Safeguarding Each Depositor's Wealth: Discover How Bank Deposits Secure Your Funds and Achieve Your Objectives
Every year, millions of Filipinos experience the heart-wrenching decision to say goodbye to their families for the opportunity to earn more and secure a better life. Mothers and fathers miss out on witnessing their children's growth, while young adults and singles are suddenly thrust into the role of being the primary breadwinners.
Data from the Philippine Statistics Authority (PSA) shows that the number of Overseas Filipino Workers (OFWs) between April and September 2023 was approximately 2.16 million, marking a significant surge of 9.8% compared to the estimated 1.96 million in 2022.
Miguel, who's been overseas for nearly eight years, share his journey of moving to the US with the help of a relative who was already a green card holder.
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Interestingly, though not clearly indicated in the PSA data, Statista reports suggest that the number of deployed OFWs showed signs of rebounding in 2023, exceeding pre-pandemic levels[3]. Moreover, preliminary figures for 2024 hint a staggering 2.47 million Filipinos left their homeland to work abroad, which is higher than the previous year's estimates[2]. For the most accurate and detailed data from the PSA, one would need to access their official reports or databases, as the available search results mainly cite general trends and statistics from other sources. The PSA, tasked with conducting national surveys and providing comprehensive labor and migration statistics, is the foremost authority for such specific data.
The surge in the number of OFWs in 2023 is a testament to the ongoing pursuit of better opportunities in personal-finance, as the PSA reported approximately 2.16 million individuals leaving the country, marking a 9.8% increase from 2022. This trend, which is indicative of a thriving business environment, exacts a toll on relationships, with many Filipinos leaving their families to secure a better lifestyle abroad.
