Emergic: Rajesh Jain's Blog

Emergic: Rajesh Jain's Blog header image 2

People Exports

May 17th, 2002 · No Comments

One Nation, Overseas: An article in Wired on the export of people by Philippines.

Having discovered its prowess as an outsourcer of labor, the Philippines is now pursuing the opportunity with fervor. Whereas the US has spent decades bemoaning the export of its jobs (to Mexico, to China), the Philippine government revels in the export of its people. Using technology to stay involved in family life back home, Filipino global commuters constitute one of the biggest sources of stability for the economy of a country perennially known as the Sick Man of Asia. Remittances, the money they electronically send back to their families, account for 8.2 percent of the nation’s gross national product, stabilizing its peso, improving foreign currency reserves, shoring up consumption, and making more than a dent in the unemployment rate (now 11.1 percent). Last year, overseas Filipino workers sent home $6.2 billion. Indians sent home twice the amount – with 13 times the general population.

Note the last two statements above (emphasis mine).

India’s model seems to be to focus on becoming the back-office to the world.

Tags: Emerging Markets

0 responses so far ↓

  • There are no comments yet...Kick things off by filling out the form below.

Leave a Comment