Historically, Thiksey's economy was based almost entirely on subsistence agriculture, animal husbandry, and trade. Today, the economy has diversified significantly, with tourism serving as the primary engine for economic growth. The influx of domestic and international visitors to the Thiksey Monastery has spurred the creation of homestays, guesthouses, small restaurants, and handicraft shops.
Despite the rise of the service sector, agriculture remains culturally and economically vital. Many families balance modern employment with traditional farming. The cost of living is relatively moderate for locals, though the short tourist season means that a year's income must often be generated within a five-month window. Future economic development is focused on sustainable, eco-friendly tourism and improving winter infrastructure.