OFWs keep economy afloat

OVERSEAS FILIPINO workers (OFWs) worldwide have kept the economy afloat even during uncertainties, as they send billions of dollars in remittances to the Philippines annually.

And President Ferdinand Marcos Jr. is happy over the contributions of the OFWs and expressed optimism about the country’s development prospects because of its strong, young workforce.

He said Filipino workers are resilient, adaptable, and have the ability to excel in whatever field they choose.

“Kahit saan mo ilagay ang Pilipino, sisikat ‘yan. Kahit saan mo ilagay ang Pilipino, magiging successful ‘yan dahil lahat ng katangian na kinakailangan ng isang labor force na para maging matagumpay ang mga plano tungkol sa ekonomiya, tungkol sa sariling buhay, ay nasa Pilipino,” Marcos said, pointing out that the Filipino workforce is his greatest asset.

“At pagka tinanong sa akin kung bakit ganun ang pag-iisip ko, eh pinapaliwanag ko, madali lang naman sagutin ‘yan, sabi ko, mayroon akong workforce na ngayon ay 107 million na tayong mga Pilipino. ‘Yung 60 percent doon nagtatrabaho na at ang Pinoy ang pinakamagaling na trabahador sa buong mundo,” he added.

The number of OFWs in 2021 was estimated at 1.83 million as of December 2022, according to the Philippine Statistics Authority (PSA).

PSA said Overseas Contract Workers (OCWs) or those with existing work contracts, comprised 96.4 percent or 1.76 million of the total OFWs during the same period. Other OFWs who worked abroad without working visas or work permits such as tourist, visitor, student, medical, and other types of non- immigrant visas but were employed and working full time in other countries from April to September 2021 accounted for 3.6 percent share. 

The top five destinations of OFWs were the following: Asia (78.3%), Europe (9.3 %), North and South America (8.9%), Australia (2.2%) and Africa (1.3 %). Of the total 1.83 million OFWs in 2021, about 24.4 percent worked in Saudi Arabia followed by the United Arab Emirates at 14.4 percent. Other countries in Asia with a large number of OFWs include: Hongkong (6.7%), Kuwait (5.9%), Singapore (5.8%), and Qatar (4.8%).

Many Filipinos prefer to work abroad because of the promise of high salaries and other fringe benefits compared to what local companies pay. (Mindanao Examiner)