Once again, the unsung OFWs contributed some $23 billion in foreign exchange remittances to the Philippine economy in 2011, boosting our international reserves, filling our banks with savings, stimulating the housing market, investing in human capital through the education of their children and contributing significantly to a consumption-led growth as investments grew very slowly in the public sector. We cannot thank them enough for the sacrifices they are making for their respective families and for the entire nation.
The historical trends, empirical findings, and policy updates are discussed in detail in the essays compiled in this book. The most convincing argument that supports the thesis of the book, i.e. that population growth is a poitive factor in attaining sustainable human development, is found in the foreword to the book, which is adopted from an article written by Mr. Roberto de Ocampo, former Finance Secretary of the Philippines and multi-awarded finance official in Asia. Thanks to the continuing growth of the Philippines population, Filipinos are in more than 100 countries all over the world, contributing much-needed foreign echange and purchasing power to the Philippine economy and fostering the human and spiritual development of the most diverse of peoples and cultures on this planet.
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