Eight peaks, one economy
Nepal is often introduced through a single name—Sagarmatha or Everest. But behind that global symbol lies a far larger story: the country is home to eight of the world's 14 mountains above 8,000 meters. Yet when it comes to revenue, visibility, and tourism, most of them remain in the shadow of one peak.
Sagarmatha dominates Nepal’s mountaineering economy, attracting the highest number of climbers, the steepest permit fees, and the strongest global attention. But what of Kanchenjunga, Lhotse, Makalu, Cho Oyu, Dhaulagiri, Manaslu, and Annapurna?
This raises a crucial question: how much does Nepal actually earn from its tallest mountains—and who benefits from that wealth?
According to the Department of Tourism, Nepal collected a total of Rs 638m in revenue from mountaineering expeditions during the spring climbing season (March 1–April 21, 2025). Sagarmatha alone generated the overwhelming majority. Of the 374 climbers (302 men and 72 women) who successfully summited the world’s highest peak, royalties amounted to Rs 554m. By comparison, Kanchenjunga saw 41 successful summits and generated Rs 10.97m, while 66 climbers reached the top of Makalu, bringing in Rs 16.26m. Overall, 869 mountaineers (678 men and 191 women) successfully scaled 23 mountains and peaks during the spring season.
The Spring 2026 mountaineering season generated $7,840,671 (approximately Rs 1.16bn) in climbing royalties between March 1 and April 30, according to the Department of Tourism. During this period, 1,050 climbers from 78 countries, organized into 125 expedition teams, were permitted to climb across 29 peaks. Of the total, 794 were men and 256 were women, with women accounting for just under a quarter of all permits issued.
As in previous years, Sagarmatha dominated both revenue and participation. It alone accounted for 464 climbers across 47 teams—364 men and 100 women representing 55 nationalities, including 12 Nepali citizens—generating $6,792,041, or nearly 87 percent of the season's total royalty income.
Across all 29 peaks, China topped the national tally with 139 climbers, followed by the United States (128), India (84), the United Kingdom (71), Germany (69), and Russia (66). Poland contributed 31 climbers, Australia 24, and Nepal 16.
Beyond Sagarmatha, Lhotse (8,516 m) emerged as the second most sought-after peak, attracting 111 climbers across nine teams and generating $333,000 in royalties. Ama Dablam (6,814 m) followed with 92 climbers across eight teams, and Makalu I (8,463 m) drew 62 climbers across 10 teams, earning $183,330. Kanchenjunga (8,586 m) recorded 36 climbers across four teams, generating $108,000, while Dhaulagiri I (8,167 m) saw 30 climbers ($90,000) and Annapurna I (8,091 m) recorded 27 ($81,000). Dhaulagiri II had 18 climbers across two teams.
Why do other mountains generate far less revenue than Sagarmatha?
Suren Khatri, permit coordinator at Seven Summit Treks, says that Sagarmatha holds a unique prestige that makes it the default choice for most expeditions. “For many, climbing Everest is a matter of pride.” He notes that while the spring season remains the most favorable for Sagarmatha, autumn climbers tend to prefer Manaslu. Sagarmatha’s powerful international brand continues to draw climbers despite the considerable cost involved. “The royalty fee alone is around $15,000, and with logistics, accommodation, and safety arrangements, the total can reach up to $50,000," Khatri adds.
Utsav Pathak, managing director of Himalayan Mountaineering, echoes this view, describing Sagarmatha's dominance as anything but accidental. He argues that government promotion has been disproportionately focused on Everest, leaving other mountains underexposed. “Not everyone climbs, but those who do often want to take that risk on the highest mountain itself,” he says. Pathak also points to structural imbalances: permit fees for Sagarmatha are significantly higher than those for other peaks, and infrastructure, from accommodation to logistics, is far more developed in the Everest region. “The government’s continued focus on Sagarmatha has made access and facilities there much easier compared to other mountains,” he adds.
Nepal’s identity as the home of eight of the world’s highest peaks holds far greater economic potential than is currently being realized. The data reveals a stark imbalance: an overwhelming concentration of climbers, investment, and branding around a single peak has left the others underpromoted and underutilized.
This disparity is not simply a reflection of climber preference—it is also a product of policy choices, pricing structures, and uneven infrastructure development. Lower permit fees, limited global visibility, and weaker logistical support have collectively constrained the growth potential of Nepal's other giants.
Diversifying promotion, investing in infrastructure beyond the Khumbu corridor, and rethinking pricing and policy frameworks could help distribute both opportunity and income more equitably. In doing so, Nepal can transform its mountaineering sector from a single-peak economy into a more balanced and sustainable engine of national growth, one where all eight giants contribute meaningfully to the country’s prosperity.
Why Chinese climbers prefer the Nepali route to Sagarmatha
Among foreign mountaineers, Chinese climbers represent the largest demographic, with 58 summiteers in 2023 and 54 in 2024. Americans closely followed with 44 and 46 summiteers, respectively. “In this year’s spring season alone, Chinese climbers held the highest number of expedition permits—100 in total—among international climbers,” said Utsav Pathak, Managing Director of Himalayan Mountaineering.
When asked why Chinese climbers favor the Nepal side despite having access to the North Col route in their own country, Pathak pointed to differing policy requirements. In China, climbers must first summit another 8,000-meter peak (such as Shishapangma or Cho Oyu) before becoming eligible for a Sagarmatha permit. In contrast, Nepal only requires climbers to have summited a 7,000-meter peak. Pathak added, “That prerequisite alone costs them an extra $30,000, on top of the $45,000 to $50,000 required for the Sagarmatha expedition itself.”
Rishi Bhandari, General Secretary of the Expedition Operation Association Nepal (EOA-Nepal), shared similar views, emphasizing the safety advantages of the Nepali side. “If a climber faces difficulties, Nepal offers the option of immediate helicopter rescue, which is generally unavailable on the Tibet side,” he explained. He further noted that the professionalism, reliability, and honesty of the Sherpa community—and their willingness to risk their lives for others—have earned a global reputation that continues to attract foreign climbers to Nepal.
Climbing Sagarmatha generates millions of dollars annually through permits, tourism, and auxiliary services. Because a significant portion of Nepal’s economy relies on this industry, limiting the number of climbers is a difficult decision. Fewer climbers would mean reduced revenue, directly impacting thousands of livelihoods connected to the tourism sector.
Experts suggest this is why China’s mountaineering policies cannot be easily compared to Nepal’s. China maintains strict control by setting high entry requirements, resulting in a more regulated mountaineering environment.
Commenting on China’s policies, Pathak noted, “China’s economy doesn’t depend on tourism, so their situation is different. If we can establish a better system for safety and rescue, a higher volume of climbers won’t necessarily be a problem.” He concluded, “Just as China has determined its own approach, Nepal can create a model designed to suit its own unique needs.”
The distinction between the two nations is clear: China follows a controlled model that limits climbers through stringent requirements, while Nepal operates an open system that prioritizes accessibility and economic growth. Each model carries its own set of advantages and challenges.
