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July 20th, 2009 at 7:38 am

OFW Remittances Fund the Bulk of Housing Development in the Philippines

Filipinos working abroad has been a trend in the Philippines because of the unavailability of jobs here in the Philippines that will sustain their family’s living. Some Filipinos would prefer to work abroad because of the multiple number of opportunities there instead of the home country. It’s already been an issue to retain Filipinos to work here and a lot of people consider them as the new heroes of this generation.

The reason of being tagged as the new heroes of this generation is because of their remittances that salvage Philippine economy. During a forum, Holcim’s (Swiss cement company) representative Rey Cervera said that they do not feel that there is an economic turmoil in the Philippines because there is still high demand for cement to construct houses. It is the migrant workers abroad who provide money for the construction of their dream houses. The Philippine cement industry had an 8% increase of sales from last year compared to other Asian countries such as Vietnam, Malaysia and Thailand.


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