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Abstract
The study aims to explore the situation of foreign employment and remittance on social and economic status in households. For this purpose, a total of 116 households having migrant family members (at least one) were selected in Simta Rural Municipality of Surkhet District, Nepal. The information was collected via interview by using a structured interview schedule. Descriptive as well as inferential statistics were carried out to analyze the impact of remittance. The impact of remittances on both economic status and the social status of the sampled households is remarkable. At a time when the country’s major economic indicators are not favorable, remittances have played a vital role in maintaining macroeconomic stability and keeping the economy afloat. Though remittances sent home by migrant workers are a boon to the economy, the facilities are inadequate to back up the increasing trend of migration. Inadequate information on foreign employment, lack of skill training, and lack of assurance of safe working environment and rights of the migrant workers have obstructed foreign employment. Formulation and effective implementation of pro-poor migration policy is the need of today. The government should play a proactive role to promote foreign employment by inducting and adhering to the policy of economic diplomacy. Replicating the best practice of the region has to be endorsed in our national context for promotion and regularization of foreign employment, to encourage the official transfer of remittance, and to streamline the asset and skill of the returnees for the economic development of the country.
Highlights
Nepal is a landlocked country surrounded by India in the South, East, and West and by china in the north
The study applies a survey method to analyze the structure of foreign employment and the use of remittance in the various sectors as well as socio-economic dimensions of migrant households
The study was conducted at Simta Rural Municipality of Surkhet district
Summary
Nepal is a landlocked country surrounded by India in the South, East, and West and by china in the north. It is difficult to calculate the exact size of remittance flow in Nepal due to the emergence of an unofficial channel. In this regard, it is estimated that unrecorded flows through informal channels are believed to be more than 50 percent of the recorded flows in developing countries (Ratha, 2005). Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flows, especially with regard to labor-exporting countries (Al-Assaf et al, 2014). Remittance generates benefits to the communities if they are spending on locally produced goods & services, and helps poverty reduction. The IMF’s country stated that in the absence of remittance the percent of local poverty would be 36 to 37 (Shrestha, 2008)
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