Investment Migration – From: Bangladesh

Bangladesh is producing a lot of Millionaires these days. And, many of Bangladesh’s millionaires are indeed leaving Bangladesh every year.

Prima Facie, the case of Bangladesh is a little confusing.  On the one hand, it has been widely reported that their economy is one of the fastest-growing in the world, reaching 8% of GDP in recent years. It may reasonably be assumed that the country is relatively well-managed. Certainly it has not been plagued by faux-Islamic Radicalism, or the other types of debilitating political or cultural issues we see devastating Pakistan, or other comparable countries.

On the other hand — Bangladesh is home to much Climate Change-driven Devastation and ravaged by rampant Extreme Poverty. There are reports of

  1. Rising Sea-Levels: This is a horrific phenomenon, caused by Global Warming / Climate Change, which causes the water-levels to rise in the rivers and the coastline, causing entire villages or regions to keep flooding, and the flood-water levels to not recede fully each time. This of course means that those areas are ultimately rendered permanently unlivable. In a highly and extremely densely populated, low-lying, coastal nation that is covered and criss-crossed by major rivers, marshland and water-bodies — this is obviously a complete disaster, and one to which there really aren’t any good solutions.

  2. Other Climate Change Fallout: Rising temperatures and unpredictably changing Rain- and Micro-Weather-Patterns cause a slew of other problems related to Flora-Fauna and Human Habitat, Agriculture, and so much more.

  3. Extreme Poverty: While the economy is over-performing, and the Wealthy are getting even richer, the wealth generally doesn’t seem to percolate or trickle-down much, to the country’s huddled masses trapped in cycles of multi-generational poverty.
  4. Lack of Education: In this poor Moslem nation, most of the poverty-stricken illiterate masses do not get any education, particularly the women.

Which is ironic, given that Bangladeshi Women participating in the labor force have achieved a great deal, driving the Economic Miracle that is Bangladesh, a country which has been under some of the longest-running Rule by female Heads-of-State.

Unfortunately, Bangladesh’s Poor, particularly girls and women — consider themselves lucky to get low-paid employment just to put food on the table, often toiling extremely long hours of back-breaking physical labor, in the country’s garment or fishing industries, or in unprofitable, small-holder, subsistence farming.

  1. Members of the small Upper Classes (and growing Middle Class) pursue higher education, often abroad. This of course leads us into the next point.  
  2. Brain-Drain: An ever-present and ongoing phenomenon, whereby much of the nation’s best and brightest human resources leave the country (for education, higher-paying jobs, or even just cultural preference, etc.) and rarely ever go back, joining instead the ranks of a prosperous Non-Resident Bangladeshi Overseas Diaspora. (An example of this is Jawed Karim, a Co-Founder of Youtube.)  
  3. Over-Dependence of the economy on a few key industries, like Textiles and Garments (in which Bangladesh is an International leader). This leaves open the possibilty that in the event of a downturn in any of those key sectors, the entire nation is extremely vulnerable.  
  4. Widespread Corruption: Bangladesh is not alone in this, high-level and retail Corruption being a common trait in many poorer or Developing Nations across the globe, almost all of which also display highly Inequitable Distribution Curves for Wealth, the Hallmark of the Third World.  
  5. The nation’s currency, the Taka, remains weak.   
  6. And Bangladesh’s Banking sector also remains weak.

In summary, Bangladesh is one nation in the world amongst the most affected by the Global Climate Change Crisis — A Nation Gradually Sinking Into The Rising Sea.

Of all its problems, this is the one that gives the most impetus to Bangladesh’s Wealthy to leave, permanently, BECAUSE THEY CAN !

… while, tragically, Bangladesh’s Poor — who do not have the wherewithal to become Investment Migrants, moving to some more attractive destination in search of a better life — are left with no choice other than to stay back and suffer, and die, … OR to be forced to Eventually become Climate Change Refugees who must carry their misery and poverty to wherever will let them come in.

A highly over-populated land NOT blessed with too many Advantages or Natural Resources per capita, nor bolstered by any Invisible Hand of Historic Glory, Bangladesh has done much of what was RIGHT for them to have done over the last few decades, and have turned their economy around, to the point where it is the envy of their neighbors and many other Third World nations across the globe.

In view of these 2 above juxtaposed realities, the staggering Pathos of this aggriegious unfairness is truly breath-taking!