Mr Lee Posted August 12, 2009 Posted August 12, 2009 I have taken a serious cut in my income and I know most of my friends all over the world have also, so I am lost as to how OFW are keeping up the money they send home? I know all about Asia and the Middle East, but how can they possibly offset the rest of the world? HSBC amazed at remittances HSBC has kept its 1-percent growth forecast for the Philippines, but yesterday admitted that its initial expectation of a 20-percent decline in remittances was Link to comment Share on other sites More sharing options...
TheMason Posted August 13, 2009 Posted August 13, 2009 I have taken a serious cut in my income and I know most of my friends all over the world have also, so I am lost as to how OFW are keeping up the money they send home? I know all about Asia and the Middle East, but how can they possibly offset the rest of the world? HSBC amazed at remittances HSBC has kept its 1-percent growth forecast for the Philippines, but yesterday admitted that its initial expectation of a 20-percent decline in remittances was Link to comment Share on other sites More sharing options...
jamesmusslewhite Posted August 13, 2009 Posted August 13, 2009 Family imposed guilt...... Link to comment Share on other sites More sharing options...
Travis Posted August 14, 2009 Posted August 14, 2009 Family imposed guilt...... must be some pretty big guilt to make ofw's starve & do without to send more home :23_11_59[1]: Link to comment Share on other sites More sharing options...
mikejwoodnz Posted May 18, 2010 Posted May 18, 2010 Family imposed guilt...... must be some pretty big guilt to make ofw's starve & do without to send more home :17403:Actually it's a little bit of both - but the other way around - both my wife and myself still have excess income here in NZ and are in no danger of starving BUT her Philippine family do not have excess income so in a Global Recession they can play the trump card of guilt imposition. Her monthly support to the Philippines has increased by 30% but that represents a minor % dip in our gross overage and does not affect our necessities it simply means slightly lower elective spending Link to comment Share on other sites More sharing options...
f3dragonjedi Posted May 18, 2010 Posted May 18, 2010 Wow....this is really resurrecting an old thread! I think conditions for OFW's and others sending money to family in the Philippines are probably better first half of 2010 than it was 4Q08 and most of 2009. My gf has family including her father working abroad, mostly in the Middle East. I can attest to Mike's comment that the remittance levels were being maintained by increase in number of workers. Family members significantly dropped the amount they were sending home when their hours on construction projects were cut back. Link to comment Share on other sites More sharing options...
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