INTERNATIONAL LABOUR MIGRATION FROM BANGLADESH: NATURE, COST AND REMITTANCES

International labour migration from Bangladesh has become an important element of survival for many households in rural areas. Influx of remittances is enhancing the process of development in multi-faceted ways. This study attempts to analyze various aspects of international out-migration from Bangladesh. The study reveals that migrant workers migrated at their earlier stage of life. The role of education is not very much determinative to the short-term migrant workers. A good portion of migrant workers (about 23 percent) had no formal education. A few people (about 3 percent) went abroad through illegal channel. On an average, every migrant worker had to bear BDT 246,802 as direct migration cost. Apart from direct cost they also bore a significant amount of psychic cost. In financing cost for migration, personal saving and followed by borrowing from local money lender contributed the most. In the case of borrowing from money lender, an exorbitantly high interest rate was to be paid. Situation of sending remittances through official channels has improved. Most of the respondents (91.9 percent) sent remittances through official channels. The migrant family spent most of the remittances on consumption, building and repairing of house. However, a significant amount of remittances was spent on health and education by the migrant households. Investment on institutional saving instruments is very low. Running petty business with remittances remained very low as well.