Impact of Post Covid-19 Pandemic on Foreign Remittance Beneficiaries

Dhaka University Journal of Management,

Vol. 15 , No. 1 & 2, January 2023 – December 2023
https://doi.org/10.57240/DUJMV15A2

 

Impact of Post Covid-19 Pandemic on Foreign Remittance
Beneficiaries
Md. Mesbah Uddin, PhD 1
Mahanaz Hoque 2

Received on 2nd Nov 2022, Accepted on 24th Nov 2022, Publised on 31st Dec 2023
Abstract: Thousands of migrant Bangladeshi workers have been compelled to abandon their
occupations as a result of the extensive spread of the coronavirus pandemic, depleting foreign
currency reserves. There is a significant effect on the national economy from the money that expats
send back home. More importantly, remittances help migrant families directly by increasing
consumption and easing investment in sectors like education, healthcare, and infrastructure.
The primary goal of this study is to determine whether or not people of Sylhet division of
Bangladesh, who have received remittances from abroad, have altered their purchasing habits
or quality of life as a result of the Covid-19 epidemic. This study was conducted based on
survey. Multiple regression analysis was carried out. The research found that those who receive
remittances were negatively affected by the Covid-19 Pandemic monetarily, socially, and
psychologically. It is also found that households that received remittances had trouble saving
during this period and also had trouble paying back debts. This finding also reveals a dramatic
decline in the volume of remittances received over the studied period. Therefore, household
spending is severely impacted.
Keywords: Remittance, Covid-19, Beneficiaries, Social Impact, Financial Impact,
Psychological Impact.

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