WHAT IS RURAL ECONOMY

The rural economy refers to the economic activity and conditions in rural areas, which are typically defined as areas outside of cities and towns. In many countries, the rural economy is primarily agricultural, with farming, forestry, and fishing being the main sources of income and employment. However, the rural economy can also include other sectors such as tourism, retail, and manufacturing, depending on the specific characteristics of the region.

The rural economy is often seen as distinct from the urban economy, which is centered in cities and towns and is typically more diverse and industrialized. Rural areas can face specific economic challenges, such as limited access to markets and infrastructure, a lack of diversification, and a reliance on a single industry or sector. These challenges can make the rural economy more vulnerable to economic shocks and fluctuations, and can make it more difficult for rural residents to access opportunities and improve their standard of living. Governments and other organizations often implement specific policies and programs to support the development and growth of the rural economy.