An Indian entrepreneur pitches his company to the Kerala-based startup-focused I'm Channel - © 2019 Sebastian Castelier
It is now widely appreciated that labour migration has spur economic growth in labour sending Asian countries. It brings huge benefits, fuel growth, innovation and entrepreneurship in both the countries people come from, and in those they move to, the International Organization for Migration declared. In 2018, migrant remittance inflows to Nepal, Bangladesh, India and the Philippines worth about US $136 billion. Beyond financial return on investment, is the trend empowering Asian economies?
Economic migration is closely tied to the fulfilment of a dream, often referred to as the migration project, either build a house, fund a marital project, pay back loans or tuition fees, offer his/her family a comfortable life... Homes bought with Gulf wages pepper rural India's Kerala - “I feel proud of having successfully achieved my life-goals. I thanked God many times,” said Usman Thondiyan, 55, who was able to build his house after working in Saudi Arabia as a sofas maker for 17 years. Read more...
The southern Indian state of Kerala has long depended on payments sent home from abroad by migrant workers. But a new generation of Keralites is looking to stay in India to build their careers, rather than follow in the footsteps of previous generations who sailed across the Arabia Sea to find work in the Gulf states. In 2014, Kerala became the first state in India to formulate a comprehensive startup policy. "We cannot rely on the financial health of other countries," said Saji Gopinath, CEO of the Kerala Startup Mission. Homegrown tech firms are taking advantage of opportunities in the Middle East, but in a very different way to how their forebears might have done. Read more...
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