Against all the odds and after years of being identified as the region's basket case, the Philippines is one of two countries escape negative growth from the global financial crisis in 2009. In the Philippines' case, much of its positive growth is built on the shoulders of its overseas workers, particularly those in the Middle East – at a time when the Middle East itself faces a cumulative 5.1 percent fall in gross domestic product, according to the International Labor Organization's 2009 Global Employment Trends Report, which estimates that the region's gross domestic product growth will fall to 5.1 percent year-on-year from estimated 2008 growth of 6 percent.
Overseas Workers' Uncertain Future
Overseas Workers' Uncertain Future
Overseas Workers' Uncertain Future
Against all the odds and after years of being identified as the region's basket case, the Philippines is one of two countries escape negative growth from the global financial crisis in 2009. In the Philippines' case, much of its positive growth is built on the shoulders of its overseas workers, particularly those in the Middle East – at a time when the Middle East itself faces a cumulative 5.1 percent fall in gross domestic product, according to the International Labor Organization's 2009 Global Employment Trends Report, which estimates that the region's gross domestic product growth will fall to 5.1 percent year-on-year from estimated 2008 growth of 6 percent.