Climbing Mount Everest isn’t just a serious physical toll, it’s a financial one, too.
Driving the news: For the first time in almost a decade, Nepal is raising the cost of permits to climb Mount Everest. Starting in September, individuals must pay $21,500 to sojourn during the April-May climbing season, a 36% increase from the previous price of $15,750.
- Climbers flock to Everest during the spring as it’s a period of less rainfall, low prevailing winds, and warmer temperatures, boosting a climber’s odds of reaching the summit.
Why it matters: Permits are a major economic driver for Nepal, with mountain climbing contributing more than 4% to the country’s economy. Higher prices are expected to increase revenue as interest in climbing Everest continues to rebound after a pandemic-era slump.
Big picture: An extra $4,000 is a drop in the bucket for climbers looking to tackle the world’s tallest peak. Per climbing blogger Alan Arnette, most climbers pay between $57,380 and $86,000 after fees, travel costs, supplies, gear, and guides. Some can pay up to $287,000.
- Guide prices are also on the rise. Over the past ten years, Western guides in Nepal have jacked up median prices from $91,800 to $110,000 per group.
Yes, but: Everest’s popularity has led to overcrowding and environmental harm, leading Nepal's Supreme Court to order the government to set a permit cap last April. Last year, 421 permits were issued to foreign climbers, of which only half of them opted to climb.—QH