The NEPSE Journal
Market commentary, data deep-dives, and trading notes from the NEPSE Trading desk.
Nepal’s accommodation and food service wages rose 2.03% in FY 2024/25, with the index at 102.70. The rebound reflects recovering tourism demand, improving incomes for hospitality workers, but also raising cost challenges for employers.
Nepal’s transportation and storage sector wages rose 2.95% in FY 2024/25, reaching an index of 103.57. Growth above the national average reflects expanding logistics demand, though employers face rising costs and efficiency pressures.
Nepal’s wholesale and retail trade wages rose 2.34% in FY 2024/25, reaching an index of 102.79. Workers gained from rising consumer demand, but employers face the challenge of balancing wage growth with tighter margins in a competitive market.
Nepal’s construction wages rose by 1.63% in FY 2024/25, with the index at 102.16. The growth remains below the national average, reflecting both steady labor demand from ongoing projects and cost-control challenges faced by the sector. While workers gain marginally, employers continue to struggle with material cost volatility and financing issues.
Nepal’s manufacturing wages grew only 1.34% in FY 2024/25, reaching an index of 101.81. Growth slowed compared to earlier years, reflecting weak demand and cost pressures. The sector lags behind agriculture, ICT, and finance, showing Nepal’s wage momentum is shifting toward service-oriented industries.
Nepal’s agriculture, forestry, and fishing wages rose 4.78% in FY 2024/25, with the index reaching 105.54. As the country’s largest labor sector, this surge boosted rural incomes but also raised concerns over higher labor costs and potential food price pressures.
Nepal’s Salary and Wage Index rose 2.63% in FY 2024/25, reaching 103.22. Agriculture (+4.78%), ICT (+4.35%), and financial services (+3.73%) led wage growth, while construction (+1.63%) and manufacturing (+1.34%) lagged behind. The trend shows a shift toward service-driven wage momentum in Nepal’s economy.
Nepal’s Salary and Wage Index reached 103.22 in July 2025, up 2.63% year-on-year. Workers in Sudurpaschim, Lumbini, and Karnali gained the most, while Bagmati and Koshi lagged behind. For employers, rising wages improve retention but add cost pressures, highlighting the need for balanced wage and productivity growth.
In 2025, Sudurpaschim led wage growth (+7.44%), followed by Lumbini (+3.72%), Karnali (+3.09%), and Gandaki (+2.74%), all above the national average of 2.63%. Larger provinces like Bagmati (+1.98%) and Koshi (+1.23%) lagged behind, showing regional disparities in wage growth trends.
Sudurpaschim Province recorded the strongest wage growth in FY 2024/25, rising 7.44%, with its SWI climbing to 108.03. This growth far outpaces the national average of 2.63%, reflecting labor demand, remittance-driven consumption, and wage adjustments amid migration pressures.