How Do You Spend 14 Billion Dollars?!
Unfortunately, it’s not MY money. If Xinhua News Agency is to be believed, 14 billion dollars [yes, in $$$] poured into the hands of lucky Filipinos courtesy of their loved ones working overseas as OFW [Overseas Filipino Workers]. FOURTEEN FOLLOWED BY A LOT OF ZEROS AND PRECEDED BY A DOLLAR SIGN. John Galt will be proud.
This year, the projection is that remittances will breach 16 billion dollars with OFW stats increasing by 1 million this year. I can’t even begin to numerically write that, too much zeros. And that is only the legitimate remittance calculations okay. All of us who know somebody working “abroad” knows that for every hundred dollar you remit via traditional channel, there’s another hundred dollar that you’ll probably send home through a balikbayan [pakisuyo naman] or enterprising pinoys based overseas [ofws or immigrants] who accept your dollars and instruct their contact [most likely a family member] back home to send money [either through a wire transfer or cash] to the intended party — this practice is very helpful specially to those who needs the money sent home asap but does not have the full amount to remit [hulugan baga!].
I wonder then why, oh why!, are Filipinos still complaining how hard life is back home? Just who received a slice of that 14 billion dollars last year?! We’re talking individual remittances here, not corporate okay. And were are they spending it?! Can I PLEASE have some too!
A lot of marketers keep on marketing to the OFWs, I’d say, market to those on the other end of the line dummy. Imagine receiving free cash just by being a relative. Really, where and how do you guys spend 14 billion dollars?If you happen to be reading this post and one of those who received remittance last year. I really want to know [lol, not too nosy huh].
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