Filipino nurses who have migrated to the US are contributing about P2 billion to the economy annually but it is likely to grow with more nurses eyeing to work there, healthcare firm Health Carousel CEO John Sebastian told ANC on Wednesday.

"We recently commissioned an economic study which indicated that those 3,000 nurses that come to the United States, on an annual basis remit back to the Philippine economy in excess of P2 billion," he said.

"With the additional migration, we expect in the next 3 to 5 years we believe that it can double," he added.

The company is helping nurses migrate to the US and has continuously been investing in the Philippines in the form of scholarships for nurse educators and exercise camps to develop successful candidates, Sebastian said.

"We make it a 2 way street, investing back into the Philippine economy while we also invest back in the United States," he said.

Demand for healthcare workers globally spiked during the COVID-19 pandemic but it had also caused burnout in nurses, he said.

The goal, he said, is to help more nurses find opportunities in the US.

Filipino nurses are drawn to work in the US where the minimum salary is about P1,500 per hour, Health Carousel said.

In 2021, Filipino nurses accounted for 4 percent of registered nurses in the US or around 150,000, data showed.