Labour migration and the Sri Lankan economy.

It is a well-known fact that foreign remittances from Sri Lankan workers abroad accounts for a significant part of Sri Lanka’s economy and foreign exchange reserves, also provides livelihoods for one-third of Sri Lankans who are dependent on the migrant workers.

sri-lanka-rupeeLabour migration has provided direct support and revitalizing other Sri Lankan industries such as emergence of corporate and domestic recruitment firms, strengthening of Sri Lankan Airlines, improved communication methods, banking, employment insurance, emergence of cargo handling firms and of course motivated to set up various tertiary education methods such as vocational and technical training in order for more Sri Lankans to find lucrative job offers abroad.

Migration job offers has helped Sri Lanka in minimizing unemployment rate such that annually an average of 25000 new workers joins the migrated labour force.

Foreign remittance from Sri Lankan workers abroad forms a significant part of Sri Lanka’s total export of goods and services, this figure stands at $7 billion in 2013 from 1.7 million Sri Lankans employed abroad especially in the Middle Eastern countries such as Saudi Arabia, United Arab Emirates, Qatar and others; which accounts for 10% of Sri Lanka’s GDP.

 

 

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