative sessions. The guests got a guided tour of Druk School in Thimphu where they observed students practicing mindfulness, critical thinking and cultural values in daily learning. They also studied how schools promote ecological responsibility and harmony with nature at an early age which resonate with National Education Policy 2020. Shirgave said, "This collaboration is a meaningful step towards shaping compassionate, globally aware, and emotionally intelligent learners. These shared best practices will help foster more inclusive, mindful, and value-rich classrooms in India."
Indian Express
24-06-2025
- Politics
- Indian Express
E-commerce, market-driven lifestyle weaking human bonds: Hosabale
Rashtriya Swayamsevak Sangh general secretary Dattatreya Hosabale on Tuesday said e-commerce and a market-driven lifestyle adversely impacted basic human bonds and relationships. He was speaking at a book release function held in Mumbai. According to him, the e-commerce and market-driven lifestyle were detrimental and weakened social bonds, altering the fundamentals of human relationships. The senior RSS functionary was speaking at the launch of the book Integral Humanism: A Distinct Paradigm of Development by Ashok Modak, published by the Indian Council of Social Science Research. According to Hosabale, 'A market-driven, government-oriented life was damaging for society as it adversely impacted human equations. E-commerce is a glaring example. It has reduced relationships to mere transactions.' While underlining the seriousness of such lifestyle and its overall impact on the individual, family and society at large, he said, 'If I want to get Modak's book in a village in Tamil Nadu, I can easily order it online. It seems convenient. I pay and they deliver. But is it really that simple? Earlier, traditional marketplaces were rooted in long-standing relationships. It has special connected. A human bond. Which evoked sentiments. In the past, a farmer would borrow from a trader who knew him and his family for years. Now, such things are unimaginable. Everything is personal, individualistic.' He added, 'Will Amazon ever understand or replicate that kind of trust? It is faceless. We are slowly losing the essence of such human connections.' Hosabale cited how in the United States, society has practically disappeared. Only individuals and the state were left in that country. This disconnect and lack of emotions is worrying. 'This model of a welfare government and a market-centric life is not sustainable for a healthy society,' he said. The senior RSS functionary raised an alarm about the modern world's approach to nature and lifestyle, highlighting changes in living standards, which have over the decades become essential aspects. 'We cannot live without electricity, but we must think about how to generate it efficiently and integrate it into our lives in a way that respects the environment,' Hosabale said. Another significant point he made was that education should focus on imparting values and not just disseminating information. 'The new knowledge must be created to build a cohesive society,' he stressed. Referring to Modak's book, Hosabale said, 'The western world view revolves around individual rights, survival of the fittest, and exploitation of nature. A human being is part of society, and society cannot exist without nature.' The RSS leader lauded Bhutan's Gross National Happiness model as an alternative vision to economic indices. 'Human and societal well-being are complementary. They cannot exist without nature,' he said.
