OFW Remittances Projection this 2022

Status of OFW Remittances in the Philippines this 2022 - Camella Manors - Photo Courtesy from OWWA

According to a report of the Philippine Statistics Authority (PSA), there are 2.2 million OFWs as of April to Sept. 2019. The government reptriated around 800,000 overseas workers since the onset of the global health crisis in May 2020. Prior that the Philippine Overseas Employment Association (POEA) usually deployed an average of 2 million OFWs per year. Did you know that OFW remittances have consistently been the fourth largest in the world after India, China, and Mexico? 

The biggest OFW remittances to the country came from different countries around the world. These countries are United States, Singapore, Saudi Arabia, Japan, and the United Kingdom. Joining in the group are the United Arab Emirates, Canada, Taiwan, Qatar, and South Korea. The United States accounted for about 40.8 percent of the total OFW remittances country sources, says the BSP. For 2022, the BSP maintained its remittance growth projection to 4 percent this year. 

In October 2021, Bangko Sentral ng Pilipinas (BSP) showed an increase in OFW remittances marking the ninth straight month of annual growth inflows. According to a report by Business World, remittances in those 10 months last year totalled to $25.929 billion. Hence, this shows a 5.3 percent increase compared from the $24.633 billion in the same period of 2020.

OFW Remittances: A Testimony of Sacrifice

Overseas Filipino Workers or OFWs are the modern-day heroes because of the sacrifices they make abroad. Sacrifices to help provide for their families at home. They work hard overseas in order to give their loved ones a good life and a better future. Not only that, OFWs are deemed heroes of the country because they help fuel the economy through their remittances. Remittances of Overseas Filipino Workers continue to support domestic growth through the years.

The Philippine Overseas Employment Administration (POEA) said that the demand for OFWs abroad continue to recover this year. This in in spite of the continuous Omicron variant spread. Countries like Israel and the United Kingdom continue to hire OFWS. The OFWs who are particularly health care workers amidst the surge of the Omicron variant. A report from Business Mirror shares that the high demand for Filipino health care workers and seafarers remain a contributor to the growth of the country’s deployment figure last year, which reached  675,500 as of November 2021. Compared to 2020, this figure is a bit higher to the 560,000 deployed.

Wise Investment for OFWs

Aside from sending remittances to their families, investments are also one of the things that OFWs look at. Most of them look for opportunities to invest in a property or a business. An investment that they can develop and use in the future. Having a fallback or an alternative source of income would be a good idea. Moreover, this is helpful especially since most overseas workers still plan to go back to the country after their contract. Real estate is a good investment for OFWs because it is a tangible asset with a high potential return. Nothing beats the feeling of going home and seeing a visible testament to one’s years of hard work. 

If you are looking for a condo in Batangas, Camella Manors offers a resort-themed condo. It is in the heart of Lipa. OFWs will find a good balance of the urban and suburban living in the thriving city of Lipa. Real estate investment in the area holds a bright future due to the city’s promising growth.  Lipa City has a vibrant economic forecast with the presence of a booming Business Processing Outsourcing (BPO) industry, call centers, and other IT related firms. The city is also named as one of the Top 10 cyber growth corridor in the Philippines in the recent years.

Camella Manors Lipa: Experience a Life Well-Lived

OFWs looking for the best value for their hard-earned money should choose their investments wisely. A condo investment holds promising returns as it appreciates in value quickly, whether you plan to settle or rent out the place. Location is a definite factor when it comes to investing. A strategic location gives you an edge because of the convenience and accessibility it brings.

Camella Manors Lipa offers all that and more. As one of the pioneering vertical developments in Lipa City, it is considered to be the biggest condo development in Batangas and the first resort-themed university condo in Lipa.

Camella Manors is Vista Land’s newest mid-rise condominium brand located in the regions and nearby provinces of Metro Manila. It promotes an all-in lifestyle needs and resort-themed amenities that will cater to young professionals, starting families, investors, and Overseas Filipino Workers (OFWs). 

Camella Manors Lipa is strategically located in Tibig, a quiet and exclusive site that is conveniently close to Lipa’s City center. You can also conveniently travel to and from Metro Manila as the condo is only 80 kilometers away from the metro city. 

This resort-themed condo  has the most expansive amenities among all the Camella Manors projects nationwide. Spanning 2.8 hectares, it features a badminton court, function hall, jogging path, paring space, swimming pool area, clubhouse, fitness gym, play park, and a play court. Buildings 1 and 10 both houses commercial areas at the ground floor.

You can enjoy a refreshing lifestyle experience here as it is one of the few Pine-estate condo developments in the country. Now you don’t need to go far to have a vacation. The lush and panoramic vibrance of green spaces accented with fresh Caribbean pine trees create a chill and laidback atmosphere perfect for a vacation home in the city. 

Invest in the Biggest Condo Development in Lipa

Camella Manors Lipa - Condo in Batangas - Swimming Pool Perspective
Camella Manors Lipa – Condo in Batangas – Swimming Pool Perspective

Experience an elevated condo lifestyle with the additional features of a 24/7 Security, verdant landscapes, accessibility to all sectors of the society, nearby tourist spots, and smart condo living. It is also a pet friendly community that can accommodate your favorite fur babies.  The premiere pine-estate condo develeopment in Lipa is strategically located in a prime investment address close to many essential establishments like shopping malls and retail centers, leisure and entertainment, schools and universities, medical centers and hospitals, churches, and major infrastructures.

Tourist destinations are nearby, giving you a convenient access to a lot of recreational activities such as mountain hiking, marine diving, food tripping, beach hopping, glamping or embarking on a pilgrimage.

Camella Manors is also the first resort-inspired university condo in Lipa that caters to the education hub in the city. Students and teachers can look at the dorm-for-rent investment to give them more flexibility in their pursuit for a comfortable abode near school. 

Pre selling of units is ongoing. To find out more about Camella Manors Lipa, check out their official Facebook Page or their website at Reservations can also be done conveniently and hassle-free through an easy-to-use online payment facilities.

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