livelihoods diversification

Livelihoods diversification refers to the strategy of increasing or varying the ways people earn their income. Instead of relying on just one source, such as farming or a single job, individuals or communities develop multiple income-generating activities. This approach helps reduce economic risk, improves financial stability, and enhances resilience against unexpected challenges like bad weather, market changes, or job loss. It enables households to better meet their needs, invest in growing their well-being, and adapt to changing circumstances. Overall, livelihoods diversification is a practical way to build more resilient and sustainable livelihoods.