Higher remittances

The Information Technology and Business Process Management expects remittances of migrant Filipino workers to grow by as much 18 percent in the next two to three years.

The association said in a statement the industry would enjoy remarkable feats of advancement, including in remittances.

Workers’ remittances comprise a significant portion of the services sector and of the country’s total annual exports.

Remittances in 2014 registered a record $26.93 billion, topping the Bangko Sentral ng Pilipinas target of 5 percent growth with a 6.2 percent increase. Remittances in the first semester of 2015 reached $12.18 billion, up 5.6 percent year-on-year.

Trade Department bureau director for export marketing and trade promotions Senen Perlada said the Philippines as part of the Asean Economic Community would have more opportunities open to skilled workforce and even professionals in the region.

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