OFW remittances face a slowdown as global uncertainties grow

Floyd Brenz., Philippine Canadian Inquirer
August 19, 2026

Photo Courtesy: Department of Migrant Workers

MANILA, Philippines — Money sent home by overseas Filipino workers may be losing momentum, raising concerns over the future growth of one of the Philippines’ key sources of foreign exchange.

Experts said remittances are expected to continue growing this year, but at a slower pace compared with 2025 as economic uncertainty and geopolitical tensions weigh on overseas workers and their host countries.

Maybank projects cash remittances to increase by 2.8% to $36.5 billion this year, down from 3.3% growth in 2025. The Bangko Sentral ng Pilipinas has a slightly higher forecast of 3% growth to $36.7 billion.

The slowdown could have wider implications for Filipino families who rely on money from relatives working abroad to cover daily expenses, education, housing and other needs.

Uncertainty in key destinations for Filipino workers, particularly in the Middle East, could further affect employment and income as geopolitical tensions continue.

Despite these challenges, experts said demand for Filipino workers abroad remains a source of support for remittance flows.

But as growth begins to flatten, the figures point to a growing challenge: Can the Philippines continue relying on billions of dollars sent home by its workers abroad as global economic conditions become increasingly uncertain?

For millions of Filipino households, the answer could have a direct impact on their financial security.