'Sharp increase' in OFW remittances seen in Q1 2023 - DMW

ABS-CBN News

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='Overseas Filipino workers queue at the departure area of the Ninoy Aquino International Airport Terminal 1 as they process their travel documents for their overseas trip on May 31, 2021. Jonathan Cellona, ABS-CBN News/File' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2021/news/10/14/20210531-international-airport-departure-jc-025224160.jpg' ><figcaption>Overseas Filipino workers queue at the departure area of the Ninoy Aquino International Airport Terminal 1 as they process their travel documents for their overseas trip on May 31, 2021. <em>Jonathan Cellona, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA — The Department of Migrant Workers is expecting a "sharp increase" in remittances from overseas Filipino workers by the first quarter of 2023.</p><p>"I think we are looking at a sharp increase in remittances by the first quarter of 2023," DMW Secretary Susan "Toots" Ople told ANC's "Headstart" Wednesday.</p><p>"Unless any cataclysmic event occurs, we are looking at perhaps, may I be optimistic? Baka doubling of remittances," she added.</p><p>Personal remittances by Filipinos working abroad grew 4 percent in September to $3.15 billion, according to the Bangko Sentral ng Pilipinas.</p><p>The increase in personal remittances was due to remittances sent by land-based workers with work contracts of 1 year or more and sea- and land-based workers with contracts of less than 1 year, the central bank said in a statement.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/11/15/22/cash-remittances-up-38-percent-to-28b-in-september'>Cash remittances up 3.8 percent to $2.84 billion in September</a></li></ul><p>Ople cited 3 reasons for the possible "sharp increase" in remittances by next year: the reopening of Saudi Arabia market, new labor markets in Europe and acute labor shortage.</p><p>The Middle East state, the DMW chief said, is "the biggest labor destination country" of migrant Filipino workers.</p><p>In the first quarter of next year, the Philippines will also open new labor markets in Portugal, Romania and Hungary, she said.</p><p>In particular, Portugal is in need of workers especially in the tourism sector, Ople said.</p><p>"Sabi sa akin, they're not even thinking of imposing a quota kasi they badly need workers [in] all [areas]," she said.</p><p>The DMW chief said European countries are also facing an acute labor shortage.</p><p>"Their young people migrating and some don't want to work in some of these occupations," she said.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/video/news/11/09/22/matapos-ang-deployment-ban-saudi-bukas-na-para-sa-ofws'>Matapos ang deployment ban, Saudi Arabia bukas uli para sa mga OFW</a></li></ul><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2360575' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

<p>Personal remittances by Filipinos working abroad grew 4 percent in September to $3.15 billion, according to the Bangko Sentral ng Pilipinas.</p><p>The increase in personal remittances was due to remittances sent by land-based workers with work contracts of 1 year or more and sea- and land-based workers with contracts of less than 1 year, the central bank said in a statement.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/11/15/22/cash-remittances-up-38-percent-to-28b-in-september'>Cash remittances up 3.8 percent to $2.84 billion in September</a></li></ul><p>Ople cited 3 reasons for the possible "sharp increase" in remittances by next year: the reopening of Saudi Arabia market, new labor markets in Europe and acute labor shortage.</p><p>The Middle East state, the DMW chief said, is "the biggest labor destination country" of migrant Filipino workers.</p><p>In the first quarter of next year, the Philippines will also open new labor markets in Portugal, Romania and Hungary, she said.</p><p>In particular, Portugal is in need of workers especially in the tourism sector, Ople said.</p><p>"Sabi sa akin, they're not even thinking of imposing a quota kasi they badly need workers [in] all [areas]," she said.</p><p>The DMW chief said European countries are also facing an acute labor shortage.</p><p>"Their young people migrating and some don't want to work in some of these occupations," she said.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/video/news/11/09/22/matapos-ang-deployment-ban-saudi-bukas-na-para-sa-ofws'>Matapos ang deployment ban, Saudi Arabia bukas uli para sa mga OFW</a></li></ul><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2360575' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

<p>"I think we are looking at a sharp increase in remittances by the first quarter of 2023," DMW Secretary Susan "Toots" Ople told ANC's "Headstart" Wednesday.</p><p>"Unless any cataclysmic event occurs, we are looking at perhaps, may I be optimistic? Baka doubling of remittances," she added.</p>

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='Overseas Filipino workers queue at the departure area of the Ninoy Aquino International Airport Terminal 1 as they process their travel documents for their overseas trip on May 31, 2021. Jonathan Cellona, ABS-CBN News/File' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2021/news/10/14/20210531-international-airport-departure-jc-025224160.jpg' ><figcaption>Overseas Filipino workers queue at the departure area of the Ninoy Aquino International Airport Terminal 1 as they process their travel documents for their overseas trip on May 31, 2021. <em>Jonathan Cellona, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA — The Department of Migrant Workers is expecting a "sharp increase" in remittances from overseas Filipino workers by the first quarter of 2023.</p>

The Department of Migrant Workers is expecting a 'sharp increase' in remittances from overseas Filipino workers by the first quarter of 2023.

'Sharp increase' in OFW remittances seen in Q1 2023 - DMW | ABS-CBN News

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'Sharp increase' in OFW remittances seen in Q1 2023 - DMW

'Sharp increase' in OFW remittances seen in Q1 2023 - DMW