The Bhutanese Leading the way.
Bhutan is transitioning fast into the digital age, and hence incorporating features to develop its digital economy. His Majesty The King has also addressed the importance of technology and embracing it and leveraging it in 2019, during the convocation of Royal University of Bhutan’s (RUB) graduates.
Bhutan’s first step to digitization was the introduction of Internet in 1999 and according to World Bank data, individuals using the Internet stands at almost 86 percent of the population in 2021.
The country is steadily improving its Internet infrastructure, with plans of introducing a Third Internet Gateway also.
His Majesty, during His Address on the 112th National Day, again emphasized the necessity for Bhutan to capitalize on emerging technologies. In line with His Vision, the government launched the Digital Drukyul Flagship program, which aims to use Information and Communication Technology (ICT) to transform Bhutan.
Bhutan is also mining digital assets, which is currently the revenue behind the 50 percent pay hike for the civil servants.
The government is also incorporating blockchain technology for the National Digital Identity which was recently passed in the parliament.
The Gyalpozhing College of Information Technology (GCIT) is a college dedicated to empowering tech savvy generation for the future with the vision to be a leading institution in software technology and interactive design that produces future ready graduates with commitment to academic excellence, innovation, and social responsibility.
According to students of GCIT, their courses are relevant to the job market with huge opportunities. Tashi, who is in his third year, shares his commitment to study well. “As I was not familiar with the programming language, I struggled a bit initially. However, I have adapted to it and I’m learning it diligently and effectively. Computer Science Programs are not only relevant in Bhutan but also outside.”
Dorji, another student shares that learning ICT based program gives him reassurance. “As I delve into the world of technology through my Computer Science degree, I can only describe the experience as boundless. Unlike other fields, tech has no limits, it’s a realm where our imagination, and skills can venture into the unknown to define what we can do.”
“The popularity and awareness of tech in today’s world has given me a sense of reassurance, knowing that job opportunities and income won’t be a concern, allowing me to focus on honing my skills and building connections in the field. So far, my journey has been gratifying, and I can’t wait to see what exciting opportunities lie ahead,” he pointed out.
Currently, the education system is going through a reform. To make graduates relevant in the job market, employable courses are introduced with old courses re-phased. From a young age, children are learning coding, a module called Code Monkey.
Digital freelancing has also been incorporated in the country, with the Ministry of Industry, Commerce and Employment (MoICE) providing opportunities and training platforms.
The concept of e-Commerce is also gaining popularity in Bhutan, as there are several local businesses going online and various e-Commerce businesses emerging. These e-Commerce platforms, like Azha Pasa and Zala Bt are some examples of popular online stores.
An online system called Bhutan Trade Fin Net has also been launched to facilitate cross-border trade and transaction by automating and integrating import licenses in December 2022.
According to Royal Monetary Authority’s (RMA) 1st quarterly report on payment system of 2023, the mobile and Internet banking services constitutes of 37.22 million transactions amounting to Nu 125.77 billion.
QR code payment constitutes of 27.78 million transactions amounting to Nu 19.76 billion.
In Q1 2023, mobile and internet banking dominated the domestic payment space followed by QR code payment in terms of volume and terms of value, which was followed by paper cheques and electronic fund transfers.
This suggests an increasing adoption of digital banking channels and higher-value transactions conducted through these platforms. The data reflects the convenience, accessibility, and trust individuals and businesses have in mobile and Internet banking services for their financial needs.
As digital financial services improve, there are chances of the country being able to move to digital jobs and remote working. There are few people in the country that make good money or aspiring digital freelancers that hope to make good money.
However, their complaints are always of the Payment Gateway, which curtails remote working opportunities and digital freelancing.
As Bhutan moves to digital economy, good Internet infrastructure and good international Payment Gateway are much needed.
Namgay, a digital freelancer whose wish is to retire as a digital nomad, shares the sentiment that there are huge opportunities, in terms of earning good money. “Bhutanese are talented, and we can pretty much do anything if we put our mind on it. However, the problem is with the Payment Gateway. Even if we are connected to Paypal or maybe Apple Pay, it will pretty much open many opportunities.”
Currently, most digital freelancers or remote workers use Payoneer for receiving payment. He said, “Unless we get huge money, its better not to withdraw because Payoneer charges certain amount of money, and banks in Bhutan also do the same. So, for little projects, it can be a loss.”
Currently, most Bhutanese do digital freelancing on Upwork and Fiver. As ICTisation is given the forefront with its importance addressed, in the future, there will be many graduates that will be able to earn good money through digital works.
It will also give rise to many tech-based company and create digital job opportunities. However, there is a need for improvement in the Internet connectivity, and the Payment Gateway to be able to keep up with the changes.
