Filipinos in US are top contributors to PH economy

  • Filipinos in the United States remain to be the top contributors to the country’s economy
  • This was revealed by Commission on Filipinos Overseas chair Francisco Acosta during an Ugnayan forum in San Francisco
  • Acosta said that remittances from the US reached P1.6 trillion, which is 10 percent of the country’s Gross Domestic Product

Filipinos in the United States (US) are still the source of biggest contributors in the Philippine economy, Commission on Filipinos Overseas (CFO) chair Francisco Acosta said.

Image via CFO

Acosta shared in the Ugnayan Forum attended by Filipinos in the San Francisco Bay Area that the total remittances from Filipinos in the United States last year reached $32.21 billion, which accounts for more than P1.6 trillion or 10 percent of the Philippines’ Gross Domestic Product, a report from Philippine Daily Inquirer said.

“That really contributed a lot to the economy of the Philippines cushioning the impact of the regional and global financial crises and inflation,” Acosta said.

The Ugnayan forum is held in various countries to help address concerns of Filipino immigrants. He, however, clarified that their mandate is for permanent immigrants who have been naturalized so the Philippine Overseas Employment Agency still handles issues and concerns of OFWs.

During the forum, Acosta also revealed that the most vulnerable among the group of permanent immigrants he have visited are Filipinas in Japan and Korea because they have to marry locals so they can stay in the country.

Image via Pixabay

“Filipinas usually have whirlwind romances [with Korean or Japanese citizens] without really knowing each other [so they have] have cultural and language differences.  Somehow, because of their resiliency and the support of other Filipinos who have been there, [they] survived the travails of their marriage,” Acosta explained.

He also said that many Filipinos still want to work abroad in an attempt to earn more for their families, but the figures are already going down because infrastructure programs in the country opened up opportunities.

Acosta said he is planning to visit Midwest Seattle, Alaska, New Jersey, Louisiana, Florida, Chicago, and New York next year.

Source: Inquirer