Ever Wonder How The Phl Survives

[Mr Lee]

Wow! 21.3 BILLION dollars in inflow this year alone. I would bet that the country would collapse without all those remittances, and then I have to wonder just how much more comes in from people who married foreigners and send money home as well as those who permanently moved to other countries and send money home. Add all that up and then I wonder how much the country would make on its own? Anyone know what part of the total economy do remittances play? The Philippines ranks as the fourth biggest recipient of remittances worldwide with an estimated $21.3-billion inflow this year, a new World Bank study showed.The World Bank’s latest Migration and Remittances Factbook 2011 show that OFW remittances have been rising steadily from $10.24 billion in 2003 to $19.76 billion last year. Remittances accounted for 12 percent of the Philippines’ gross domestic product for 2009, the report said.The Philippines trailed India ($55 billion), China ($51 billion) and Mexico ($22.6 billion) in terms of remittances received. Other nations in the top 10 remittance-receiving countries are: France ($15.9 billion), Germany ($11.6 billion), Bangladesh ($11.1 billion), Belgium, ($10.4 billion), Spain ($10.2 billion) and Nigeria ($10 billion).Overall, migrants sent a total of $325 billion to their home countries this year, up six percent from last year.The report further noted that despite the weakening of the developed economies, the deployment of migrants increased, and along with the expansion of new markets, have helped deal with the struggling developed economies.The report also showed that the Philippines ranked ninth in the world in emigrants, with a total of 4.3 million Filipinos out of the countryThe report also showed that a total of 20,149 doctors or 17.5 percent of physicians trained in the Philippines have left the country for jobs abroad.The complete story HERE

[FlyAway]

I wonder how much of an underground economy there really is as well. Large amounts of cash does not find its way into the Philippines via remittance. Every time I go visit there is always a member of someones household that is working overseas sending money home. Seems everyone has that connection. Best anyone can do is "Guesstimate".

[ekimswish]

Wow! 21.3 BILLION dollars in inflow this year alone. I would bet that the country would collapse without all those remittances, and then I have to wonder just how much more comes in from people who married foreigners and send money home as well as those who permanently moved to other countries and send money home. Add all that up and then I wonder how much the country would make on its own? Anyone know what part of the total economy do remittances play?

If the remittances just stopped all of a sudden, the country would definitely collapse. Heck, maybe as far as cannibalism? But if the OFW trend weren't promoted so heavily in the first place, 30 years ago, MAYBE the country would've taken a better approach to development. Then again, it could've been worse.

[Jake]

Wow! 21.3 BILLION dollars in inflow this year alone. I would bet that the country would collapse without all those remittances, and then I have to wonder just how much more comes in from people who married foreigners and send money home as well as those who permanently moved to other countries and send money home. Add all that up and then I wonder how much the country would make on its own? Anyone know what part of the total economy do remittances play?

If the remittances just stopped all of a sudden, the country would definitely collapse. Heck, maybe as far as cannibalism? But if the OFW trend weren't promoted so heavily in the first place, 30 years ago, MAYBE the country would've taken a better approach to development. Then again, it could've been worse.

I'm trying to find this article I read in the Philippines Daily Inquirer reporting that about 30-40 years ago, the country was the top dog in the Asian region. It's economics growth and development was even higher than Taiwan and Korea. Although the article did not explain the spiraling downfall, I believe the separation of the filthy rich and abject poverty continued to widen to the point where more and more people became frustrated. Hence, applying for overseas work became the only way to survive in most cases. Many were college graduates applying for maids and other unskilled jobs. Many came back in a coffin.During Gloria's presidency, the returning OFW were considered national heroes and were given the red carpet treatment upon arrival. She would even appear at the airport for photo op. The gap is still widening -- you will see more and more broken piecesof glass embedded on top of a security wall separating the Mercedes inside and the slum and the filth and the frustration of theoppressed and dejected people. And yet, the typical Filipino is still characterized as being the best in hospitality. They may not have much but their hearts are full of gold. They continue to smile even during extreme hardships. Look back at the photos of people during the floods of Ondoy last year. Some of them are smiling!Respectfully -- Jake

[ekimswish]

 

I'm trying to find this article I read in the Philippines Daily Inquirer reporting that about 30-40 years ago, the country was the top dog in the Asian region.  It's economics growth and development was even higher than Taiwan and Korea.  Although the article did not explain the spiraling downfall, I believe the separation of the filthy rich and abject poverty continued to widen to the point where more and more people became frustrated.  Hence, applying for overseas work became the only way to survive in most cases.  Many were college graduates applying for maids and other unskilled jobs.  Many came back in a coffin.During Gloria's presidency, the returning OFW were considered national heroes and were given the red carpet treatment upon arrival.  She would even appear at the airport for photo op.  The gap is still widening -- you will see more and more broken piecesof glass embedded on top of a security wall separating the Mercedes inside from the slum, the filth and the frustration of theoppressed and dejected people.  And yet, the typical Filipino is still characterized as being the best in hospitality.  They may not have much but their hearts are full of gold.  They continue to smile even during extreme hardships.  Look back at the photos of people during the floods of Ondoy last year.  Some of them are smiling!Respectfully -- Jake

I've had a lot of Koreans tell me that Korea hired Filipino engineers to help them design their bridges 30 years ago, because the Philippines had all the technical expertise. Somehow I think English has been a blessing and a curse for the Philippines. Other Asian countries were left to figure it out for themselves on their own turf. Speaking English so well made it too easy for Filipinos to leave, and still does today. I dunno... just my guess. Still, looking at a map of South East Asia, rather than East Asia, and you see the Philippines ain't that bad at all, considering. I mean, compared to Cambodia, Laos, and Burma, the Philippines kicks butt. It's probably ahead of Indonesia, though more or less equal among the impoverished masses. Probably pretty close with Vietnam, although I hear great things about Vietnam these days. Thailand is probably ahead, but maybe not by much. The big kicker for the Philippines is that it's spread out over so many islands. Historically they would've been separately ruled, but forced to unite under the Spanish. Only Indonesia can really compare to the Philippines in terms of geopolitical difficulties and multicultural confusion. If the Philippines  consisted only of Luzon, roughly the size of the other SE Asian countries, and everyone spoke the same language, I'm sure life would be a lot easier to manage. As it is, it's nothing like that, and IMO, a million times harder to govern. Just like a lot of former colonies, it was probably never meant to be one country, but several. But that's another hypothetical we'll never know. Edited November 10, 2010 by Mr. Lee
repair quote

[ekimswish]

Just looked up Asian GDP's (ppp) on Wikipedia for 2009, and the Philippines was about $3500, above Vietnam, Laos, Cambodia, Burma, and East Timor, but behind Indonesia ($3900), Malaysia ($14000), Thailand (can't remember ?8500?), Singapore ($50,000), and Brunei ($50,000?). I think that's accurate, though you might want to look for yourself. Anyways, considering the size, multi-lingualism, island regionalism mentality, I think that's not too shabby. (PS: I might be making words up).The encouraging thing is, I don't think they include overseas remittances in that number. Though it won't help everyone, it sure helps some. $20billion divided by 90million people adds over $200 per person. PS: I have no idea what I'm talking about. Completely sober, I would now like one of those drunk tests to stop me from embarrassing myself with this hole-filled post.

[Jake]

Hey Mike,Are you a student of history or anthropology? Your comments certainly rings some truth and are thought provoking. Your hypotheticalscenario about the three major island groups merged into a single and larger Luzon island got a nod from me. Even the logistic problemslike from farm to market, communications, infrastructure and central government would no longer be a nightmare as it is today. And itsstrategic location for local and international affairs within the region would reclaim its position as the top dog of Far East Asia. A pitcher of Mojo to you sir -- Jake

[ekimswish]

Hey Mike,Are you a student of history or anthropology? Your comments certainly rings some truth and are thought provoking. Your hypotheticalscenario about the three major island groups merged into a single and larger Luzon island got a nod from me. Even the logistic problemslike from farm to market, communications, infrastructure and central government would no longer be a nightmare as it is today. And itsstrategic location for local and international affairs within the region would reclaim its position as the top dog of Far East Asia. A pitcher of Mojo to you sir -- Jake

Not really. Just a fan of the underdog, so everytime I meet someone from a minority group I ask if they hate "the man". They usually tell me no, so I ask them more leading questions, thirsty for blood as I am, and am thoroghly disappointed, but impressed, when they still harbor no ill-will to "the man". Still, blood-shed or no blood-shed, I think minority groups need to protect their languages and culture or kiss them good bye, and what kind of a world would that be like to live in?