Overseas Filipinos as Entrepreneurs

The multiplier effect of the exchange rate potentially creates a lie in which the Overseas Filipino Worker (OFW) slips into a false security that as long as he is earning in foreign currency, it’s perfectly alright — he will have a greater spending power in the Philippines. This fallacy, however, is sustained only if the OFW could go on working for years. There should be a shift in mentality — OFWs must not rely merely on the favorable exchange rate. The OFWs must become entrepreneurs, but this comes with a warning that swindlers are targeting OFWs precisely because of their spending power. Please continue reading here.