Only 2 Out of 10 OFWs Invest - AC Nielsen

Thursday, November 03, 2011

OFW Expo|Balikbayan Business Expo

DESPITE the availability of assistance programs and light payment or investment schemes, only two overseas Filipino worker (OFW) households out of 10 choose to invest or save the remittances they regularly receive.
Based on a study made by The Nielsen Co., only around 17 percent of households said remittances go to savings and investments, while a whopping 96 percent of OFW households spend it on basic needs, such as food, utilities, bills, rent and education.
This data is very alarming and it only makes the task compelling in creating avenues for OFW and Balikbayan to be educated in entrepreneurship and wise investment.
In 2010 OFWs sent a total of $18.7 billion worth of remittances. If a large chunk of this remittance is invested into creating business a lot of people will have jobs and the trend of going abroad just to earn for a living will be abated.
This is the reason why Mega Balikbayan OFW Expo, an eight year event advocating entrepreneurship and investment directed at OFWs and Balikbayan continue to grow and reach-out this segment of the society.
Business has a multiplier effect that can make the nation progressive. The OFWs and Balikbayan have the income to enter in a business provided they are guided and educated there is no reason they cannot be successful in this field.
Government figures showed that for the January-to-June period, OFWs already sent $11.3 billion worth of remittances, despite the global crises, which initially was expected to cut remittances in 2011.
This figure if only we can harness has a very promising potential in stimulating our economy to unprecedented growth.
As for Mega Balikbayan OFW Expo, the event is slated this December 9-11,2011 at Megatrade, SM Megamall.
For more information, call tel. 643.3887 or email at

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