One of the largest in human history, the Filipino diaspora spans all over the globe. While the beginnings of this massive emigration are unclear—records place it at 1763 when able-bodied men made the journey to Hawaii to work in sugar and pineapple plantations; other sources state a century before that—it continues to this day and shows no signs of slowing down.
The question persists as to why Filipinos would want to leave the homeland and their families to work in a foreign land, where, more often than not, practically everything could be overwhelmingly unfamiliar. The answer lies not only in the lure of better opportunities overseas, but the effect those very prospects have on Filipinos’ lives and those of their families. Those that leave do so to attain an advantageous life—for those they leave behind.
The Numbers
The remittances sent by Filipinos abroad have been a significant driver of the economy. The Commission on Filipinos Overseas (CFO) estimates there are over 12 million Filipinos living and working in 210 countries and territories worldwide: 4.8 million of which are permanent immigrants, 4.2 million are temporary or under contract, while 1.2 million are undocumented. Of the permanent overseas Filipinos, 65.2 percent live in the United States, 13.1 percent live in Canada, 7.1 percent in Europe, 6.8 percent in Australia, and 3.4 percent in Japan.
With approximately 10 percent of the national population situated in many parts across the globe, the remittances hit 33.2 billion USD in 2020, 0.8 percent lower than pre-pandemic rates of 33.5 billion USD.
The Bangko Sentral ng Pilipinas stated that in 2022, during the onslaught of COVID-19 Delta and Omicron variants, overseas cash transmittals grew by 3.6 percent to 36.14 billion USD. Accounting for 8.9 percent of the gross domestic product (GDP) in 2022, the global pandemic has left the overseas Filipino remittances relatively unscathed.
Modern-Day Heroes
The impact overseas Filipinos have contributed extends beyond economic to the cultural fibers of the country. The sheer sacrifice—of parents leaving off to a foreign land to provide for families whose many milestones they would miss; of brothers and sisters going away from everything they have ever known to search for opportune prospects; of loved ones separating in hopes of securing a bright future together—is a story every Filipino knows and thinks is necessary at present.
Vista Residences, the condominium arm of the Philippines’ largest integrated property developer, Vista Land, understands the travails of Filipinos around the world—the Global Filipinos—and calls them home by building mid- and high-rise condominiums they can invest their tomorrows in.
Building Beautiful Communities in the Sky—for Global Filipinos
Vista Residences believes that no one deserves fine residences in the best locations in the country more than Global Filipinos and their families. They may have immigrated to their country of choosing or have been away for far too long and yearn for spaces that remind them of home.
With a keen knowledge of the Global Filipino, especially of their hopes, aspirations, and preferences, Vista Residences is building vertical communities that not only uphold Filipino sensibilities, but also offer the amenities and services they are used to abroad. Located within central business districts, transit hubs, and university clusters in Metro Manila and key cities, the company envisions creating beautiful condominiums Global Filipinos can be at home in—a place to live in when they visit, retire in, and share with their families. The vertical communities can also be investments, as real estate often appreciates in value, or leased to generate passive income.
Continuing the mission of building for the Global Filipino, Vista Residences is developing properties that integrate an unparalleled expertise in space planning and a knack for finding accessible and attractive locations. With two decades of experience under its belt, the company is set on changing the skyline with its sustainable, innovative, secure, and future-proof towers rising past the horizon. For more information on Vista Residences, visit www.vistaresidences.com.ph, follow on Facebook, Instagram, and YouTube, or get in touch at (0999) 886 4262 and (0917) 582 5167.
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