PHILIPPINES REAL ESTATE & MEDICAL TOURISM
Overseas Filipinos fuel property sector boom
The impact of Filipino overseas workers (OFWs) on the Philippines’ economy continues to fuel growth and create wealth and opportunities throughout the country.
The estimated ten million overseas Filipinos worldwide (11% of the total population), are referred to as ‘modern day heroes’ by both the Philippine government and their fellow countrymen. Remittances from OFWs today account for 13.5% of the country’s gross domestic product (US$18.3 billion – up 7% from January to November of last year) and is expected to reach $20 billion in 2012.