In 2011, overseas Filipinos (OFs) remitted about US $20.11 billion to the Philippine economy, an increase of 5.4 percent over the previous year despite the downturn in the global economy (BSP). Directly or indirectly, 90 million Filipinos in the Philippines depend on the remittances of the estimated 9 million OFs.
Lately, the linkage between remittance and development have been vastly explored in numerous studies conducted by academicians, international organizations and private institutions. Numerous efforts have also been initiated primarily by the Bangko Sentral ng Pilipinas to capture most of these remittances through formal channels, such as banks.
An effective way of enhancing the value of remittances is by encouraging overseas Filipinos and their dependents to save and invest in the Philippines in general and in their places of origins (communities/town) in particular. We support the Filipino diaspora entrepreneurs in investing and building sustainable enterprises as well as stimulating trade in their places of origin in the Philippines.
Thru this website, we hope to inspire overseas Filipinos to tread the path of entrepreneurship and economic development.