Bangladesh’s dreams of high-paying foreign jobs are facing a reality check.
The number of Bangladesh workers finding jobs abroad dropped by 20 percent in the first four months of 2024 compared to last year.
This raises concerns for a key sector of Bangladesh’s economy, with remittances from overseas workers a significant source of foreign exchange.
The drop is largely due to slumping demand in two major destinations – Malaysia and Oman.
Malaysia, a former top choice for Bangladeshi workers, closed its doors indefinitely this month (June), leaving many hopeful migrants disappointed. Oman also halted visas last year due to undocumented worker concerns.
While Saudi Arabia and Qatar have seen an increase in Bangladeshi workers, the overall decline highlights the need for diversification.
The government aims to send 6 million workers abroad in the next five years, but achieving this target requires new markets and addressing issues in established ones.
Possible reasons for the decline include market saturation in traditional destinations, policy changes like Oman’s visa suspension, and economic downturns impacting foreign labour demand.
To navigate these challenges, Bangladesh needs a multi-pronged approach. Exploring new markets with growing labour demands is crucial.
Equipping Bangladeshi workers with specialized skills that are in high demand globally can make them more competitive.
Additionally, ensuring fair treatment and upholding the rights of Bangladeshi workers abroad is essential to maintain a positive reputation as a source country.
A brighter future for Bangladesh’s migrant workforce hinges on a strategic plan with three pillars: diversification of destination countries, investment in skills development, and prioritizing worker welfare.
Citizens can actively research emerging job markets and potential skill gaps, potentially seeking training to enhance their employability.
The government can play a crucial role by negotiating with new destination countries, advocating for worker rights, and investing in skills programmes.
The private sector can partner with the government and training institutions to develop targeted skills programmes aligned with global market demands, while also advocating for ethical recruitment practices that prioritize worker well-being.
By working together, Bangladesh can transform this challenge into an opportunity.
By building a more diversified and skilled migrant workforce, Bangladesh can ensure a steady flow of foreign currency, empower its citizens, and secure a brighter economic future.