Bangladesh 8th highest remittance recipient globally

DHAKA, May 8 (Xinhua) -- With some 21.50 billion U.S. dollars in remittances, Bangladesh again secured eighth place on the list of countries with the most remittance inflows globally, according to the World Migration Report 2024.

The United Nations agency for International Organization for Migration (IOM) launched its flagship World Migration Report 2024 on Tuesday in Bangladesh's capital Dhaka, which was published outside Geneva for the first time, revealing a dramatic increase in internal displacement due to disaster, conflict, and violence at a time when global mobility ground to a halt due to COVID-19 travel restrictions.

According to the report, Bangladesh has retained its positions as a migrant origin and remittance recipient country, ranking sixth and eighth, respectively.

Despite Bangladesh being among the top 10 countries in both categories, the report also highlighted the challenges faced by expatriates in various destinations.

"While remittances remain a lifeline for many people in the Southern Asia sub-region, including Bangladesh, migrant workers from these countries continue to face a myriad of risks, including financial exploitation, excessive financial debt due to migration costs, xenophobia, and workplace abuses," said the report.