Bangladesh exported 50 percent less manpower in 2009. Thousands of jobless workers also returned home as their employers went broke after the Wall Street collapsed. Yet inward remittance grew by 20 percent ($10.72 billion) in 2009. How could fewer workers send the highest-ever remittance?
When the economy goes rock bottom, it makes little sense asking what it would mean to one component. But what exactly the impact of the present financial crisis on telecoms? This is what Spencer E. Ante thinks: The $1 trillion telecommunications industry has long been one of the most resilient parts of the economy. But as the financial crisis has intensified, it has recently become clear that telecom can’t escape the fallout of the credit crunch.