Dr Bilesha Weeraratne Debunks Myths on Overseas Migrants and Remittances

18 December 2023

Debunking one of the most common misconceptions that financial remittances are the most important contribution made by overseas Sri Lankans, IPS Research Fellow and Head of Migration and Urbanisation Dr Bilesha Weeraratne said there is more to economic engagement from overseas Sri Lankans beyond financial remittances.  She made these remarks at the “Celebrating for a Better Sri Lanka: Unlocking the Potentials” panel discussion organised by the Office for Overseas Sri Lankan Affairs (OOSLA) for International Migrants Day 2023.

Dr Weeraratne highlighted that when it comes to financial remittances, mostly temporary migrants, intending to return, are the ones regularly remitting to Sri Lanka, providing crucial support to their families left behind. In contrast, permanent migrants, who leave with their families, usually do not send regular remittances.

Going beyond financial remittances, Dr. Weeraratne emphasised the significance of social remittances, and their potential to contribute as much or more than financial remittances to the Sri Lankan economy. Social remittances encompass ideas, identities, behaviors, and social capital, including knowledge transfers and opportunities for trade and investment, fostering connections between the host country and the migrant’s country of origin.

Watch Dr Weeraratne’s comments here