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Overseas Filipino Worker ( OFW) is a term often used to refer to Filipino migrant workers, people with Filipino citizenship who reside in another country for a limited period of employment. [3] The number of these workers was roughly 1.77 million between April and September 2020. Of these, female workers comprised a larger portion, making up 59 ...
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .
COVID-19 pandemic. Both the national government and local governments have responded to the COVID-19 pandemic in the Philippines with various declarations of emergency, closure of schools and public meeting places, lockdowns, and other restrictions intended to slow the spread of the virus.
The richest 10 percent, meanwhile, took a larger share of the income at 41.7 percent in 1980, up from 37.1 percent in 1970. [61] According to the FIES (Family Income and Expenditure Survey) conducted from 1965 to 1985, poverty incidence in the Philippines rose from 41 percent in 1965 to 58.9 percent in 1985.
Poverty Incidence of Ormoc 5 10 15 20 25 30 2006 25.50 2009 28.34 2012 25.69 2015 29.36 2018 22.12 2021 25.51 Source: Philippine Statistics Authority Ormoc's economic base is a mix of agriculture, aquaculture, industry, tourism, and commercial services. Sugar cane, rice and pineapple are the major agricultural production. The city enjoys economic growth because it supplies a large part of the ...
As of 2022, 5.23 million Filipinos were employed in the tourism industry and as of September 2023, the Philippines generated ₱316.9 billion ($5.5 billion) in revenue from tourists, coming mostly from South Korea, the United States and Japan. [6]