Sending Love from Afar: Why Remittance Matters
It’s tough to be away from home. But some of you make that sacrifice, not for yourselves, but for the ones you love-your families. Overseas Filipino Workers (OFW) like you go abroad, leaving behind the familiarity of sights, sounds, and warmth of home to provide a brighter future for those you hold closest to your heart.
Yet, even when continents away, you extend a lifeline that binds you to your loved ones - remittances. These remittances are more than just financial transactions; they are the vital thread that keeps your connection alive, nourishing the hopes and dreams of your family back home.
What is a remittance and why it matters:
At first glance, remittance might appear straightforward-sending money. But it’s a way to support your family by sending a portion of your hard-earned money back home. Remittance serves as a lifeline for three things:
Financial Stability for Families
Most migrant workers like you who work abroad are motivated by one thing: providing a better future for their families. That’s why 75% of remittances are used to put food on the table and cover medical expenses, school fees, or housing expenses.
Economic Contribution to the Country
In 2020, despite the harsh challenges posed by the COVID-19 pandemic, remittances from OFWs reached over $33 billion, accounting for about 9% of the country’s GDP. These flows of foreign exchange stabilize the Philippine peso, which in turn helps control inflation and fuels economic growth.
The money you send back home doesn’t just benefit your families; it reverberates throughout the nation, stimulating local businesses and creating investment opportunities.
Empowerment and Rootedness
Working abroad can be challenging, often accompanied by homesickness and isolation. That’s why remittance is more than just a financial transaction-it symbolizes the hard work, sacrifice, and unwavering love that OFWs like you have for your family. It reminds you of your roots and connects you with your heritage, helping you navigate the challenges of working in a foreign land.
It offers you a sense of purpose and dignity, knowing that your efforts make a real difference in the lives of your loved ones.
A better way to send money home
Remittance transforms you, your family, and your country. That’s why choosing the right partner matters - choose BCRemit.
We for migrants by migrants. Your financial security and convenience are our top priorities. We offer low fees and competitive exchange rates, ensuring your hard-earned money efficiently supports your loved ones. We stand by you, the unsung heroes working abroad. We’ll ensure that sending money home will not just be hassle-free but a step towards a brighter future.
