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Philippines: What a Fish Farm Can Teach Us About Migration

Graham Watson

15th July 2023

This brilliant World Bank clip looks at the importance of outward migration for developing economies, such as the Philippines.

In the short-term, Angelito Castro's remittances contributed to development. In the longer-term, his skills, experiences and the connections he made abroad have helped him grow his fish farm, and dramatically improve their living standards.

It's a great clip!

Background

Remittances are a major source of foreign exchange for the Philippines: In 2021, remittances to the Philippines reached $34.8 billion, which was equivalent to 10% of the country's GDP. This makes remittances the largest source of foreign exchange for the Philippines, ahead of exports and foreign direct investment.

The average remittance is around $200 per month: This means that remittances help to sustain millions of families in the Philippines.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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