Migration and Remittance in Bangladesh: Dynamics, Economic Impact, and Policy Implications

This study explores the evolving landscape of overseas labor migration from Bangladesh and examines the multifaceted impacts of migrant remittances on the country’s economy. Drawing on secondary data from key national and international institutions, the paper investigates migration trends, country- and category-wise labor deployment, and remittance inflows over the past two decades. It highlights how remittances serve as a critical pillar for Bangladesh's economic growth, contributing significantly to GDP, foreign exchange reserves, household consumption, poverty alleviation, and national savings. The analysis also underscores the gender dimensions of migration, noting the growing role of female migrants, and the challenges they face in destination countries. While remittances offer substantial macroeconomic and microeconomic benefits, the study identifies several structural and policy challenges, including high migration costs, informal remittance channels, skill mismatches, and brain drain. The paper emphasizes the need for enhanced institutional frameworks, legal reforms, skill development programs, and financial inclusion to maximize the development potential of remittances. It concludes by recommending strategic interventions to ensure safer, more efficient, and equitable migration processes that align with national development goals and the Sustainable Development Goals (SDGs).