FLPH Updates

OFW Money Transfer Helps Fuel the Economy

It is known to all that our beloved country, the Philippines, is one of the top exporter of local talents. Whether it’s in the area of home management or professional workers in various fields. In fact, we have millions of migrants workers working all over the world. The exact figure I don’t have, but surely it’s a lot.

Thru this so called modern day heroes, our government can assure of a stable economy thru their remittances yearly.

In a local newspaper Today in Singapore, Philippines top number 4 in the migrants money transfer back to their country with a total of $21.3 billion in the data they collected for this year. India is in the top spot, having $55 billion with estimated around 11.9 million citizens working abroad.

I am one of the OFW, and I am proud to be one for more than six years already.

Though it may sounds good for me, the fact that most Filipinos working abroad is still a not good sign of a healthy nation. While we continue to send our best professionals abroad, our country have only few qualified professionals to deal with our local economy and businesses.

It’s a problem deep rooted in our society. I hope time will come, Philippines will be known to export other commodities rather than manpower.

About Richard Macalintal

Hi my name is Richard. I am a Registered Financial Services Consultant in Singapore. If you have any queries or you need help on your insurance policies and investment linked products, feel free to message me :-) We can have a cup of coffee while I do financial review and give advice with regards to your finances :-) Contact me thru email rlmacalintal(at)yahoo.com or SMS me +65 82235186. Disclosure: I am a Financial Consultant of AIA. The statements or opinions expressed on this site are my own and do not necessarily represent those of AIA.

Leave a Reply

Your email address will not be published. Required fields are marked *

*