Stricter American immigration policies under President Donald Trump could negatively impact key Philippine sectors, including remittances from overseas Filipino workers (OFWs) and the business process outsourcing (BPO) industry. Michael McCullough, chairman of real estate company KMC Savills, warns of potential economic instability if remittances decline, affecting domestic consumption, real estate investments, and overall stability. Trump's 'America First' approach, which prioritizes reshoring American jobs and reducing reliance on foreign labor, could also impact the BPO industry heavily reliant on US clients. The report also explores potential implications for the Philippines's defense budget and territorial claims in the West Philippine Sea.
STRICTER American immigration policies under US President Donald Trump could threaten key sectors in the Philippines, including the remittances of overseas Filipino workers and the business process outsourcing industry.
Data from KMC Savills revealed that OFW remittances grew from about $27 billion in 2016 to nearly $35 billion in 2024, although a dip to $29 billion occurred in 2020 during the Covid-19 pandemic. The sector, which is heavily dependent on foreign clients, particularly from the US, recorded $38 billion in revenue in 2024, up from $35.5 billion in 2023, according to the Information Technology and Business Process Association of the Philippines on January 16.
IMMIGRATION PHILIPPINES ECONOMY BUSINESS PROCESS OUTSOURCING US-CHINA RELATIONS
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