Enhancing Bangladesh’s Economy through Workforce Training, Development, and Overseas Employment Strategies
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Abstract
Abstract. Purpose: This study aims to evaluate how workforce training, skill development initiatives, and overseas employment strategies have contributed to enhancing Bangladesh’s economy between 2010 and 2024. With the rising importance of remittances, increasing demand for skilled labor globally, and the government's commitment to Vision 2041, this research investigates the direct and indirect impact of labor force development on economic indicators such as remittance inflow and youth unemployment. Data and Methodology: A mixed-methods approach was used, combining quantitative trend analysis with policy review. Data were collected from national and international sources including BMET, DYD, World Bank, Bangladesh Bank, and ILO. The analysis focused on five indicators: number of trained individuals, overseas job placement rates, labor contracts signed, remittance inflows, and youth unemployment. Time-series data were analyzed using SPSS and Excel, with special attention given to the pre- and post-2013 policy shift marked by the National Skills Development Policy. Findings: The results reveal a 426% growth in trained individuals, a 222% increase in formal overseas contracts, and a remittance rise from $10 billion in 2010 to $24 billion in 2024. Job placement success among trained workers improved from 28% to 60%, indicating enhanced alignment between training and international job demand. Youth unemployment declined slightly from 12.6% to 11.46%, showing progress but also highlighting gaps in domestic job creation and skills utilization. Research Implications: This study offers valuable insights for policymakers, training institutions, and international partners. It emphasizes the need for industry-driven training, improved reintegration support for returnee migrants, and stronger public-private collaboration to build a resilient labor force. Originality: This research uniquely links skill development, labor migration, and economic growth using a decade-long dataset and structured analysis tailored to Bangladesh’s policy context.
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Publication Details
- Type of Publication:
- Conference Name: International Conference on The future of Business: Innovation, Technology and Sustainability
- Date of Conference: 11/09/2025 - 11/09/2025
- Venue: University of Chittagong
- Organizer: BBR, FBA, University of Chittagong (CU)