Since the start of 2024, expatriate Filipinos working or living around the world have sent home a total of $24.7 billion. This growth reflects the consistent flow of remittances from both land-based workers with long-term contracts and sea- and land-based workers with shorter engagements.
This steady growth is largely driven by land-based workers with long-term contracts, as well as sea- and land-based workers with shorter-term contracts, the Bangko Sentral ng Pilipinas said in a statement on Monday.
The Bangko Sentral ng Pilipinas said this growth was primarily driven by higher remittances from land-based workers with contracts of one year or more, as well as sea- and land-based workers with shorter contracts.