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The limitations of gross domestic product (GDP) to measure people’s well-being have been widely discussed and documented in the literature. In this context, Bhutan’s pioneering experience with gross national happiness (GNH) is a welcome departure from traditional global practices to measure a nation’s wealth and well-being. Bhutan’s concept of GNH promoting education and human capital as pivotal forces in human centred development in a small sized developing country provide unique opportunity to test integration of GNH and GDP necessary to attain economic, social, technological, environmental (ESTE) balanced sustainable development. The article concludes that GNH and GDP can be complimentary development strategies.