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The Role of Remittances on National Economic Development: A Study on Bangladesh Perspective

Bangladesh is a lower middle income country in the world with a large share of income earning from foreign workers' remittance and it helps to improve the country’s GDP, enhances national savings, significant changes in household lifestyle, and boosting money flow. Most of the lower and middle-class people in Bangladesh are financially solvent and lead a standard life for the main reason of foreign remittance, because at least one or two members of that family went abroad for the purpose of earning. The second biggest source of foreign exchange earnings is remittance that can be contributed to improve the nation’s capital, BOP (Balance of Payment), and reserve money of the nation. The aim of the study is to find out the remittances and its contribution to economic growth of Bangladesh. This paper reveals the present scenario of remittance inflows in Bangladesh and how it helps to generate national capital reserves and solve the unemployment problem through exporting skill migration to abroad. The study suggests that there is a positive relationship between remittances and economic development and also makes clear policy recommendations that can assure sustainable remittance inflow, ease easy emigration, and direct a sizeable portion of received remittances into productive industries with the goal of boosting growth, creating jobs, and reducing poverty.

Remittances, Economic Development, GDP, Bangladesh

APA Style

Sunjida Wadud Upama. (2023). The Role of Remittances on National Economic Development: A Study on Bangladesh Perspective. American Journal of Theoretical and Applied Business, 9(3), 70-74. https://doi.org/10.11648/j.ajtab.20230903.11

ACS Style

Sunjida Wadud Upama. The Role of Remittances on National Economic Development: A Study on Bangladesh Perspective. Am. J. Theor. Appl. Bus. 2023, 9(3), 70-74. doi: 10.11648/j.ajtab.20230903.11

AMA Style

Sunjida Wadud Upama. The Role of Remittances on National Economic Development: A Study on Bangladesh Perspective. Am J Theor Appl Bus. 2023;9(3):70-74. doi: 10.11648/j.ajtab.20230903.11

Copyright © 2023 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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