Around 25% of remittance-receiving households invest a part of their remittance while 74.68% do not, a survey of Bangladesh Bureau of Statistics revealed yesterday.
“Remittance is mostly spent on essentials as the survey shows that remittance receivers spend 38.84% of remittance for food items and 38.86% for non-food items and 22.30% is used for durable and others,” said Md Dilder Hossain, BBS programme director, in his presentation. He said about 84% of the total remittance is spent on essentials while 16% are saved.
According to the survey titled Survey on the Use of Remittance 2013, 97.4% migrants are male and only 2.6% female. Most migrants are relatively young – 64% being under 34.
The survey shows that 87.82% workers are not trained, 62% educated up to class IX and only 2.41% including engineers and doctors are highly educated.
Banking system is found as the most popular system in transferring remittance as 67.32% expatriates send money through banks, 10% use hundi and 6.87% Western Union.
According to the survey, 56.96% households are savers while 43% are non-savers.
Currently, about 8.6 million Bangladeshis are working abroad.
