Last year, the total amount of overseas Filipino remittances (OFW) was officially recorded at US$12.8 billion (Bt445 billion), just above 10 per cent of the GDP. The Philippines is now the world's third highest remittance-recipient country after India and Mexico, and the highest when remittances are measured as ratios to population, GDP and exports.
-Philippines' reliance on foreign remittances carries significant costs
Related;
Social Entrepreneurship as a Key to Development in the Philippines
A good provider is one who leaves
Migration and remittances: leaving in order to live
Blog of an economist from Philippines- Rational Choice
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