During the golden age in the Gulf, 19% of expatriate remittances went to Kerala. It had fallen to 10.2 per cent by 2020-21
Thiruvananthapuram – According to reports, Malayali are losing love for the Gulf. According to the Ministry of External Affairs (MOEA), one eighth of Keralans are now going to GCC countries. This has resulted in a halving of the amount of expatriate money reaching Kerala. The Gulf is unpopular due to Indigenization and Covid. Recent migration has been to the UK and USA.
The dream land of Gulf is being left behind by the Malayalis. In 2016, 7.6 million people moved from India to GCC countries in search of work or other reasons. Malayalis made up a large portion of this group. However, by 2020, 90,000.
Nationalization loses Jobs For Malayali
In the golden age, 19% of all remittances from the Gulf went to Kerala. It had fallen to 10.2 percent by 2020-21. Many Malayalis were forced to lose their jobs after nationalization. This was due to the economic recession and Covid in Gulf countries. The new generation is also moving away from the Gulf due to increased migration to the United States, Britain, and Singapore.
Five years ago, the Gulf was responsible for 50 percent of all expatriate remittances to the United States. America now has 23.4 percent expatriate cash. Maharashtra is now the largest source of expatriate funds, replacing Kerala. He could not go to the Gulf for work alone, so he traveled to more developed countries with his family. This is why expatriate remittances have declined. https://www.linkedin.com/company/newsgulf