Crude oil price hits Filipino OFW’s in the Middle East (2/12/2016)

ABS-CBN: 750,000 OFWs may be affected secondary to ongoing low oil price.

GMA-News/iMoney: Saudi Arabia remittances accounted for 112.78 Billion Pesos (~$2 Billion USD) and ranks second most for Philippine remittances.

CNBC: Middle East Filipino remittances made up 22% of total OFW remittances in the Philippines.

Worldbank: Total Philippine remittances accounted for 10% of Philippines’ GDP. Ranked 21st worldwide.

References
https://www.youtube.com/watch?v=jEuf7LEY0jg
http://www.gmanetwork.com/…/infographic-where-26-92b-of-ofw…
http://www.bloomberg.com/quote/CO1:COM

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