Economic Contingency Plan 2020
Period: 2020 – 2025
The passage highlights the severe economic impact of the COVID-19 pandemic, which has caused a global crisis marked by widespread disruption, supply chain breakdowns, and the likelihood of prolonged effects. Although Bhutan managed to avert a major public health crisis, its economy—especially the tourism, construction, and agriculture sectors—was hit hard. Tourism revenue dropped by over 40% in 2020, the construction industry suffered from a shortage of foreign labor, and agriculture faced import disruptions despite new opportunities for domestic production. In response, the government introduced the Economic Contingency Plan (ECP), which aims to provide immediate coping measures while implementing long-term reforms. The ECP consists of three chapters: the Build Bhutan Project to address labor shortages, initiatives to enhance resilience in the tourism sector, and strategies to boost agricultural and livestock production for food self-sufficiency.