Filipinos From These Nations Send More Money For Valentine’s Day

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Filipinos From These Nations Send More Money For Valentine’s Day

The recent news shows that For Filipinos from these overseas countries send to their relatives in their motherland $12.5 to $32.5 more than usual for Valentine's Day.

Filipinos living and working in Germany are the most generous lovers in Philippians sending the highest amount of money during this Valentine period. This is according to the February 13report released by World Remit, a top money transfer service.

According to their data, Filipinos living and working in Germany sendapproximatelyP1,623.21 ($32.5) more than usual to their partners for Valentine’s Day.

Filipinos working and living in Norway follows. For them, they send approximately P1,198.68 ($24)higher than usual. Those who live and work in New Zeeland were ranked third in sending money during this Valentine’s Day. The report indicates that they sent P624.31 ($12.5) more.

The global data was based on WorldRemit’s top 10 recipient countries internal analysis in February 2016. It was specifically before, on, or even after Valentine’s Day period.

"Analysing this year’s data, Filipinos living and working in Norway, New Zealand and Germany are planning ahead and remitting more money to their lovers in the days ahead of Valentine’s Day,” WorldRemit’s director of Mobile Partnerships Alix Murphy said.

With millions of Philippines who work in Filipino workers worldwide, billions of dollars are provided by the national coffers.

Bangko Sentral ng Pilipinas’ Data show that cash transfers or the transfers through banks overseas Filipinos worldwide attained $24 billion more from the month of January to that of November 2016.

Germany provided 642 million dollars of this money. For the transfer of money from Filipinos who live and work in Norway approached nearly 170 million dollars while those from Norway attained a total of 111 million dollars in the same time.

Meanwhile, overseas Filipinos’ personal transfers approached almost a total of 27 billion dollars from the month of January to that of November last year. Personal remittances represent the total sum of employees’ net compensation.

WorldRemit is one of the leading money transfer service available to people in more than 50 countries. This company provides more than destinations across the United States, Europe, Australia, Africa, and the Asian.

In other News

Billions of dollars are transferred from the United States to other parts of the world but a new study published on indicates that only 20 percent of American citizens feel happy with their money transfer providers. Most of these people say that they feel ripped off by these money transfer providers.

Based on the World Bank’s total remittance inflows and outflows from 2010 to 2015, found that around $139 billion was transferred out of the United States in 2016 alone and a projected 145.56 billion will be transferred out of the country in 2017.

The survey, which was commissioned by but carried out by global research provider, involved the interviewing of 2,005 American adults. The study found that an estimated 80 percent of these people felt ripped off by their money transfer providers. 25% of the respondents revealed that they normally do nothing about it and calls in the same money transfer provider whenever they are in need.

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