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In 2012, approximately 80% of the remittances came from only 7 countries—United States, Canada, the United Kingdom, UAE, Saudi Arabia, Singapore, and Japan. [27] In 2018, remittance had increased to $31 billion, which was nearly 10% of the GDP of the Philippines. [23] In 2019, Overseas Filipinos sent back $32.2 billion to the Philippines. [28]
Country Remittances received (USD millions) Remittances as % of GDP Year India 111,222 3.3 2022 Mexico 61,100 4.2 2022 Philippines 38,049 9.4 2022 France 33,928 1.2 ...
Overseas Filipino Worker (OFW) is a term often used to refer to Filipino migrant workers, people with Filipino citizenship who reside in another country for a limited period of employment. [3] The number of these workers was roughly 1.77 million between April and September 2020. Of these, female workers comprised a larger portion, making up 59. ...
India is the world's top receiver of remittances, claiming more than 12% of the world's remittances in 2015. [ 29 ] [ 30 ] Indians living overseas are the world's largest diaspora. As per the Ministry of Overseas Indian Affairs (MOIA), remittance is received from the approximately 35 million members of the Indian diaspora . [ 31 ]
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
Maya Wallet, powered by Maya Philippines, Inc. and commonly still referred to as PayMaya, allows money transfers between Maya users; send money to other local banks; pay recurring bills; purchase mobile and gaming prepaid credits; pay offline merchants by scanning unique QR codes; checkout from online stores using virtual or physical cards; and get insurance coverage for e-commerce purchases ...
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