Remittances from overseas Filipino workers are expected to increase as the holiday season approaches.
The Bangko Sentral ng Pilipinas reported a 5.1-percent increase in remittances in August which would likely be sustained through the fourth quarter, with the Christmas holiday season traditionally one of the busiest times to send money overseas.
More than contributing to the economic recovery of the Philippines, remittances have positively impacted countless Filipino lives on a personal level. Despite the hurdles of being away from home, OFWs continued to provide for their loved ones, contributing to their education, healthcare and the establishment of their own businesses.
Melchor Galeon, a Filipino living in Canada who founded and manages FV Foods, a successful Filipino food business in Toronto, said: “I know a lot of Filipinos who are always ‘looking back home’. For them, Canada is a second home and the Philippines is still their main home. That’s because many of them have family back there.”
Galeon said he has worked hard to provide for his family in Toronto but also to take care of his 86-year-old mother who lives in the Philippines. He sends money to her every month through digital payments service WorldRemit to pay for her medication and caregivers and other everyday needs.
“We’ve been working with WorldRemit since the beginning really. I’ve used the WorldRemit services ever since they started promoting themselves to the Filipino community,” he said, adding that the brand has provided him and his family with trustworthy and reliable service for more than a decade.
For many Filipinos abroad and especially those who have migrated on their own, the transition has not been easy.
“It was painful to leave my family because Filipinos are very family-oriented,” said Glenn, a recent Filipino immigrant in Canada. For Glenn, being able to provide for his family was his main motivation for moving abroad.
“I think Filipinos are generous because of the collectivist culture. We always want to stick together, and family is first. Sending money back home is a way of giving back to your family, and you just feel very good about yourself that you’re helping your family and the community,” he said.
Earl Melivo, country director for the Philippines at WorldRemit, said: “We at WorldRemit understand the transformative power of remittances and how they improve the lives of Filipinos everywhere. Through remittances, Filipinos have improved different aspects of their lives from providing quality education to their children, to starting their own businesses and for many, building their dream home. We remain committed to supporting them on their journey to better opportunities.”
WorldRemit provides Filipinos working overseas a fast, convenient and secure way to send money to their loved ones in the Philippines. Over the last 11 years, the company has worked to ensure that OFW’s hard-earned money goes further and empowers them with more freedom to fulfill their dreams and ambitions.
Liebe Ann, a Filipina living in Bavaria, Germany, has supported her siblings’ education by sending them money through WorldRemit. “We all know how important education is. It is one of the most important things that our parents and loved ones can pass onto us, and we should cherish it and thank them for the sacrifices they made to give us an education,” she said.
She said the platform enables her to send money to her family almost instantaneously, giving them the resources they need when they need them.
“Liebe Ann, Glenn and Melchor are just some of the many Filipinos living abroad who have worked to give their families in the Philippines better opportunities in life. We are thankful that they chose WorldRemit as their constant companion,” said Melivo.