‘Nepal fastest urbanizing country in South Asia’

Kathmandu: Possibly the least urbanized country in South Asia, Nepal is also the fastest urbanizing nation in the region — and unless the government seriously manages urbanization better, the country could fail to attain economic efficiency from the process, a new World Bank study has warned.

The findings of the study — Urban Growth and Spatial Transition: An Initial Assessment — which the WB disseminated, says urban population in Nepal has grown at more than 5 percent on average since the 1970s, mainly as people moved rapidly to areas of jobs and better economic opportunities.

While that has led some 20 percent of Nepal’s population to presently live in urban areas, the urban areas are together generating about 65 percent of gross domestic product. Given that urban areas serve as powerhouse of economy in any country, the report says Nepal can tap the potential of its cities to leverage their comparative advantages and turn them into competitive advantages, reported Xinhua.  Continue reading →