Pakistani expatriates are a treasure to the job market, providing worthwhile contributions through foreign-acquired expertise. There are millions working overseas, and their experience equips them with a variety of skills that can take business in Pakistan to another level. These workers not only send necessary remittances that sustain families but also return with modern skills, fresh ideas, and global outlooks that improve the domestic job market. This article discusses ways in which Pakistani expats will improve your recruitment process, granting you access to a talented human resource base capable of fueling growth and development. By using this talent source, businesses have the advantage of utilizing experienced practitioners who are up to date on global standards and best practices.
1. Remittances: An Essential Foreign Currency Source
Another very important input of Pakistani expats is remittances. Remittances by overseas Pakistanis account for a large chunk of the country’s national foreign exchange reserves, as stated by the State Bank of Pakistan.
Key Points:
- Remittances are an essential source of foreign exchange that stabilizes the nation’s economy.
- They supplement income at the household level, granting families an improved quality of living.
- Remittances also ease poverty and advance infrastructure development in rural areas.
Example:
Remittances inflow to Pakistan was more than $23 billion in 2020, heavily contributing to foreign reserves of the country and increased consumer expenditure.
2. Employment Generation and Skill Development
Pakistani expats contribute financially to their native country but also return with applicable skills and experience. They work in fields such as healthcare, construction, engineering, and information technology in the majority. The skills improve the local economy upon return by offering employment opportunities.
Key Points:
- Foreign skill development raises productivity levels in the domestic labor force.
- Expats invest in small businesses upon return, opening new job opportunities.
- The share and exchange of expertise also improve Pakistan’s industries.
Example:
Pakistani professionals who work as doctors, engineers, or IT professionals abroad return to the country with developed technical expertise, thus contributing towards the growth of industries in Pakistan.
3. Facilitating Trade and Investment
Pakistani expatriates also contribute to the economy by establishing trade links and attracting foreign investment. The experience in international markets and business environments enables them to connect local companies with global opportunities.
Key Points:
- Expats act as bridges for international trade, encouraging export and import businesses.
- They attract foreign direct investment (FDI) into Pakistan.
- The majority of expats use their international connections to create business alliances that benefit Pakistan’s economy.
Example:
The Pakistani expat community in UAE has been able to establish a number of businesses that they operate from within Pakistan, creating economic links between the two nations.
4. Boosting Real Estate Business
Remittances by expat Pakistanis are very significantly impactful on Pakistan’s property sector. Most of the expats spend their remitted amount in buying houses or property at home and hence guarantee demand for homes as well as business properties.
Key Points:
- Investment from expats in the real estate contributes towards enhanced city growth and urbanization.
- Expat investment in the property generates employment in the construction as well as the property sectors.
- Expats also invest in properties for their families, increasing the value of property in the local market.
Example:
Property prices in cities such as Lahore, Karachi, and Islamabad have been significantly impacted by foreign investment by Pakistanis.
5. Encouraging Pakistan’s Soft Power
Pakistani expatriates are representatives of the country abroad. Their successes in various areas demonstrate Pakistan’s positive image in the world arena. They also help shape better diplomatic relations, which form a positive image of Pakistan on the international arena.
Key Points:
- Expats participate in Pakistan’s international influence and political affairs.
- They are ambassadors of culture, promoting Pakistani cuisine, customs, and culture internationally.
- Expats become proactively involved in diaspora organizations, which promote Pakistan’s political, social, and cultural objectives.
Example:
Pakistani diaspora communities in the USA, UK, and Saudi Arabia are usually involved in charity work, cultural events, and political lobbying, thus raising Pakistan’s international profile.
6. Philanthropy and Social Welfare
Pakistani expatriates are also renowned for philanthropic contributions. They give money often, help support local communities, and provide relief in times of national emergency. The contribution helps improve the well-being of the public as well as Pakistan’s development goals.
Key Points:
- Expat donations to philanthropy improve health, education, and infrastructure.
- The majority of expats set up foundations or fundraisers to support causes in the native country.
- In case of emergencies or natural disasters, expats contribute financially and materially to assist in relief efforts.
Example:
The relief carried by Pakistani expats during the 2010 floods provided some long-sought solace to the affected.
7. Enhancing the Education Sector
Pakistani expats are also helping develop the country’s education sector. Some expats help by setting up schools or offering scholarships, while others take experience back to the education sector by working as teachers or as consultants.
Key Points:
- Scholarship funds help poor students avail quality education.
- Expats in the education sector contribute their share towards knowledge transfer and curriculum development.
- Many expats also provide internship and job placement opportunities to Pakistani graduates abroad.
Example:
Such organizations as the Iqbal Academy and Pakistani Students’ Associations are funded by Pakistani expatriates, and they offer educational programs and cultural exchange.
Conclusion
Pakistani expats play a vital role in driving the country’s economic growth with their remittances, investments, skill upgradation, and charity. Their roles transcend monetary returns they play their part in building the future of Pakistan through promoting trade, education, and social reforms. As Pakistan strengthens further in the world economy, the expats’ role will be at the center of the country’s development and prosperity.
For more about how Pakistani expats are influencing the economy and how to access the right talent, visit Recruitmentpk.
