The Global Mobility of Bangladesh's Skilled Workforce: Trends and Implications

The global migration of skilled workers from Bangladesh has been on the rise in recent years, providing ample opportunities for individuals to pursue better livelihoods and financial stability. In addition to personal growth, this migration trend has significant implications for the economy of Bangladesh as well, especially in terms of increasing remittances.

Remittances, or the money sent back home by individuals working abroad, have emerged as a major source of foreign currency for Bangladesh. In 2020, remittances from Bangladeshi workers abroad amounted to approximately $18 billion, accounting for around 10% of the country's GDP. The trend is expected to continue, and there is scope for increasing remittances in the next 5 years.

One of the key factors contributing to the growth of remittances is the increasing demand for skilled labor globally. A large number of Bangladeshi workers are employed in countries such as the United Arab Emirates, Saudi Arabia, and Malaysia, where they work in industries ranging from construction and manufacturing to IT and healthcare. These workers are in high demand due to their technical proficiency, work ethic, and ability to adapt to new cultures.

Moreover, the Bangladeshi government has been actively promoting the migration of skilled workers and has implemented policies to facilitate their overseas employment. For instance, the government has established a one-stop service for overseas employment, providing support to workers through the entire process, from obtaining visas and work permits to post-arrival support.

In addition to the growth of remittances, the migration of skilled workers also has the potential to drive the development of the Bangladeshi economy through the transfer of knowledge and expertise. As workers return to Bangladesh after spending several years abroad, they bring back valuable skills, experience, and international contacts that can be leveraged to create new business opportunities.

The remittances received by the families of migrant workers provide a much-needed boost to the economy, supporting local businesses and communities. The money sent back home is typically used for essential expenditures such as education, healthcare, and housing, and provides a stable source of income for many households.

The migration of skilled Bangladeshi workers globally provides ample opportunities for individuals to pursue better livelihoods and financial stability. It also holds significant potential for the economy of Bangladesh, in terms of increasing remittances and driving economic development. With the right policies and support in place, there is scope for increasing remittances in the next 5 years, providing a major boost to the country's economy and improving the lives of millions of people.