“…Spending a large portion of migrant remittance on basic necessities is understandable as the majority of migrant workers, particularly those from most developing countries, come from relatively lower socioeconomic backgrounds (Taylor and Lopez-Feldman, 2010;Mahmood, ,1995Appleyard, 1996;Siddiqui and Abrar, 2003;Rahman and Fee, 2005;Piotrowski, 2006;Anna, 2009;O'Brien, 2009). It is also notable that, while investment accounts for 30 per cent, as Rahman et al (2006) argue, most of these are speculative investments in real-estate to finance conspicuous consumption.…”