Nearly 700,000 Pakistani Workers Have Gone Overseas So Far in Year 2022

[RiazHaq]

Nearly 700,000 Pakistani Workers Have Migrated Overseas So Far in Year 2022

Nearly 700,000 Pakistanis have left to work overseas in the first 10 months of the current calendar year, according to Pakistan's Bureau of ...

www.southasiainvestor.com

Nearly 700,000 Pakistanis have left to work overseas in the first 10 months of the current calendar year, according to Pakistan's Bureau of Emigration Overseas Employment (BEOE). The worker migration from Pakistan had dipped to 225,000 in 2020 and 280,000 in 2021 due to Covid restrictions around the world. The yearly average for the last decade was over half a million Pakistanis migrating to other countries for work. The data from International Organization for Migration (IOM) shows that a lot more of the Pakistan migrants are now skilled labor while the share of unskilled migrants is declining: "Pakistani migrant workers were skilled (42%) and involved in semi-skilled jobs such as welders, secretaries, masons, carpenters, plumbers and so on. Another proportion of the labour migration was composed of unskilled laborers (39%) such as agriculturists, laborers or farmers. Projections about future trends indicate that the number of Pakistani labour migrants will continue rising to reach 15.5 million in 2020 (Government of Pakistan, 2018". Larger and increasingly higher skilled diaspora is expected to sustain double-digit annual growth in overseas worker remittances to Pakistan.

Pakistani Workers Going Overseas. Source: Bureau of Emigration

Demographic Dividend:

With rapidly aging populations and declining number of working age people in North America, Europe and East Asia, the demand for workers will increasingly be met by major labor exporting nations like Bangladesh, China, India, Mexico, Pakistan, Russia and Vietnam. Among these nations, Pakistan is the only major labor exporting country where the working age population is still rising faster than the birth rate.

Over 10 million Pakistanis are currently working/living overseas, according to the Bureau of Emigration. Before the COVID19 pandemic hit in 2020, more than 600,000 Pakistanis left the country to work overseas in 2019. Nearly 700,000 Pakistanis have already migrated in this calendar year as of October, 2022. The average yearly outflow of Pakistani workers to OECD countries (mainly UK and US) and the Middle East was over half a million in the last decade.

Consumer Markets in 2030. Source: WEF

World's 7th Largest Consumer Market:

Pakistan's share of the working age population (15-64 years) is growing as the country's birth rate declines, a phenomenon called demographic dividend. With its rising population of this working age group, Pakistan is projected by the World Economic Forum to become the world's 7th largest consumer market by 2030. Nearly 60 million Pakistanis will join the consumer class (consumers spending more than $11 per day) to raise the country's consumer market rank from 15 to 7 by 2030. WEF forecasts the world's top 10 consumer markets of 2030 to be as follows: China, India, the United States, Indonesia, Russia, Brazil, Pakistan, Japan, Egypt and Mexico. Global investors chasing bigger returns will almost certainly shift more of their attention and money to the biggest movers among the top 10 consumer markets, including Pakistan. Already, the year 2021 has been a banner year for investments in Pakistani technology startups.

Record Remittances From Overseas Pakistanis:

Pakistan is already seeing high levels of labor export and record remittances of over $30 billion pouring into the country. Saudi Arabia and the United Arab Emirates(UAE) are the top two sources of remittances but the biggest increase (58%) in remittances is seen this year from Pakistanis in the next two sources: the United Kingdom and the United States.

Remittances from the European Union (EU) to Pakistan soared 49.7% in FY 21 and 28.3% in FY22, according to the State Bank of Pakistan. With $2.5 billion remittances in the first 9 months (July-March) of the current fiscal year, the EU ($2.5 billion) has now surpassed North America ($2.2 billion) to become the third largest source of inflows to Pakistan after the Middle East and the United Kingdom. Remittances from the US have grown 21%, second fastest after the EU (28.3%) in the first 9 months of the current fiscal year.

Worker Remittances as Percentage of Pakistan GDP. Source: World Bank

Pakistan ranks 6th among the top worker remittance recipient countries in the world. India and China rank first and second, followed by Mexico 3rd, the Philippines 4th, Egypt 5th and Pakistan 6th.

Pakistan Demographics

About two million Pakistanis are entering the workforce every year. The share of the working age population in Pakistan is increasing while the birth rate is declining. This phenomenon, known as demographic dividend, is coinciding with declines in working age populations in developed countries. It is creating an opportunity for over half a million Pakistani workers to migrate and work overseas, and send home record remittances.

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Nearly 700,000 Pakistani Workers Have Migrated Overseas So Far in Year 2022

Nearly 700,000 Pakistanis have left to work overseas in the first 10 months of the current calendar year, according to Pakistan's Bureau of ...

www.southasiainvestor.com

 

[Catalystic]

Hehehe
We’re fertile and having fun.
Great times!

 

[RiazHaq]

Nearly 700,000 Pakistanis have left to work overseas in the first 10 months of the current calendar year, according to Pakistan's Bureau of Emigration Overseas Employment (BEOE). The worker migration from Pakistan had dipped to 225,000 in 2020 and 280,000 in 2021 due to Covid restrictions around the world. The yearly average for the last decade was over half a million Pakistanis migrating to other countries for work. In August this year, the State Bank of Pakistan said in its "Half Year Report 2021-22" that “(t)he monthly flow of Pakistani workers (overseas) has reverted to pre-Covid levels (of 65,000 per month).” The data from International Organization for Migration (IOM) shows that a lot more of the Pakistan migrants are now skilled labor while the share of unskilled migrants is declining: "Pakistani migrant workers were skilled (42%) and involved in semi-skilled jobs such as welders, secretaries, masons, carpenters, plumbers and so on. Another proportion of the labour migration was composed of unskilled laborers (39%) such as agriculturists, laborers or farmers. Projections about future trends indicate that the number of Pakistani labour migrants will continue rising to reach 15.5 million in 2020 (Government of Pakistan, 2018". Larger and increasingly higher skilled diaspora is expected to sustain double-digit annual growth in overseas worker remittances to Pakistan.

Nearly 700,000 Pakistani Workers Have Migrated Overseas So Far in Year 2022

News, analysis and opinions about India, Pakistan, US, Canada, Europe, Mid East, South Asia, Silicon Valley, High Technology, Economy, Politics, World

www.riazhaq.com

 

[Goritoes]

Pakistan was build for slaves by Fauji's, every Pakistani is nothing but a slave to that DHA mafia that rules us, and every educated and able person will leave Pakistan, because nothing will change in our country for as long as few people who consider themselves as superior and saviors rule us.

 

[SoulSpokesman]

@RiazHaq

Good for Pakistani citizens who have left. Good for the ones left behind as they get a share in the remittance income.

Regards

 

[Meengla]

@RiazHaq

Good for Pakistani citizens who have left. Good for the ones left behind as they get a share in the remittance income.

Regards

Yes.
With very low chances to make money at home, Pakistan overall benefits from exporting its labor to the world.
Also, even Pakistani birthrate is declining as will almost all the countries of the world. I have seen some studies that it will be only some African countries who'd provide 'humanity' the 'humans' after some decades!! So, kudos Nigeria!!

 

[RiazHaq]

#Japan's #demographic crisis. More retirees, fewer workers. Japan has one of the lowest #birth rates in the world, with the Ministry of #Health predicting it will record fewer than 800,000 births in 2022 for the first time since records began in 1899. https://www.cnn.com/2023/01/23/asia/japan-kishida-birth-rate-population-intl-hnk

—
Japan’s prime minister issued a dire warning about the country’s population crisis on Monday, saying it was “on the brink of not being able to maintain social functions” due to the falling birth rate.

In a policy address to lawmakers, Fumio Kishida said it was a case of solving the issue “now or never,” and that it “simply cannot wait any longer.”

“In thinking of the sustainability and inclusiveness of our nation’s economy and society, we place child-rearing support as our most important policy,” the prime minister said.

Kishida added that he wants the government to double its spending on child-related programs, and that a new government agency would be set up in April to focus on the issue.

Japan has one of the lowest birth rates in the world, with the Ministry of Health predicting it will record fewer than 800,000 births in 2022 for the first time since records began in 1899.

The country also has one of the highest life expectancies in the world; in 2020, nearly one in 1,500 people in Japan were age 100 or older, according to government data.

These trends have driven a growing demographic crisis, with a rapidly aging society, a shrinking workforce and not enough young people to fill the gaps in the stagnating economy.

Experts point to several factors behind the low birth rate. The country’s high cost of living, limited space and lack of child care support in cities make it difficult to raise children, meaning fewer couples are having kids. Urban couples are also often far from extended family who could help provide support.

Attitudes toward marriage and starting families have also shifted in recent years, with more couples putting off both during the pandemic.

Some point to the pessimism young people in Japan hold toward the future, many frustrated with work pressure and economic stagnation.

Japan’s economy has stalled since its asset bubble burst in the early 1990s. The country’s GDP growth slowed from 4.9% in 1990 to 0.3% in 2019, according to the World Bank. Meanwhile, the average real annual household income declined from 6.59 million yen ($50,600) in 1995 to 5.64 million yen ($43,300) in 2020, according to 2021 data from the country’s Ministry of Health, Labor and Welfare.

The government has launched various initiatives to address the population decline over the past few decades, including new policies to enhance child care services and improve housing facilities for families with children. Some rural towns have even begun paying couples who live there to have children.

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During the year 2022 (December), 832,339 Pakistanis proceeded abroad for the purpose of employment.

https://beoe.gov.pk/?__cf_chl_jschl...xfqB_E1oGyko049nDUaiNxQL7JRYlKIkcGUVzYTraqiok

Since inception of the Bureau in the year 1971, more than 10 million emigrants have been provided overseas employment duly registered with the Bureau of Emigration & Overseas Employment. During the year 2015, highest number of Pakistanis(946,571) proceeded abroad for the purpose of employment. During the year 2022 (December), 832,339 Pakistanis proceeded abroad for the purpose of employment.