Image from mylot.com ( OFWs are the Modern Heroes of the Philippines)Today, around 12 million Filipinos are working outside the Philippines. They are called the Overseas Filipino workers commonly known as OFWs. This is about 13% of the total population of the Philippines. The Overseas Filipino Workers (OFWs) are considered modern heroes of the country. Without the remittances of these OFWs, the Philippine economy would not look as bright and positive compared to the economy of other countries.
A majority of them are women applying as domestic helpers and personal service workers. Others emigrate and become permanent residents of other countries. Overseas Filipinos often work as doctors, physical therapists, nurses, accountants, IT professionals, engineers, architects,entertainers, technicians, teachers, military servicemen, seafarers, students, caregivers, domestic helpers and maids.
In 2008, overseas Filipinos sent US$15.9 billion worth of remittances to the Philippines, up from the US$14.4 billion in 2007.
This year the Central Bank of the Philippines (CBP), expects official remittances coursed through banks and agents to grow 5% over 2011 to US$21 billion, but official remittances are only a fraction of all remittances. Remittances by unofficial, including illegal, channels are estimated by the Asian Bankers Association to be 30 to 40% higher than the official CBP figure.
Besides the Philippines, Mexico, India and China are the three other countries that have millions of overseas workers sending remittances to their native country worth billions of dollars that help in the local economy.
And as you read this, there are also thousands of Marinduque OFWs out there away from their families in order that they may provide them good life and better future for their love ones. Indeed, their remittances are helping boost the Philippine economy.
Note: On a personal level about 80% of the clients of Chateau Du Mer Conference Hall are Marinduque's OFW's and their relatives.
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