Friday, August 3, 2007

Philippine News -- Manila Standard Today -- Migrant workers trust -- july18_2007

Philippine News -- Manila Standard Today -- Migrant workers trust -- july18_2007: "Macro-economic figures show that overseas remittance pie is undoubtedly a big one. From only $1.0 billion in 1989, reported cash remittances passing through the banks steadily rose to $3.9 billion in 1995, to $6.0 billion in 2000, and further to $10.7 billion in 2005. In 2006, remittances reached $12.8 billion. For this year, end of May already saw the inflow of $5.9, making the expectation of $14 reasonably attainable despite the slight decrease in the level of deployment of migrant Filipino workers from January to May this year.

The next few years are anticipated to bolster the significant role of migrant workers remittances in the balance of payment figures. The deployment of Filipino workers is expected to rise as labor importing countries such as the Middle East, Brunei Darussalam, Malaysia, South Korea, Taiwan, and Singapore employ more skilled overseas workers to meet the demands of their growing economies. These countries are expected to provide employment opportunities for highly-skilled and professional workers, particularly in the construction, information technology, hotel and restaurant, tourism, shipbuilding/ship repair, medical and healthcare sectors."

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