Remittances from Youths Working in the Middle East

Email

Remittances from Bhutanese youth working in the middle-east was around Nu 204 million last year according to records maintained by the Bhutan Postal Corporation Limited which is the only agency that operates Western Union, the international money transfer and payment services, in Bhutan.

Remittances from Youths Working in the Middle East (Source: The Telegraph)

Remittances from Bhutanese youth working in the middle-east was around Nu 204 million last year according to records maintained by the Bhutan Postal Corporation Limited which is the only agency that operates Western Union, the international money transfer and payment services, in Bhutan.

Most of the remittances came from the U.A.E, Kuwait, Qatar, and Oman. There were 4,220 transactions from the U.A.E, 1,634 from Kuwait, 1,296 from Qatar and 119 transactions from Oman in 2016.

This year from January to June alone the remittances was Nu 151 mn with 5,586 transactions in total indicating higher remittances for 2017.

This would mean a total of Nu 355 mn remitted in the last 18 months through Bhutan Post.

However, the actual remittances would be higher as youth also use other facilities like the one in the Bank of Bhutan to transfer money on a monthly basis.

“Most of us working here send around Nu 20,000 monthly back home to support our parents. Since we get free accommodation and food, we send whatever we earn home. We try to send more when we get better tips,” said Sangay, a youth working in Dubai. “I am the only child and I want to help my old parents.”

Sonam, another youth working there, said he saves half of what he earns and sends the rest home.

But Tshering, on the other hand, said that since she and some of her friends availed loans to apply for the employment program, they used their earnings to repay loans.

According to the manager of Western Union, Karma Wangchuk, the remittances indicate that youth placed in the Middle East for overseas employment are increasing and that their earnings are positive, which is a good sign.

He said on the other hand, it shows trust, reliability and prompt services rendered by the financial payment service.

He added that under the cooperation between Western Union and Bhutan Post, customers can use the service for receiving money from all parts of the world but can send money to India only, which is due to objection from the Central Bank.

The Director General of department of employment and human resources in the labour ministry, Sherab Tenzin, said the main objective of the government for initiating overseas placement is to engage youths meaningfully, have them gain proper work experience and enhance their skills.

“Remittances have played an important role in many countries; it will have a positive impact for Bhutan as well. And it is a good news that the earnings of the youths working in the Middle East countries are in hard currency,” said the director general.

 

By Sonam Yangdon (This article has been edited for the Daily Bhutan)

Photo Credit: The Telegraph

This article first appeared on The Bhutanese.

 


Related Posts

Bhutanese Youths head to South Korea for Vocational Training

A total of 18 young Bhutanese headed to South Korea’s Jeju Province in late Sept 2017 where they will undergo trainings...

Oct 06, 2017 17:30

Entrepreneurship Course Equips Youth with Business Skills

More than 30 out of school youths are learning how to make banana bread, chips, fruit wine and cardamom tea at a basic...

Oct 15, 2017 15:21

Bhutan Shortlisted As A Finalist For The Intellectual Property...

Bhutan has been selected as one of the four finalists out of 13 countries.

Feb 14, 2019 18:38

Bhutan Records Lowest Inflation Rate In 2018 At 3.13 Percent

For the measurement of the current Consumer Price Index, prices are collected from a sample of 557 outlets.

Feb 11, 2019 18:42

‘Business Process Outsourcing’ Expected To Create 3,000 Jobs And...

‘Business Process Outsourcing’ is a method of subcontracting various office operations to third party vendors.

Feb 03, 2019 16:24

Latest

News

Largely Funded By The Asian Development Bank, Bhutan’s First Mini-Dry Port Is Now Completed

The Asian Development Bank funded 81 percent of the total budget as grant while the Bhutanese government funded the rest.

Feb 15, 2019 11:35

Highlights Of The Year Long Bhutan-India Golden Jubilee Celebrations Which Wrapped Up On 8 Feb 2019

“The events reminded us how deep our economic, spiritual and cultural links are,” said the Indian Ambassador to Bhutan, Jaideep Sarkar.

Feb 09, 2019 19:07

Features

One Third Of The Hindu Kush Himalayan Glaciers Could Melt By End 2100: ICIMOD Study

Bhutan will see a rise in temperature higher than the regional average of the Hindu Kush Himalaya.

Feb 13, 2019 17:56

To Eat ‘Snacks Or Snakes?’ Discover The Idiosyncrasies Of Bhutanese English

Bhutanese English differs from standard English not only in terms of its accent and pronunciation but also in the usage of words while...

Feb 12, 2019 18:52

Sports

Bhutan’s HRH Princess Eeuphelma Choden Wangchuck Attended The General Assembly of the Asian Paralympic Committee In Dubai

The General Assembly is the highest decision making body of the Asian Paralympic Movement.

Feb 08, 2019 18:15

9-Year-Old Boy From Bhutan Completes Gruelling Cross-Country Cycling Race

While many thought that the boy would give up after 5 to 6 kilometres, others were concerned that he might get injured.

Feb 01, 2019 16:52

Business

Bhutan Shortlisted As A Finalist For The Intellectual Property (IP) Sharing Project 2019

Bhutan has been selected as one of the four finalists out of 13 countries.

Feb 14, 2019 18:38

Bhutan Records Lowest Inflation Rate In 2018 At 3.13 Percent

For the measurement of the current Consumer Price Index, prices are collected from a sample of 557 outlets.

Feb 11, 2019 18:42

Travel

Revival Of Khurul Lake In Lhamoidzingkha – A Special Lake Where One’s Wishes ‘Can’ Be Fulfilled

Today, the lake is fast becoming a tourist spot for both Bhutanese and tourists from abroad.

Jan 20, 2019 15:47

Here’s What It’s Like Inside Asia’s Best Hotel - COMO Uma Punakha In Bhutan

Luxury resort COMO Uma Punakha was awarded best hotel in Asia and third best hotel in the world, by Conde Nast Traveler's Readers Choice...

Jan 18, 2019 17:05

Lifestyle

Tshering Zangmo Represents Bhutan At The 5th Young Chef Olympiad In India

Tshering Zangmo has successfully made it to round two of the Olympiad.

Feb 04, 2019 16:35

Bhutanese Boyband O'Strangers To Play In Pattaya For 2 Months

They are the first Bhutanese rock band to perform at Hard Rock Cafe Pattaya in Thailand.

Jan 04, 2019 15:13

Subscribe to our newsletter

Never miss out on new happenings and news stories!