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Oct 29 13, 3:31 pm

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Philippine remittances from UAE show biggest jump among major sources

by | Uncategorized

Oct. 29, 13 | 3:31 pm

DUBAI- Among the major sources of personal remittance inflows to the Philippines, the United Arab Emirates came on top in terms of  percentage increase in remittances sent home by Pilipinos working abroad, according to the Bangko Sentral ng Pilipinas (BSP).

This suggests that job creation in the UAE and deployment of Filipino workers to the Emirates are healthy as the Arab nation continues its economic recovery and development.

In the eight months to August, remittance inflows from the UAE totaled $737,260, up 26.8 % from the same period a year ago, latest preliminary data from the BSP showed.  This growth outpaced the increase in remittance inflows  from other major sources of remittances including the US and UK.

The central bank said the other sources of worker remittances to the Philippines were the United States,  Saudi Arabia, the United Kingdom, Singapore, Canada, and Japan.  Remittance inflows  in January-August period in the U.S. were up 7 percent from yearago; Saudi Arabia up 16.4 percent ; UK  up 20.4 percent; and Singapore up 21.6 percent.  Remittances from  Canada  fell 48 percent while repatriation from  Japan went down 32.6 percent.

Across  the globe, personal remittances from overseas  Filipinos totaled $16 billion in January-August of this year,  up 6.6 percent from the same period last year. In August alone, these remittances reached $2.1 billion,  the fifth consecutive month that personal remittances exceeded the $2 billion mark.

Remittances from around 10 million Filipinos living and working abroad, who account for about 10 percent of the Philippine population,  are  the lifeblood of the Philippine economy,  keeping consumer spending robust and providing support to the peso.

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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