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Journal of Emerging Markets and Management

Prospects of Rural-Based Businesses in Pursuit of a “Gross National Happiness Economy”: Transforming the Bhutanese Economy into a “Beating Heart”

DOI:

https://doi.org/10.63385/jemm.v1i2.109

Keywords:

Bhutan, Buddhist Economics, Gross National Happiness, Small-Sized Enterprises, Social Capital, Social Entrepreneurship

Abstract

This study examines two Bhutanese business entities that have achieved commercial viability while nurturing rural social relationships and arrangements that enhance community vitality—one of the key priorities of Bhutan’s Gross National Happiness (GNH) vision. There is significant potential to replicate similar rural enterprises across Bhutan, guided by Buddhist-inspired models of business management. The Buddhist teachings underpinning GNH, including those relevant to business practices, can support the replication of like-minded enterprises that create income-earning opportunities throughout rural areas by fostering mutually beneficial stakeholder relationships and cultivating inner contentment within entrepreneurs and producers. Drawing lessons from the two enterprises, the study explores how Bhutan’s economy can build sustainable foundations for decent rural livelihoods—much like the “beating heart” circulating lifeblood throughout the body—thereby addressing the risk of widening urban–rural disparities in income and population distribution. At the same time, it is crucial to examine whether the ongoing success of Buddhist-based business models, represented by the two enterprises, depends on favorable structural conditions and whether such enterprises can be effectively replicated outside Bhutan, given the cultural specificity of their Buddhist-informed practices. Against this backdrop, further research is needed to explore how Buddhist-inspired business models, centered on individual moral agency, can navigate the pressures of dominant market structures—even within Bhutan. It is also important to consider how these locally grounded approaches, as demonstrated in this study, may inform broader alternatives to competitive market economies while balancing global relevance with Bhutan’s unique socio-cultural context.

References


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    Copyright (c) 2025 Katsu Masaki, Jit Tshering

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