Migration has long been an important livelihood option for the Nepalese people. In 1815, migration was institutionalized through the recruitment of Gurkha soldiers into the (British) Indian Army. Prior to this, some of the defeated soldiers in the Anglo-Gorkha war sought employment in the army in Lahore. After the 2000s, there was a significant increase in the migration of youths mainly due to global economic liberalization and the unstable political situation in Nepal at the time. At present, remittance contributes to more than a quarter of the country’s gross domestic product (GDP). Although remittance was identified as an important reason for the recent decrease in poverty incidence, it was also blamed for increasing inequality. Taking all these factors into consideration, this study briefly assesses the history of migration in Nepal based on a review of the existing literature and views migration from the perspective of push and pull factors. The study analyzes the growing importance of remittance in the national economy as well as in the household economy and follows up with a discussion on the socioeconomic issues related to migration. The study concludes with a discussion on the prospective issues related to migration in Nepal.