Beyond remittances: PIDS study urges comprehensive policies to support returning OFWs
MALAYBALAY CITY (PIA)--While remittances from Overseas Filipino Workers (OFWs) have become a vital lifeline for the Philippine economy, a new study by the Philippine Institute for Development Studies (PIDS) urges policymakers to look beyond remittances and address the complex social and emotional implications of labor migration. Titled “Long-Term Effects of Labor Migration in the Philippines: ‘Napakasakit, Kuya Eddie!’” by PIDS Senior Research Fellows Jose Ramon G. Albert, Aubrey D. Tabuga, and co-authors, the study acknowledges the vital role OFWs play in the Philippine economy, with their remittances accounting for nearly 10 percent of GDP. However, the study revealed that family fragmentation emerges as a stark consequence, with cross-border ties becoming complex and emotionally strained. This vulnerability is further amplified by the lack of systemic financial literacy support available to young OFWs dreaming of early retirement. “Promoting financial literacy initiatives t