OFWs send home remittances, which help fuel domestic consumption, boosting the economy
MANILA, Philippines (UPDATED) – Remittances sent home by Overseas Filipino Workers (OFWs) have been instrumental in the Philippines’ economic growth. In 2009, when everybody thought that OFWs would be the first ones to suffer because of the global economic crisis, the Philippines still received more remittances valued at $17.35 billion.
Remittances have been resilient despite crises, thanks to the unwavering commitment of Filipino workers to their families in the Philippines. But we must not forget – there are social costs to this economic gain.
If there are more high-quality local jobs, Filipinos will see working abroad as an option, and not the only way out of poverty.
Learn more in this infographic by Rappler artists Matt Hebrona and Bardo Wu. Data from official government offices culled by Cai Ordinario. – Rappler.com