Role of Remittance to Communities Economic Security of Chandragiri Municipality

Abstract

The substantial number of Nepali youths leaves the country seeking opportunities to overseas. Most of these migrant labors are in the Gulf countries, Malaysia, Korea and Japan totaling to 4.5 million. The remittance plays significant role in economic security of the developing countries like Nepal. The outcome of remittance increases the income level of the households as well as society at large. The social contribution of migration is encouraging in terms of improving health, children’s education and food. Remittance has increased the living standard of the recipient households by reduced the poverty and providing the various economic opportunities in the nation. It contributes 25% of the GDP in the national economy at presently. There has been a rapid increase in remittance inflows in Nepal since the last decade however the numbers of migration people are slightly decreasing since 2015. The research is descriptive using quantitative and qualitative data in the analyses and interpretation in the present thesis report. The Interview is the primary source of information supported by secondary quantitative data sources. The research finding indicates that the role of remittance in economic security of Nepal is significant. Even though major part of remittance is being used fueling “consumerism” and marketization of the society with in non-productive sectors such as investment in speculative real estate transaction. However, some positive impacts of remittance are in health education and livehoods consequences at the community level. Heuristically, Nepal youths mobilized in the development of other countries is neither amenable at present nor positive when citizens fail to achieve intended goals and met by hostilities in the working environment and degradation of health and socio-psychological outcomes. Such realities cannot be addressed by the immediate remittance outcome for the holistic development of individual and their respective communities. The Government of Nepal has not been able to use remittance in productively nor have developed future plans creatively to address the concerns of the returnees. Limited understanding of migrant workers and increases national economy of the country does not justify the future needs and the wants of people and communities. Government of Nepal should bring appropriate plan and policy to make the foreign employment holistic with future goals relevant to the aspiration of the people for sustained development through “well-being” of labors seeking employment overseas to improve livelihoods in general.