We know that OFWs are the Bagong Bayani because they help in making our economy stronger by sending their money to the Philippiness. And over the years, the billions of dollars that were remitted resulted to a stronger peso against the dollars; USD1000 two years ago is valued at Php43,000, now, the same amount in USD is only 40,000.
The 3000 difference is a big amount of money for an ordinary family. There are interviews on TV, where some families thought of cutting their expense to fit whatever is sent to them. This is good but of course it is not sustainable and as experts have predicted, the peso will continue to get stronger.
The question now is this, how can an OFW family get back the lost peso? One way is if the OFW asks for a salary increases. The other way is, if the OFW family starts a business.
Here is a suggestion:
There are endless possibilities of business ideas out there from Load business to sari-sari store but why not ask the OFW to sell Filipino products abroad to his co-workers? This way, two birds are hit with one stone; Filipino products are advertised abroad and so help is given to the local industry and at the same time the profit will regain the lost peso.
What you can do:
- Ask your relative abroad what local products he can sell abroad.
- Go to the nearest courier and ask for their rates to send product abroad.
- Scout the products and find out the costs.
- Send the package out.
Hopefully, at the end of the month you will get the lost peso and even more.
Let us start exporting Filipino products and not Filipinos.