Friday, 14 December 2012

Philippines Peso Gaining as Overseas Workers Top Mexicans: Jobs

Karl Lester M Yap

Government projects in the Middle East, spurred by the Arab Spring and the global financial crisis, are drawing Filipino engineers, nannies and office workers. The rise may propel the Southeast Asian nation ahead of Mexico this year to become the world’s No. 3 in remittances, behind India and China. The funds account for about 10 percent of the Philippine economy.