Understanding the Impact of OFWs on the Philippine Economy
The Philippines is the largest recipient of remittances from abroad. In 2008, remittances sent by overseas Filipino workers (OFWs) made up 12% of the country’s gross domestic product (GDP). This slightly dipped to 11% in 2017, but it still is a significant source of foreign exchange for the country’s economy. OFWs are modern-day heroes both …
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