In search of the next billion dollar destination
Since its inception, Bangladesh has become one of the leading exporters of migrant workers and immigrants globally. The growing importance of overseas employment for Bangladesh's economy is reflected in its exponentially growing foreign reserve from foreign remittance, consistent growth of the migrant population year-over-year, and growing contribution of foreign remittance in the national GDP.
The high number of labour export is driven primarily by the promise of financial security.
Each year, more than 400,000 workers leave Bangladesh for overseas employment (International Labour Organization), with the top destination being countries in the Middle East, and neighbouring countries in the Association of Southeast Asian Nations. It is, however, worth noting that only a small portion of the global migrant population from Bangladesh ultimately acquires white-collar jobs.
Our remittance income has skyrocketed over the years to more than triple its value, from $13.57 billion in 2016 to $46.39 billion in 2021 (Bangladesh Bank, 2021).
This in turn is helping us strengthen our foreign reserves, which in turn will ensure security against any currency devaluation, provide an economic growth boost, and maintain liquidity should any economic crisis arise during or after the ongoing pandemic.
Nevertheless, all good things must come to an end; a slow, stagnant end perhaps. Although we have seen a significant increase in our foreign reserve, it can in part be attributed to migrant workers losing their jobs due to the pandemic and returning with their remaining assets.
Several countries have closed their borders to migrants and the ongoing pandemic might extend these circumstances. Moreover, with decreasing oil prices, several countries in the Middle East are looking for alternative sources to expand their financial horizon. Which means, the number of workers immigrating to the Middle East is expected to decrease.
Now it is crucial that we expand beyond the Middle East for foreign employment while also focusing on securing more white-collar jobs through our immigrants.
In this regard, Canada can be considered the next billion dollar destination as they have pro-immigration policies, high demand for a trained workforce, accessible visas and work permits, and strong education and healthcare sectors that our expatriates can take advantage of.
Utilising the many opportunities Canada has to offer is now easier than ever and it is extremely important that we don't fall behind in our efforts to establish our position in the Canadian workforce.
According to the United Nations Educational, Scientific and Cultural Organization, about 90,000 Bangladeshi students study abroad each year.
A special emphasis needs to be placed on increasing the appeal of Canada as a study destination among the Bangladeshi youth, as the pros of getting a degree there is substantially better than other countries.
Students should be allocated special loans as well as competitive scholarships to seek the best quality education from Canada as the possibility of securing influential white-collar jobs in Canada significantly increases with a Canadian degree.
The opportunity to build a white-collar career for highly educated and skilled individuals is something that is missing in several other Asian and Middle Eastern countries. This is important, because in order for the expatriate community to fully become integrated with Canada's culture, strong representation in all sectors is vital.
As an example, we can consider the substantial migrant population who have settled in the United Kingdom since the 1950's. The Bangladeshi community there currently has three representatives in the British parliament, and have representations in all sectors of the job market.
This in turn has helped strengthen ties and increase trade between both countries while is also ensuring a stable influx of foreign remittance.
There is a huge service market for labour intensive, and care-based work in Canada like nursing, elderly care, retail work and construction projects.
Considering the socio-economic aspects of Canada, the migration requirement has a relatively higher skill cap compared to the Middle East, and the Bangladeshi government may consider launching specific campaigns to train workers to develop soft skills suited for the Canadian workspace.
Such demand wise capacity building can greatly benefit both countries. The Bangladeshi government can also offer special language courses for low-wage workers to learn English and French to properly integrate themselves into the workforce of Canada.
The migration opportunities provided by Canada are vast with around 85 active programmes. Programmes coming with express entry visas include a Federal Skilled Worker Program, provincial nomination programmes, startup visa for innovative enterprises, intra company transfer for existing businesses in Bangladesh, a Rural and Northern Immigration Pilot and Atlantic Immigration Pilot Program for skilled Bangladeshi graduates who would like to work and live in participating communities.
The only challenge when it comes to utilising these opportunities is a lack of awareness and proper guidance. We need to focus on raising awareness and at the same time invite reputed regulated Canadian immigration consultants and international recruiters to operate and offer solutions specifically for the Bangladeshi market.
Bangladesh and Canada are currently negotiating an investment protection agreement which would help bring more direct investments. The two countries have also inked an air services agreement to pave the way for more bilateral trade as well as enhance people-to-people contact.
To ensure optimum utilisation of these bilateral initiatives, Bangladesh has to act actively to promote, create opportunity and supply skilled/ high skilled migrant workers from Bangladesh to Canada and thus open yet another source for billion dollars in foreign remittance.
The writer is the director of Go BD Go Ltd, operating in tourism, immigration and IT-enable services in Bangladesh and Canada.
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