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Traditionally subsistence farmers, the Thakalis have cashed in on the trekking boom since the 1960s by establishing many small hotels along the main routes of the Annapurna region. They have had a virtual monopoly on the lucrative trade and have developed a keen business sense.

The secret of their success lies in a system of communal investment (dighur) where family members or friends pool a fixed amount of money per person and give the total to one among them. The recipient can use it at his discreation and his only obligation is to contribute to the dighur. When everyone has received their  lump sum, the group is dissolved. The system is based on trust  and encourages individualism.

Theakalis are related to the Magars, Tamangs and Gurungs and their religions is mixture of Hindusim, Buddhism, Shamanism and Animism. In this they differ from their Tibetan related neighbours in Mustang. Their study houses  are built with flat stones cemented together with clay. They cultivate barley and potatoes , and indication of the  severity of the climate, and their flat roofs are used for drying grain and hay. Yaks are good grazing livestock and the milk is drunk and made into cheese, while Yak hides and coarse wool are also used for clothing. Juniper is often used for tea.