It is good to note that the country’s remittance inflow stood at a record high of USD 16.41 billion in fiscal (FY) 2018-19. Reportedly, this inflow increased by about 9.5 percent in FY19 from USD 14.98 billion in the previous fiscal.
As a consequence of the government’s various initiatives coupled with oil price hike in middle-east countries and the rise of taka against dollar, the tempo of the country’s remittance inflow has remarkably speeded up. Moreover, expat workers’ hard-earned money, sent through proper channels, immensely contributed to the increased inflow.
Reportedly, last year Bangladesh has secured the ninth position in the world and third in South Asia in terms of remittance earning. It is expected that the flow would continue in the upcoming fiscal as the government and the central bank are working sincerely. But at the same time it is also undeniable that if we can send more skilled workers in new and potential destinations, the remittance flow will increase manifold in the future.
If we can send more skilled workers
in new and potential destinations,
the remittance flow will increase
manifold in the future
Remittance is perceived to be a driving force for fostering a country’s economic growth. Apart from reducing poverty remittance helps us to start new jobs and organizations by providing capital. But it is dissatisfying to note that larger portion of the remittance comes only from ten countries; hence, more stress on finding new work destinations should be given in no time. In this regard, we need to encourage more European countries to take our workers. And in order to do that, we must ensure that they are skilled and have basic knowledge about foreign languages as well as adaptation abilities. Also we must ensure proper training for foreign jobseekers before sending them abroad.
There is a huge demand for skilled workers like computer operators, graphics designers and medical equipment operators in some European countries. Therefore, emphasis should be given on the need for grooming and employing skilled hands and diligent personnel abroad. Authorities concerned should therefore open more vocational training centres and invest more in the education sector in order to produce and send more skilled workers. Also there is a need to facilitate the banking system for migrant workers so that they can easily send home their hard-earned money.