Sauharda Sigdel

22133
(All Dates mentioned in the article are in AD)

Article on:
Impact of change in trend of Socio-cultural sector in Economy and Business Environment
Everything in society is closely related to the nation's economy and business environment. Sociocultural
factors push customers to alter their preferences, tastes, and needs. This has an impact on how businesses
operate and also on how the country's economy is structured.
Every ten years, Nepal conducts a comprehensive Census. The Central Bureau of Statistics does it using
the U.N.-emphasized scientific methodology. The major highlights of census 2021 as per preliminary
report of Nepal's central bureau of statistics and its impact to economy, is briefly studied an in this article,
There are now 29,192,480 people residing in Nepal as of the 2021 census, an increase of 2,697,976 since
there were 26,494,504 people 10 years before. The falling population growth indicates a low birth rate.
The declining population growth implies a low birth rate, which causes the working-age population to
decline and brings in an economic crisis. Also, The GDP increased from 21.57 billion USD in 2011 to
36.29 billion in 2021, which may have been influenced by population growth.
Terai has a population of 53.66% of the whole population. In hilly and mountainous areas, respectively,
40.25 and 6.09 percentage of the population resides. The key factor driving population expansion at
company offices, schools, hospital, and metropolitan areas is accessible facilities. Also, almost 2,169,478
Nepalese have emigrated by the year 2021, up from 1,921,494 in 2011. In compared to the last census, the
number of women travelling to other countries has surged by 71%, according to the census report. It has
aided in increasing the amount of remittances that are sent to the country. Remittances account for almost
30% of Nepal's GDP.
Nepal's fertility rate is expected to decrease from 2.516 in 2011 to 1.853 in 2021, according to the World
Bank's latest Population and Housing Survey. The average family size has shrunk from 4.88 in the
previous survey from 2011 to 4.33 now. Larger families dedicate more of their cash to needs and less to
pleasures. The consumption pattern of Nepalese households has altered as a result. We can relate that, less
economic development results from the decline in family size since there is less demand for products and
services for the family.
The male to female sex ratio is 95.91, which is a little higher than the 94.16 from the 2011 census. The
number of men is growing, but the population of women is still larger than that of men so, both genders
can involve in economic activities equally.
The ratio of houses to families has risen from 1:1.18 in 2011 to 1:1.20 in 2021. This shows that a lot of
households don't own homes and live in rentals. This demonstrates the family's poor property position.
So, we may infer that any trends and development linked to changes in attitudes, behavior and values in
society and can directly generate an impact to Nation's Economy and Business environment.