Economic Contribution of Migrant Workers in Bangladesh

Bangladesh are not nearly as strong, and their economic strengths pale in comparison to Australia’s. Australia are blessed in regards to resources and they are geographically close to one of the largest growing regions of the world, Asia. Australia’s economy is also incredibly resilient, Australia being one of only three countries not to record a period of economic contraction since data begun being recorded in 1991. The only real economic strength of Bangladesh, on the other hand, is that countries like China, Japan and Australia are beginning to outsource labor to Bangladesh, and this gives work to Bangladeshi citizens and brings money into the

From a perilous beginning, Bangladesh has attained notable advancements in economic and social development in about four decades. Since it won its independent in 1971 following a bloody war, many, in the international community were doubtful about the country’s long-term economic sustainability. Some observers predicted a state of continuing aid dependency, while others believed if a country with such enormous and innumerable development problems as Bangladesh could make strides in development, then possibly other developing countries could as

Synchronously, the developing economies such as some Asian and South American regions which exported their experienced workers to the overseas market can also reduce the unemployment pressure that governments must face in long-term period. On the other hand, international remittances are beneficial for both migrant-sending and migrant-receiving countries. Statistics discovered that the international remittances transmitted to the homeland of 35 to 40 million migrant workers are currently estimated to be about US $66 billion per year, and represent the second largest international monetary trade flow, exceeded only by petrol (Sasikumar 2001). For the countries which exported labour to rich countries, they would gain enormous exchange funds from international remittances and regard the money as foreign investment to facilitate their economic development. By contrary, for these migrant-receiving countries, the outflow of vast domestic currency would take away some financial threats such as malignant inflation to a great extend. Nay, the popularization of one country's currency could also accelerate its economic fluidity and strengthen its economic influence to the other countries.

According to a 1999 International Monetary Fund report, remittances from Dominican Americans are estimated to be about $1.5 billion per year. Most of these funds are used to cover basic household needs such as shelter, food, clothing, health care, and education. Secondarily, remittances have financed small businesses and other productive activities

One approach to comprehend the economy in Somalia is to consider appraisals of per capita Gross Domestic Product (GDP). Gross domestic product is a measure of the aggregate yield of a

One of the negative thing about remittance is that a numerous immigrants are disappointed not just with the poor reliability quality and rate of the present casual settlement system, additionally with the immense expenses they should pay. They may pay 6 -15 percent of the dispatched sum for the exchange. On top of that, they pay another 3-5 percent

Remittance occurs when an expatriate sends funds to their country of origin. It provides an outside source of income for the country while forcing citizens to look for jobs outside of these underdeveloped nations. Investopedia mentions the importance of this to the economic development of countries by stating that “in 2014 $583 billion in USD was transferred between countries, $436 Billion in USD was transferred was received by developing countries” (Investopedia, 2005). This fact demonstrates how the emergence of remittance with globalization has opened up developing countries to new economic opportunities. Haiti has become a key example of how a country has become reliable on this form of economic contribution. According to a 2010 report

What I have learned in this chapter about remittances and how they work, is that they don’t make a lot of money per months and they don’t have a good quality of life. Remittances worker do not have a hand to help them. Remittances workers don’t have an easy life to support themselves in an economy way. Also, remittances life can give you a lot of trouble, because your undocumented in the country. Remittances worker they don’t give benefit the country’s economy. I will give you the most negative effects of them.

We know some negatives aspect or effects from the remittance life for example,How remittance dollars play an important and growing role in the economies of developing nations. It is a difficult to estimate how many remittance dollars move from our country to another each year and sometimes much of the money moves unofficial means not through bank because how

It is notable here that, Bangladesh is going to middle income earning country and according the many leading economic and finance expert it is to be the 23rd largest economy in the world by 2050 whereas many European nations will have smaller economies and less social security than us. The rise emerging market will boost the country’s employment, entrepreneurial and better living standard for everyone. As there already are many globally recognized accounting, finance and think tank organizations working within the country and I am highly positive to secure a brighter future for myself on my return to

It is the leading earning sector in both terms of GDP and govt. revenue. Majority of the people earn their livings from this sector. Due to a number of sectors, most of the labor force are focused on agriculture. The sector has achieved steady increase in food grain production despite the unfavorable weather conditions and economical turmoil’s. One of the most important factors claim behind this increase is due to the efficiency use of improved fertilizers and the establishment of better flood control and irrigations. The development of infrastructures and rural credit networks has contributed to the sectors development. Population pressure continues to place a severe burden on productive capacity, creating food deficit especially of wheat. Foreign assistance and economical imports fill the gap but seasonal hunger remains a problem. Under employment remains a serious problem a growing concern for Bangladesh’s agricultural sectors will be its ability to absorb additional manpower.

People want to live better than now and to find better job, more money they migrate to another countries and cities and work there. It always happen between developed and developing countries, when people to find better life they go from developing countries to developed. Sometimes only one man or woman go to another country, work there, and send his money to home to help his family, and sending money is called remittance. Alternatively, the family specialty send one of workers to another country, educate him and then he work there and send half of his money to his family, it is always man who can work much and good. And the reason of that is better work, higher wages, and aspiration of people to live

Bangladesh has got a population of around 150 million (2011) with a life expectancy at birth of around 63 years, and an adult literacy rate of 47.5%. The recent Human Development

Bangladesh is a south Asian country and has an approximate population reaching 164 million. The manufacturing industry is what Bangladesh is known for. That industry also accounted for almost 12% of GDP in 2009 and 2010 with employing over four million people (The Bangladesh Accord Foundation, 2014). The labor force is made up of young, urbanizing, mainly women. Bangladesh accounts for approximately 78% total exports (The Bangladesh Accord Foundation, 2014), which is second to China.

Remittances typically refer to transfers of money by foreign workers to their home countries. Remittances are not a new phenomenon in the world, being a normal associated to migration which has always been a part of human history. Remittances are playing an important role in the economies of many developing and low income countries. Pakistan is a labour abundant country; hence, as neoclassical theory shows, if workers are unable to find jobs and/or wages to satisfy their needs, they will look elsewhere. Pakistan’s history provides us with a new trend of emigration nearly each decade. Remittance is an important source of foreign exchange earnings for Pakistan since 1970. During the past four decade Pakistan received