According to Patricia Riingen, vice president of Western Union Philippines, A skilled laborer abroad would send back home an average of $300 a month while the amount is double for nurses and entertainers. A nurse working in the United Kingdom, for example, sends home at least $1,000 a month.

Thousands of Filipinos have been drawn into the health care industry abroad because of higher pay. Even doctors here reportedly study to become licensed nurses, particularly in the US.

Remittances from OFWs are said to be the lifeline of the Philippine economy.

Data from the think tank IBON Foundation showed OFW remittances reaching $12 billion in 2003.

According to Bangko Sentral ng Pilipinas (BSP), Remittances from overseas Filipino workers (OFWs) surged in May 2006, bringing the total inflows for the first five months of the year to $4.9 billion. Remittances for May alone reached $1.1 billion compared with $899 million in April.

According to the BSP, the level of remittances during the five-month period was further enhanced by the expansion in the network of remittance centers and tie-ups abroad established by Philippine banks catering to the OFW market.

Steve Peregrino, Western Union marketing manager in the Philippines, said the major sources of workers’ remittances are the US, United Arab Emirates, Saudi Arabia, Italy, Hong Kong and Japan.

The bulk of OFW remittances, however, goes to basic needs such as house rent, clothing, food and education. Little goes to their savings.
References:
The Philippine Star 07/14/2006
The Philippine Star 07/15/2006