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Filipino workers sent a record $38.34 billion in remittances home in 2024, up 3% from 2023.
Remittances from overseas Filipino workers reached a record $38.34 billion in 2024, a 3% increase from 2023, according to the Bangko Sentral ng Pilipinas.
The growth was mainly from the U.S., Saudi Arabia, Singapore, and the UAE, contributing to 8.3% of the Philippines' GDP.
Factors like Christmas spending, higher domestic inflation, and a weaker Philippine peso against the US dollar drove the increase.
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Los trabajadores filipinos enviaron un récord de 38.340 millones de dólares en remesas a casa en 2024, un 3% más que en 2023.