Repatriated overseas Filipino workers (OFWs) from Abu Dhabi are seen inside a plane after it arrived in Manila in this file photo. The Philippine government has repatriated OFWs affected by the conflict in the Middle East. — PHILIPPINE STAR/RYAN BALDEMOR
By Katherine K. Chan, Reporter
FILIPINOS WORKING in the Middle East are likely to send more money home in the coming months to help their families cope with faster inflation driven by the energy crisis, while also taking advantage of the peso’s weakness to maximize the value of their remittances, analysts said.
“Overall, analysts expect remittances to remain fairly resilient, unless the war severely disrupts labor markets or triggers mass repatriations,” Ser Percival K. Peña-Reyes, a senior research fellow at Ateneo Center for Economic Research and Development, told BusinessWorld in an e-mail.
“Historically, OFW (overseas Filipino worker) remittances have proven durable during geopolitical and economic shocks because Filipino workers prioritize supporting families during uncertain periods,” he added.
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