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| Image Credits: business.inquirer.net |
Manila, Philippines – Remittances sent by overseas Filipino workers (OFWs) represent 13.5 percent of the country’s Gross Domestic Product (GDP).
The Bangko Sentral ng Pilipinas (BSP) reported that remittances from overseas Filipino totaled $20.117 billion in 2011, 7.2 percent more than in the previous year. Robust remittances in the first quarter of 2012 were supported by the continuous demand for Filipino manpower in various foreign labor markets.
The Philippine Overseas Employment Administration’s (POEA) said that 68,711 job orders for service, production, professional, technical, and related workers were processed from January 1 to April 30, 2012, in
response to the manpower requirements of Saudi Arabia, United Arab Emirates (UAE), Qatar, Kuwait, Hong Kong, Taiwan, and Singapore.
The Philippine Overseas Employment Administration’s (POEA) said that 68,711 job orders for service, production, professional, technical, and related workers were processed from January 1 to April 30, 2012, in
response to the manpower requirements of Saudi Arabia, United Arab Emirates (UAE), Qatar, Kuwait, Hong Kong, Taiwan, and Singapore.
Each year, more than a million Filipinos leave the country to work abroad. Other emigrate and become permanent residents of other coun
tries. These overseas Filipinos often work as doctors, physical therapists, nurses, accountants, information technology professionals, engineers architects, entertainers, technicians, teachers, seafarers, students, caregivers, and wood workers. There are now about 9.5 million to 12.5 million overseas Filipinos worldwide or about 11 percent of the total population of the Philippines as of 2010.
tries. These overseas Filipinos often work as doctors, physical therapists, nurses, accountants, information technology professionals, engineers architects, entertainers, technicians, teachers, seafarers, students, caregivers, and wood workers. There are now about 9.5 million to 12.5 million overseas Filipinos worldwide or about 11 percent of the total population of the Philippines as of 2010.
Our overseas Filipino workers’ remittances are a vital contribution and a huge boost to the Philippine economy. We could only thank them for the sacrifices that they make, and be proud of our modern-day heroes. CONGRATULATIONS!
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