Earnings – Overseas

FILIPINO households must prepare for weaker remittance flows as the number of deployed overseas Filipino workers (OFWs) has started to plateau. In a briefing on Tuesday, Ateneo de Manila University’s EagleWatch Senior Fellow Alvin Ang said remittances are only expected to grow 2.7 percent this year.

The impact of remittances by Filipinos living or working abroad, even if such inflows have been threatened or challenged in recent months, still cannot be discounted in helping chart the country’s sustained growth in the next five to 10 years.

MANILA, Philippines – More Filipino households receiving remittances from their loved ones abroad are saving and investing amid the heightened financial literacy programs being undertaken by the Bangko Sentral ng Pilipinas (BSP).

MANILA, Philippines – Families of Filipinos working and living abroad are saving and investing less as they prioritize their spending amid the turbulence in the global financial markets, a survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed.

How bad would it be for the economy of the Philippines if remittances were to dry up? Such a scenario may be far off but an analysis of central bank data suggests both the composition and the total value of payments sent home by Filipino workers overseas are undergoing fundamental change. If recent trends continue,…

MANILA, Philippines – A United Nations body has awarded the Bangko Sentral ng Pilipinas (BSP) for its efforts in promoting economic and financial education to the families of overseas Filipino workers.

MORE FILIPINOS took their talents to overseas job markets last year, further highlighting the role remittances play in the Philippine economy, with lower-paid workers accounting for a larger share of the total year-on-year while the proportion of professionals and managers declined.

MANILA, Philippines – The number of families of overseas Filipino workers (OFW) that allocated funds for savings and investments fell in the first quarter from the previous three months, a Bangko Sentral ng Pilipinas survey showed.

MORE HOUSEHOLDS that receive remittances from Overseas Filipino Workers (OFWs) allocated portions of the inflows into savings and investments this quarter, according to the Bangko Sentral ng Pilipinas (BSP) Consumer Expectations Survey (CES) released on Friday.

Year-to-date, cash sent in by workers totaled $11.4B Growth in cash from migrant workers continued its streak, rising in June to its highest level since last December as Filipino labor remained in demand overseas.

MANILA, Philippines – More households that depend on remittances from family members working abroad are now saving and investing. This was according to a recent Bangko Sentral ng Pilipinas (BSP) survey, which indicated that in the second quarter of the year, 46.6 percent of remittance-dependent families said they had put a portion of their remittances…

Personal remittances by overseas Filipino workers (OFWs) in February rose from a year earlier, but marked a second monthly slowdown since December 2013.

MANILA, Philippines – Remittances continued to rise in February amid sustained demand for Filipinos abroad, the Bangko Sentral ng Pilipinas (BSP) said yesterday.

MANILA, Philippines – Remittances from overseas Filipino workers (OFWs) went up 6.8 percent in January from a year ago, driven largely by sustained demand for skilled and professional manpower overseas, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

MANILA, Philippines – Remittances from Filipinos working and living abroad grew faster than expected in 2013, hitting a new record high of $22.76 billion from $21.391 billion in 2012, the Bangko Sentral ng Pilipinas reported yesterday.

MANILA, Philippines – Remittances reached a monthly record of $2.286 billion in November, supported by the sustained deployment of Filipino workers abroad, according to the Bangko Sentral ng Pilipinas (BSP).

MANILA, Philippines – The inflow of remittances from Filipinos abroad expected to remain strong this year on the back of continuing global and local economic growth, Standard Chartered Bank said in a research note.

MANILA – Remittances from overseas Filipino workers (OFWs) have allowed households to save money, boosting the country’s savings rate, according to the Bangko Sentral ng Pilipinas (BSP).

Growth in remittances slows to 5.99% REMITTANCE GROWTH remained healthy in February despite a seasonal slump, the Bangko Sentral ng Pilipinas (BSP) reported yesterday, as demand for Filipino workers remained strong.

Remittances up 6% on year, slowest in 5 months MANILA, Philippines – Remittances growth slowed to a 5-month low in February, amid a strong peso and the weak recovery of the jobs market abroad.

MANILA – More households of overseas Filipino workers are saving their remittances and less are spending on medical needs and education, the Bangko Sentral ng Pilipinas (BSP) said.

GENEVA – Migrant workers from the world’s poorest countries sent home $27 billion (21 billion euros) in 2011 despite the global financial slowdown, but developing nations are failing to benefit fully from the cash, the UN said Monday.

The World Bank yesterday said remittances from overseas workers will reach $24 billion this year, making the country the third top recipient of remittances among developing countries.

MANILA – The World Bank on Wednesday said money sent home by overseas Filipino workers could reach $24 billion this year, making the Philippines the world’s third largest recipient of remittances.

Personal remittances sent by Filipinos abroad from January to August 2012 reached $15.3 billion. The figure is a 5.6 percent increase compared to remittances recorded in the same period last year, Bangko Sentral ng Pilipinas (BSP) acting chief deputy governor Juan de Zuñiga Jr. revealed.

GROSS domestic product (GDP) growth could hit 5.7% this year as strong influx of money from overseas Filipinos workers (OFWs) supports the consumption-driven Philippine economy, HSBC said in a research note released yesterday.

Cash remittances from overseas-based Filipinos sent through banks reached $1.8 billion in August, increasing at a 10-month high of 7.6 percent from $1.67 billion in the same month last year. Remittances in August eased from $1.81 billion in July, but still higher than the $1.7 billion average for the first seven months of the year.

MANILA, Philippines – Growth in remittances from overseas Filipinos remains on track to meeting this year’s target with the Bangko Sentral ng Pilipinas (BSP) saying yesterday it will not revise its remittance projection once it commences with a review of official forecasts next month.

MANILA, Philippines – Personal remittances — the cash and non-cash items or goods carried across borders coursed through formal and informal channels — reached US$13.3 billion in the first 7 months of the year, reflecting a 5.4% increase.