Eng 10

International Remittances and Household Expenditure Patterns:

The Case of Alaminos City

A Research Proposal

In Partial Fulfillment of the Requirements

In English 10

Submitted to:

Ma. Victora Jean Ella

Department of Hmanities

Submitted by:

Lyra Monnette Q. Patricio

BS Economics

2010- 54160

A-3R

CHAPTER I

INTRODUCTION

About four decades ago, Philippines begun to supply different workers- skilled and low skilled, to the the world’s more developed countries. Asis (2004) said that as of December 2004, almost ten percent of the 85 million of the Philippines population, which is approximately 8.1 million Filipinos, were working abroad.

In layman’s term, international remittances is the act of transferring money to recipients to fulfill an obligation. Sicat (2013) defined international remittances as the transmitted money from the wages of the Filipino workers to their families.

Remittances are very important in the Philippine economy. First, this influence the economy’s foreign exchange as it significantly boost the balance of payment and the current accounts of the economy. Second, families of overseas Filipino workers (OFWs) spent remittances to meet the basic needs of the family, educational attendance of their children and investments of the family. Third, as the remittances increases, the country is able to buy more foreign goods and services and able to pay its external and foreign debt.

According to the Philippine Overseas Employment Administration (POEA), the number of workers deployed by type as of 2012 has an estimated workers of 1,802,031. This means that there is an increased by 6.8 percent from the previous data which is 1,687,831

Based on the column presented by Sicat (2013), due to stable growth of remittances from OFWs, the Philippine economy is stable as of today. Banko Sentral ng Pilipinas (BSP) had already announced that as of January- June 2013, the sum of personal...