Filipinos in US injected $14.89B to Phl economy via remittances

SAN FRANCISCO, CALIFORNIA – President Ferdinand Marcos Jr. on Tuesday evening (US Time) lauded the Filipinos in the United States for their essential role in revitalizing the Philippine economy.

During his meeting with the Filipino community here, Marcos said that the overseas Filipino workers in the United States "injected" $14.89 billion" into the Philippine economy in cash remittances in 2022, making the United States the Philippines' biggest single source of remittances.

Marcos then recognized the hard work of Overseas Filipinos in the US. He thanked the Filipinos in the US for making a "positive image of the Philippines and of the Filipino people."

"I know that you all came to the United States for many different reasons, mostly economic. You sought greener pastures and a better life for yourselves and your families, but this did not stop you from giving back to your homeland, to the Philippines," Marcos said.

"I cannot help but feel proud of your achievements. Be grateful for all that you do that create a positive image of the Philippines and the Filipino people in America," he added.

There are now more than 4 million Filipinos and Filipino Americans in the US, of which 1.3 million reside in the jurisdiction of the consul general of San Francisco. Out of that figure, around 700,000 Pinoys live and work in the San Francisco Bay Area.

Marcos said Filipinos abroad, including overseas Filipino workers (OFWs), have an outstanding reputation because of their good traits.
He hailed the Filipino nurses, doctors, first responders, and essential workers in the US who have demonstrated the "timeless Filipino virtues of compassion, companionship, and teamwork," especially at the height of the COVID-19 pandemic.

"(During the COVID-19 pandemic), Americans experienced first-hand the Filipino way of caring and acting on the needs of others. One in every five nurses here on the West Coast are trained in the Philippines," Marcos said.

He also commended the rising number of Filipino Americans in the Bay Area and Silicon Valley, who are now active partners in Philippine development and nation-building.

Hence, Marcos gave the US-Filipino community the reassurance that his administration is making every effort to make life better for Filipinos nationwide.

Along with this promise, Marcos stated that the government would work harder to change the Philippine economy and adapt it to the "new global post-pandemic economy."

He claimed that his administration is digitizing public services to facilitate transactions with government agencies.

"From then until now, you have been proving that you are the new heroes of our generation. That's why in the 'Bagong Pilipinas' ('New Philippines') that we are advocating, your government wants to reward your efforts to give our children a better future," Marcos said.

Marcos is attending the 30th Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) in San Francisco, California.

He will also meet with the Filipino communities in Honolulu, Hawaii, and Los Angeles, California, off the sidelines of the APEC conference.

Along with seeing the signing of numerous agreements on priority areas like digital infrastructure and connectivity, renewable energy, electronics manufacturing, health, and tourism, the President is also anticipated to host roundtable sessions with leading US business executives.