Remittances Play Significant Role in Philippines

Contributions from Filipinos abroad came to nearly 10 percent of the Philippine economy last year.  The figure is based on remittances, which hit a high of $21 billion in 2012.  But the popular notion that contract workers sent that much back home is only partly true.  Money from émigrés also plays a significant role. Many feel obligated to remit money back into the Philippine economy from overseas.

Cultural notion

At the Commission on Filipinos Overseas, which …

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