Annual Land Based Overseas Filipino Workers Remittances From Hongkong And Singapore For The Years 1989 To 2010

1681 words - 7 pages

The number of Filipinos going abroad to work has increased dramatically overtime. Nowadays, these overseas Filipino workers are deemed to be the country’s new heroes because of their unconditional love and sacrifice for their families. In the economic aspect, these workers bring annual remittances in the country which is mostly spent in household consumption. In the macroeconomic level, according to Dr. Cayetano Paderanga (2010), “the most visible effect of remittances is in the peso appreciation and the rise in investor confidence on RP’s ability to pay its debt.”
In this study, annual remittances from 1989 to 2010 of two Asian countries, Singapore and Hongkong, are used (Table 1). The Asian region is chosen because of its booming economy. Moreover, it is to encourage Filipinos to work closer to home so that they may able to spend more time with their families. Singapore and Hongkong are because of their proximity to the country and more importantly, strong economic positions. Also, these two countries are hailed as top OFW destinations in 2009 by the Philippine Overseas Employment Office (POEA); Hongkong placed third while Singapore placed sixth (Ruiz, 2010). Current trends also show that the population of Filipino workers in these countries has augmented (POEA, 2010). Descriptive statistics and inferential statistics is used to analyze and investigate the given data. The data is from the Bangko Sentral ng Pilipinas.

Table 1. Annual OFW Remittances, Land-based
II. Descriptive Statistics
Through the use of Megastat, the characteristics of the annual land-based remittances from Singapore and Hongkong are obtained and as follows:

Table 2. Descriptive Statistics
Data from both countries covered 22 years from 1989 to 2010. The mean which is the average of the annual remittances from Singapore is 164,170.32 while from Hongkong is 196,144.59. Disparities from the mean are presented in the variance and standard deviation. Variance is “the arithmetic mean of the squared deviations from the mean” while the standard deviation is “the square root of the variance” (Lind, Marchal & Wathen, 2010, p.76). The sample variance of Singapore is 24,926,716,265.66 and the standard deviation is 157.881.97. In Hongkong, the sample variance is 14,511,209,146.16 and its square root is 120,462.48. Based on the standard deviation, the distance of the observations from the average is 157,881.97 for Singapore and 120,462.48 for Hongkong. The high standard deviation implies wide dispersion of the annual remittances. Singapore had the highest remittances in 2010 which amounted to 544,389 while it had its lowest in 1991 which was 7,592. Hongkong had 382,401 as the highest remittance which was 2006 and 10,250 as the lowest in 1989. Subtract the minimum value from the maximum value results to the range of the data. The range from for Singapore is 536,797 while for Hongkong is 372,151. Singapore had a higher range than Hongkong due to its higher maximum annual...

Find Another Essay On Annual Land-based Overseas Filipino Workers Remittances from Hongkong and Singapore for the years 1989 to 2010

The comparison of policies to attract foreign talents for Singapore and New Zealand.

620 words - 2 pages and 23km from south to north, with a total land area of 649 square km.While New Zealand consists of two islands in the south-west of Pacific, the land area is about 400 times of that of Singapore, which is 270000 square km.PopulationSingapore has a population about 3.6m, consisting of dominant Chinese (76.8%), Malays (13.9%), Indians (7.9%), and other ethnic groups (1.4%).The population in New Zealand is more than 3.7m(source: the New Zealand

Women's Fashions from 1965, 1975, and 1989 in The Heidi Chronicles

4007 words - 16 pages Women's Fashions from 1965, 1975, and 1989 in The Heidi Chronicles The reason I researched this is because I felt it important to know what Heidi would look like. If you had not done background on this topic, then there might be arguments about what each decade looked like. Since I wasn’t around for two of the three eras, people who had been around would instantly be taken out of the play’s world. Also, Heidi was a very happenin

The balance of power mechanism and the system of alliances, had saved Europe from major wars for forty-three years, failed to preserve the peace in 1914.

960 words - 4 pages the result that Germany was hoping for. Six years later, the Moroccans rose against French control. The French sent troops to put down the rebellion. Germany decided to interfere with the French troops attempting to restore piece by sending a gunboat to the Moroccan port of Agadir. (Encarta 95) The French and British were outraged with this German military movement so the British navy prepared for war. However at the last moments, the German

Tetrapods: From Water To Land

1196 words - 5 pages lived in water and probably never left it. According to Kathleen McAuliffe, tetrapods probably lived in the swamps for at least 20 million years, after developing the anatomy, before moving to dry land. To summarize all of the findings stated above we must refer to the most logical explanation of all. Jenny Clarck proposed that fish must have evolved into tetrapods for life underwater. The lagoons were a new ecosystem in the Devonian period

Migration from the Nation-State of Singapore

573 words - 2 pages citizenship and national identity. This has also raised an old issue of why Singaporeans are leaving Singapore for ‘greener pastures’ overseas (Straits Times, 21 August 2002). Most often, the ones who left are deemed as talents who could have contributed to Singapore if they had not ‘quitted’ Singapore (National Day Rally, 2002). This is widely known as a ‘brain drain’, a problem that most migrant-sending countries in Asia currently face. In Singapore

Was the Russian government policy towards the peasants and the workers in Russia from 1801-1905 a major cause for the outbreak of revolution in 1905?

1773 words - 7 pages widespread to make reformist opinion more than ever responsive to the extreme Marxist and anarchist opinions that were infiltrating from the west.On the whole, the Russian government genuinely wanted to emancipate the serfs. Now, we shall turn to see her policy towards the workers in this period.Except for the last decades in the 19th century, the Russian industry remained in a primitive stage. The number of workers was few. So it was not until 1880's

“The Global Economic Situation and Prospects for 2010 and Beyond: Policy Options”.

1725 words - 7 pages "The Global Economic Situation and Prospectsfor 2010 and Beyond: Policy Options".As the world globalize bringing with it new economic, social and cultural dynamics in multifaceted ways for local citizens.Most would agree that globalization is beneficial, but there are also those who feel that it brings threat to national sovereignty and local culture.In most cases globalization provides greater stability and security, its key developments can


3362 words - 13 pages Since 2011, Government of Indonesia launched a new regulation about transferring the authority of collection of Land and Property Acquirement Ownership Fees (BPHTB) and The Urban and Rural Property Tax (PBB-P2) from the Central Government to the Local Government. This policy is the embodiment of the decentralization era since 1999. After long discussion for 10 years, Central Government is now ready to give the authority for the Local Government

Is Globalization Good for Workers? Definitions and Evidence from Latin America

1240 words - 5 pages theory states, globalization should favor the development of economic activities that make intensive use of unskilled labor. This subsequently should increase the demand of labour thus an increase in income distribution in developing countries. A large group of authors writing on the topic expect economic gains from globalization both for enterprises and workers, but alert to several side effects that increase insecurity for workers.11 First

the writing of esl materials for the filipino college freshman

5899 words - 24 pages the current approach to ELT. Implicit in De Quiros' recommendation to use ESL, for example, is the belief that English is a second language to Filipino students and that a different methodology that what has heretofore been implemented has to be applied to them. LANGUAGE TEACHING METHODS Whether articulated or not, language teaching methods are based on beliefs or theories about the nature of language, language teaching and

Hardships of Filipinos and Filipino-Americans in the United States

1532 words - 6 pages 1763 up to 1902, the 2nd wave immigrated within the years 1903 to 1934, the 3rd wave immigrated within the years 1945 to 1965, and the 4th wave immigrated from the year 1965 and are still immigrating until now. The 1st wave of Filipino immigrants (1587/1763-1902) who migrated to the United States were referred to as the “Manilamen”. According to Cordova, these “Manilamen” are Filipinos who jumped from the ship that was used in the Spanish Galleon

Similar Essays

Annual Report For Stewardship Campaign 2010

1471 words - 6 pages congregation … hopefully without alienating too many people. For 2010, it was decided to divide the job into two major and different functions from the beginning. One was the nuts-and-bolts of administration and oversight, record-keeping and reporting, recruiting and training volunteers (whom we decided to call Stewards), and other support and action functions. Alan Kolbe signed on for this part of the job. The second area involved the creative aspects

The Struggle For Land In Vietnam The Vietnamese People Had Successfully Fought For Their Land For Over 2000 Years. America Was No Different From The Others That Were Defeated.

2835 words - 11 pages for the gain of profit. "Its coming led to the disappearance of the landlords, and peasants were urged to seize the land they had tilled for others"(Gettleman 142). For about eight years during the war against the French, the Viet Minh brought fear to those who had exploited the peasants. Landlords, who had made money off the hard labor of others fled the country, and were not able to collect taxes from the people anymore. Effective rent reduction

'economic Risk Has Shifted From The Government And Corporations To Workers And Their Families.'

1250 words - 5 pages the job market and the balancing of work and family--the responsibility for economic risk has shifted from the government and corporations to workers and their families.Some of this shift has been deliberate. Witness the steady cutbacks in workplace health insurance, and corporations' movements away from offering traditional guaranteed pensions in favor of offering "defined-contribution plans" that place the investment risk on workers. Yet a

The Usefulness And Limitations Of The Corporate Annual Report, Illustrating Your Answer By Reference To One Company's Most Recent 'annual Report' And 'annual Review' Documents.

1463 words - 6 pages all information from previous years and potential shareholders.Another particular aspect on the Corporate annual report that I consider to be useful is the annual review that is provided in which gives a summary of all financial information to its shareholders (in appendix for Woolworths Group Plc). It provides a summary of the financial performance and of the operational highlights as with other summaries of the financial statements.But its needs