Former Part- Time Independent Consultant3 2m
Wrong! Who said so?
In fact government hails the overseas filipino workers (OFWs,) as the country’s MODERN HEROES!
In 2023, there were approximately 2.33 million registered Overseas Filipino Workers (OFWs) in the Philippines. Of these, 58% were female workers. The Philippines is one of the world's leading countries for migrant workers.AI
- According to the central bank (BSP), the amount of OFWs' inflows now account for about 10.5 percent of the country's gross domestic product (GDP) and 20 percent of the country's total export earnings. https://www.philrights.org
- OFW remittances have emerged as a major source of the country's foreign exchange inflows. Remittance flows contribute significantly to economic growth with its share in gross national product (GNP) averaging 8.9 percent over the last five years. https://www.bis
- Remittances may stimulate the economy by boosting aggregate demand and output through increased consumption and investment expenditures of recipient households and their multiplier effects.
THere are instances of unintended negative effects: dysfunctional families — one of the spouse engage in marital infidelity & abandon/ neglect the children or the children go wayward (victim of incest/abuse, juvenile delinquent, school dropout, teen pregnancy etc) . But these are not unique to OFW families.
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