What is the role of ofw in the economy of the Philippines
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OFW remittances are closing the gap between the poor and the wealthy by contributing to a growing middle class. With improved living conditions and more disposable income, the consumption of goods and services increases, which drives the economy forward.
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OFWs are considered economic heroes of the country because of their significant contribution towards the growth of the Philippine economy. Remittances sent by OFWs accounted for 11% of the total GDP of the country in 2018. ... OFWs are responsible for the surge in the volume of remittances sent back home.
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