#32. The Business of Climbing Mount Everest

Let’s dive right into the business behind one of the most extreme adventures in the world: "climbing Mount Everest”🏔️. The 2nd half of the 2024 season is currently on & we have over 9 people dead & the previous year in 2023 was the deadliest season on record, with at least 18 climbers confirmed dead and five still missing & yet the Business hasn’t slowed down. It’s a stark reminder that Everest isn’t just about glory—it’s also a multi-million-dollar business with real risks.

But first, in-terms of the money that’s required to climb that huge wall, here’s what it takes:

The Cost of Conquering Everest

Climbing Mount Everest has transformed into a significant part of Nepal’s economy, and it’s no small-ticket adventure. To get to the top, climbers shell out around $50,000 or more. Here’s where the money goes:

• $11,000 for the climbing permit alone

• $6,000 for personal climbing gear

• $2,500 for food at base camp (and you'll be there for about a month)

• $5,000 for oxygen tanks

• $2,000 for oxygen masks and regulators

• $6,000 for a guide

• $1,000+ for insurance

And let’s not forget the local Sherpas. While they face some of the most dangerous conditions in the world, they're paid between $5,000 and $8,000 for a three-month climbing season—roughly equal to the average annual salary in Nepal. Everest is more than just a mountain; it's an economic lifeline for many in the region.

In total, the government of Nepal pulls in over $5 million each year just from climbing permits alone. Everest doesn’t just test physical endurance; it’s a massive financial engine for the local economy.

Here’s one fascinating story of a Sherpa

Meet Gelji Sherpa, one of the world’s most skilled climbers. If you've seen the movie 14 Peaks, you might remember him as part of Nims Purja’s incredible team. Last year, while guiding a Chinese client up Mount Everest (who had probably paid around $100,000 for the experience), Gelji came across a climber in desperate need. A Malaysian climber, stranded at 8,300 meters and near death in temperatures of -2°F, was non-responsive and in serious danger.

Without hesitation, Gelji wrapped the man in a sleeping mat like a mummy, strapped him to his back, gave him oxygen, and hiked six hours down the mountain to safety. While his paying client was just 500 meters from the summit, Gelji chose saving a life over completing the climb. Heroic? Absolutely. But it's also a reminder of how deadly Everest can be—and how big the stakes are.

Everest’s Popularity Boom—and Its Dangers

It wasn’t always this way. Everest’s popularity has surged in recent years. In the 1990s, only a few hundred climbers summited the mountain each year. Today, we're nearing 1,000 summits annually.

Two things drive this: Everest is the highest mountain in the world, so many adventurers want to tick it off their bucket list. And despite its extreme conditions, Everest has become one of the "safest" among the world's 14 tallest peaks, thanks to fixed ropes, ladders, and permanent camps that Sherpas set up along the route. However, that rise in popularity has come with consequences.

Everest has become overcrowded. On the best climbing days, hundreds of climbers jostle for their chance to reach the summit, leading to dangerous traffic jams at high altitudes. Remember Nims Purja’s famous 2019 photo? It showed a line of climbers waiting their turn at the Hillary Step, more than 8,000 meters above sea level. That’s a place where oxygen is scarce, and delays can be deadly.

There’s also a mountain of trash left behind. The average climber leaves about 18 pounds of garbage behind, and more than 100,000 pounds of waste have been removed in the last three years alone. Then there are the bodies—over 200 of them—left in the “death zone” at the summit, because it’s too dangerous and expensive to bring them down.

The Future of Everest

So, what’s next for Mount Everest? Some suggest limiting the number of climbing permits to reduce overcrowding, but don’t expect that to happen anytime soon. Everest is a cash cow for Nepal, drawing wealthy adventurers who inject tens of millions of dollars into the economy every year. The government isn't in a rush to turn that tap off.

Others think climbers should be required to meet stricter qualifications, as China does on its side of the mountain. But for now, Everest remains an alluring and lucrative challenge, drawing both experienced climbers and thrill-seeking tourists.

Ultimately, the business of Mount Everest highlights the complex balance between adventure, danger, and economics. For those brave enough to tackle it, it’s a journey that will cost you—financially, physically, and sometimes, tragically.

And while Nepal benefits from the booming Everest industry, it’s clear that the mountain’s challenges—both natural and man-made—are only getting bigger.

That’s the business behind Mount Everest in a nutshell—adventure, risk, and a whole lot of cash driving the world's tallest mountain. See you next week with more on the business of adventure sports!