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The COVID-19 Pandemic Impacts on Manpower Export: An Econometric Analysis of Survival Strategies of Recruiting Agencies in Bangladesh

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  • Mannan, Kazi Abdul
  • Farhana, Khandaker Mursheda
  • Chowdhury, G. M. Omar Faruque

Abstract

The COVID-19 outbreak led the governments of many countries to impose restrictions on non-essential travel to countries affected by coronavirus, indefinitely suspending tourism travel, work visas and immigrant visas. Some countries placed a complete travel ban on all forms of inward or outward travel, shutting down all airports in the country. In this context, the main purpose of this study is to review the survival strategies by the international recruiting agencies in the country both triggered and prolonged the recession while trying to save the lives of citizens. In this regards, in the random sample selection process 291 recruiting agents were selected out of total 1,189 active members of Bangladesh Association of International Recruiting Agencies (BAIRA). The econometric model developed is used to assess the relationships between COVID-19 sustainability and the exploratory determinant variables. The results delve out that the only five variables out of twenty-four to survive are owner (s) personal reserve fund, shark loan, sale of other assets and properties, probability of bankruptcy and probably closing business soon. This paper contributes to the literature by showing that financial factors and/or non-economic factors can trigger both a financial and economic meltdown in unprecedented ways. This study also propose a model for investigating sustainability of other business sectors in the same way. Finally, it suggest that in order to protect manpower export sector, the Government of Bangladesh needs to bring under a special program and provide financial and strategic assistance to recruiting agencies in overall market research, exploration and creation.

Suggested Citation

  • Mannan, Kazi Abdul & Farhana, Khandaker Mursheda & Chowdhury, G. M. Omar Faruque, 2020. "The COVID-19 Pandemic Impacts on Manpower Export: An Econometric Analysis of Survival Strategies of Recruiting Agencies in Bangladesh," MPRA Paper 103566, University Library of Munich, Germany, revised 2020.
    • Handle: RePEc:pra:mprapa:103566
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    Cited by:

    1. Khan, Adnan & Mrs, Sultana, 2020. "International Migration Literature Search in Bangladesh during the period of 1971-2020," MPRA Paper 108328, University Library of Munich, Germany, revised 2020.
    2. Khan, Adnan, 2020. "A Bibliography Search on International Migration and Remittances Literature during the period of 1971-2020: A Case of Bangladesh," MPRA Paper 108143, University Library of Munich, Germany, revised 2020.
    3. Kazi Abdul, Mannan & Khandaker Mursheda, Farhana, 2020. "Knowledge, Attitude and Acceptance of a COVID-19 Vaccine: A Global Cross-Sectional Study," MPRA Paper 105236, University Library of Munich, Germany, revised 2020.

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    More about this item

    Keywords

    COVID-19; Pandemic; Sustainability; Labor; Market; Impacts; Manpower; Migration;
    All these keywords.

    JEL classification:

    • I1 - Health, Education, and Welfare - - Health
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • J1 - Labor and Demographic Economics - - Demographic Economics
    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers

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