Dhaka, Dec. 12 -- Bangladesh's long-standing dependence on overseas labour migration may have helped cushion external shocks, but it cannot deliver a sustainable path to middle- or high-income status without significant investment in skills and human capital, experts have warned.

While remittances support consumption, foreign-exchange reserves and short-term macroeconomic stability, the country risks remaining trapped in a remittance-dependent growth cycle unless it strengthens education, expands technical and vocational training, and upgrades polytechnic institutions, they said.

Economists speaking at a seminar in Dhaka on Thursday cautioned that labour migration, though vital, is only a temporary strategy and must be complemented by a...