Record remittance - what about remitters' interests?

Bangladesh has concluded the fiscal year 2024-25 with a record-breaking remittance inflow of $30.33 billion, the highest in the country's history. This remarkable achievement is a testament to the enduring contributions of millions of Bangladeshi migrant workers abroad who strengthen our economy with their hard-earned income.
According to Bangladesh Bank, remittance earnings stood at just $1.22 billion in FY 1995-96. In contrast, the 2024-25 figure highlights how dramatically remittance has grown into a major pillar of our national economy. Migrant workers, particularly from the Middle East-including Saudi Arabia, the UAE, Kuwait, Qatar, and Oman-have consistently contributed significant amounts through formal channels. Notably, migrants from Europe, North America, and other Asian regions now contribute more than half of the total remittances.
However, this financial lifeline raises an important concern: what happens when these workers reach old age and can no longer contribute in the same way? According to the Bangladesh Census 2022, over 65 per cent of the population is of working age (15-64), while about 9.2 per cent are aged 60 and above. Projections show that by 2040, 16.2 per cent of the population will be over 60. This demographic shift will reduce the proportion of working-age citizens and impact future remittance inflows.
A large share of Bangladeshi migrants are currently unskilled or semi-skilled. Without proper training and planning, the economic productivity of this workforce remains underutilized. According to the Bureau of Manpower, Employment and Training (BMET), approximately 421,000 Bangladeshis went abroad for work up to May 2025. While this is a significant number, many are engaged in low-paying jobs with limited long-term prospects.
To ensure the sustainability of remittance as an economic resource, Bangladesh must act now. A national migration strategy should focus on skill development, health preparedness, and aligning labour exports with global market demands. Skilled and healthy workers will not only earn more but also ensure that remittance continues to support our economy in the decades to come.
Remittance is indeed a blessing today, but without thoughtful planning and investment in human capital, it may turn into a missed opportunity tomorrow.

Md Idris Ali
Postgraduate Student
Department of Population Sciences
University of Dhaka