Philippines' remittances from overseas workers spike by 8.5%

Monthly average soars to 5.8%.

According to DBS, remittances have continued to push higher despite considerable economic uncertainties over the past few quarters. The latest data point indicated that remittances grew by 8.5% YoY in October, taking the year-to-date monthly average to 5.8%.

Remittance from Asia was the outperformer, registering average growth of 13%, while Europe remains a laggard, with growth of just 0.5%. However, with the
worst of the Eurozone crisis likely subsiding, a continued recovery in remittance from the area is likely in the coming quarters.

Here's more from DBS:

In fact, remittance from Europe has already bottomed in level terms. Moreover a cyclical recovery for China appears to be underway and this should also help prop up remittance growth from Asia. As such, remittance growth of high single digit (8-9%), up from a projected 5.6% in 2012, is likely this year.

Notably, even when we account for remittance inflows in peso terms (to take into account the effect of domestic spending power), growth has been significant. For
November, remittance growth of 6.0% YoY has been penciled into our forecast.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia