Is the Diaspora Paying Off?

Typical of the Philippines, Guinarona has a high rate of temporary migrants living and working abroad. Not really a be-all-and-end-all thing for them, but to rise up and afford the upkeep of their households and the best education for their wards.

Overall, remittances by overseas Filipino workers constitute a whopping 9 percent of Philippines Gross Domestic Product (GDP), as per above CNN report.

Year in and year out, housing projects by these migrants and their families sprout like mushrooms after a thunderstorm.

With reference to Abraham Maslow’s pyramid of hierarchical needs, would they take their goals to the next level, namely undertaking entrepreneurial projects?

That is our ardent wish. And much kudos to the Philippine government, as for the first time, the country became a net lender instead of the other way around–as in US$1 Billion to the International Monetary Fund. While we are it, with OFW’s cash in-flows, they should fund projects–with good rates– in the countryside such as those based on the coconut.

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