11
Dec
10

OFW Remittances:4th largest in the World

Filipino migrant workers remained one of the world’s biggest money senders to the home country. Being the 4th in the world makes a lot of difference to the economy of the Philippines. Most of it are used for houselhold sustenance and education expenses by families of Filipinos working abroad. Business investments account, as well as construction and establishment of properties and other investments by the hardworking Filipinos abroad. These are money coming in to the country. The Migration and Remittances Factbook of the World Bank sees a further surge in money in the next 2 years. It is solely because, Filipinos continue to make a name in the international picture, about industriousness and good work ethics.

A 23% growth from last year’s $17.3 Billion is estimated to reach a total of $21.3 Billion by the end of December, this year. This is money being added to the country’s existing funds that are used to operate the country’s economy. Thanks to the OFW’s for helping out the Philippines fuel the country’s economic power. It mainly helped us escape recession and worsening poverty condition.

According to World Bank, 12% of the country’s gross domestic product or GDP is sourced out from these remittances. The Philippines came 4th, after India with $55B, China – – $51B and Mexico – – $22.6B. Behind the Philippines is France at $15.9 Billion. A $325 Billion estimated total remittance to all developing countries is estimated to reach this year. That is up by 6% from last year’s $307B.

As inspiring as it may sound like, but the main questions remain, until when will Filipinos long to get out of the Philippines in order to continue to do this? Up to when, will Filipinos continue to long to get out of the Philippines, in order to escape poverty and give their families a decent life? Up to when will families be separated and lost their precious years together, in order to sustain the needs of their loved ones? Up to when, will Juan De La Cruz has to go to other countries to work, when he is most needed in his own country? Whose duty is it, to bring forth such a change? The President? The Vice President and Senators? I believe its everyone’s. All government officials, down to the very Barangay Officials should address poverty alleviation and social enhancement issues. We need a stronger government, a government that is able to eliminate corruption and uphold justice. New laws need to be passed, that will give more stronger teeth to the existing ones. But above all, it needs the will power of every Filipino. Their participation and awareness to every issue is important. We need a government that is able to give us every opportunity to grow and become successful in our own country.

I am very optimistic that with the present leadership, we will be able to reach our dreams of a better, more developed Philippines. This government must do it, along with all the Filipinos, in a united country. Mabuhay Pilipinas!!!


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