Impact of Remittance Due to Immigration in Nepal

1607 WordsFeb 24, 20186 Pages
Impact of Remittance due to Immigration in Nepal Background Movement of people to other countries in search of employment is by no means a new phenomenon. Labor mobility has been an important and essential feature of the economic and social development of societies throughout human history. People are moving from one place to another since time immemorial and the continuous movement has been an international phenomenon. Such movement of the people from one place to another can be attributed to the rapid growth in transportation and communication sector in the world. In case of developing countries, out migration has been an incessant and evident phenomenon. Every year thousands of people migrate from their home countries in search of employment opportunities. South Asia being a labor surplus region sends thousands of labor to various nations every year. In case of Nepal, labor migration and remittance are the major economic basis. Labor migration in Nepal has dramatically increased with the opening up of new markets for Nepali labor in the countries like Republic of Korea, Malaysia, Qatar, Saudi Arabia. Nepal Living Standard Survey 2003/04 suggests that now pre-eminent role of the Gulf Countries is as a destination for Nepali labor and source of remittances. Human resources are the wealth of nation and their importance has tremendously increased in recent years for unskilled, semi-skilled and skilled people have shown tremendous inclination towards foreign employment
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