Wednesday, October 31, 2007

PINOY REMITTANCES CONTINUE TO RISE

A Canadian client once told me that Filipinos are very remarkable.

Of all the immigrant races in North America, they are the only ones who send money back home.



UCPB remittance business up 14%

7 comments:

stuart-santiago said...

i wonder just what part of pinoy remittances come from pinoys who immigrated to north america. i suspect, correct me if i'm wrong, that most of the billions of dollars comes from ofws in the middle east, europe, and asia.

jc smith said...

I actually thought that there are more Pinoys and remittances from the Middle East but an ADB study shows otherwise. In terms of quantity and volume of remittances, the Americas overwhelm all other territories combined.

http://www.adb.org/Documents/TARs/PHI/tar-phi-4185.pdf

Page 13 and 15.

Regards!

Lotus Flower said...

Truly one admirable Filipino trait - thinking of people back home.

And one big business opportunity for banks and other entities like Western Union. I think most if not all banks have Remittance part of their banking business.

I used to sell a locally(R.P) developed remittance system. I thought I had something in the bag with a large bank but Smart(the TELCO) came in. So out of the door we went. Aarrgghh!

Cheers!

stuart-santiago said...

really? thanks, jc smith, will check it out.

jc smith said...

Lotus Flower: Do you have a website showcasing that system? Smart, in my opinion is not very effective its remittance business. I can call on people to help you.

Francesca said...

i joined the no remittance send nov 1 and 2.
If it helps, wish it would to ofws, na tinataga ng mga money changers sa bansa.

jc smith said...

Hi Francesca, I heard about that campaign but don't really know anything about it. Will look it up and comment. Thanks!

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