- There has been a significant decline in the amount of money sent by migrants from Gulf countries to Kerala.
- About 10.02 lakh workers returned to Kerala due to layoffs due to Kovid in Gulf countries
- The World Bank’s Migration and Development Brief reveals the status of Indians in the Gulf
There has been a significant decline in the amount of money sent by migrants from Gulf countries to Kerala. In the Gulf countries, about 10.02 lakh workers returned to Kerala due to layoffs due to Kovid. The
Accordingly, India’s remittances from the United Arab Emirates (UAE) recorded a steep 17 percent drop, but this was offset by flexible flows from the US and other host countries. In detail, India has been the top recipient of remittances in the world since 2008 in total value. However, remittances to India are nowhere as long as it comes to its share of gross domestic product (GDP). For small countries like Tonga and Lebanon, remittances are a more important part of GDP.
Global epidemic corona made unemployed in 2020
According to the brief, the exodus of foreign workers from seven member countries of the Gulf Cooperation Council (GCC) last year severely affected Kerala. The bank said that ‘In Kerala, there are an estimated 10.02 lakh migrant workers, more than 40 lakh, who worked in countries covered by the Gulf Cooperation Council and contributed 30 percent of the state’s income, with the global epidemic in 2020 making them unemployed. Low-skilled workers were the most affected in this. ‘
The brief statement states that the monthly salary that families receive has dropped by an average of $ 267. In short, the US is listed as the largest source of remittances, followed by the United Arab Emirates, Saudi Arabia and Russia. According to the brief, increased flows to Bangladesh, Pakistan, Bhutan and Sri Lanka led to an increase of remittances by about 5 percent for the South Asian region. Like India, Nepal also experienced a small drop in remittances.
There will be a 3.5 percent decrease in sending earnings
For the following year, the bank estimated that ‘remittances to the region will be slightly reduced to 3.5 per cent, due to a moderation of growth in high-income economies and a further expected drop in migration to Gulf Cooperation Council countries’. The report’s author, Dilip Rath, said, “The desire to help family members was enabled by financial measures in almost all host countries, under which economic performance outperformed expectations.” He added, ‘A second enabling factor was that businesses in many host countries were better prepared for remote work and remote provision of services that supported employment.’