Overseas Employment and Remittance Inflow in Bangladesh

Abstract

Bangladesh met with regular and enormous labor migration to overseas from 1960s and it is still one of the most remittance gaining countries among the developing ones in Asia. Like overseas employment, remittances flow has been increasing every year with its increased share in GDP and export earnings which becomes vital elements for accelerating economic growth in Bangladesh. In this study, we found that there is a significant relationship between inflows of foreign remittances and overseas employment. Our analysis also reveals that unskilled manpower, insufficient government initiatives for exploring new overseas market for labor, employees’ reluctance to use legal channel for sending money are some of the reasons that inhibits the remittance inflows in Bangladesh. In this context, we think proper training, raising awareness and government active role will be suffice in ensuring inflows of foreign remittances.

Keywords: Migration, Employment, Overseas, Remittance, Development.