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Xpress Money sees OFWs in Europe ushering in steady remittances

March, 2014: Every year, the deployment rate of overseas Filipino workers (OFWs) continues to increase, reflecting the continued demand for Filipino manpower as more job opportunities open up in foreign labor markets.

Job opportunities are widely available in Asian and Middle Eastern countries, making them top destinations for OFWs and in turn, the largest remittance contributors. However, for international money transfer brand Xpress Money, there is an emerging market which can also provide a substantial amount of remittances –Europe, which is currently home to about 8.7 percent of OFWs.

“Xpress Money sees potential in Europe as a major contributor of remittances in the coming years,” said Xpress Money Country Manager for the Philippines Eduardo Cobangbang. “It is home to more than 700,000 overseas Filipinos and this number is expected to rise with the increasing demand for skilled and professional workers in the continent.”

Filipinos employed in Europe mostly work in the service, hospitality, and health care sectors, but more vacancies in the health, information and communications technology (ICT), engineering, sales and finance sectors have opened up.

Mr. Nirav Parekh, Regional Vice President of Xpress Money for Europe added “The education and training Filipinos have from universities and technical training facilities, combined with their remarkable skills and time-tested work ethics makes them qualified for job opportunities in Europe.”

Recently, 10 European countries made it in the Top 20 Competitive Economies ranking. These countries, which are seen to consistently progress, are already home to more than 395,000 Filipinos. “We encourage Filipinos who want to work abroad to explore job opportunities in Europe, aside from the usually preferred Middle Eastern and Asian countries,” Mr. Parekh said.

Xpress Money believes that the optimistic labor forecast in Europe, coupled with emerging economies in 2014 will provide stable income for OFWs which will positively affect the steady flow of remittances.

Xpress Money ensures customers that it will continue to strengthen connections between OFWs and their families through fast, safe and convenient money transfer services. “The value of remittances sent to the Philippines is not only measured through the amount, but also by the perseverance and dedication that Filipinos invest in their work. That is why we strive to serve them in the safest and fastest way possible, so that OFWs will always feel closer to home,” added Eduardo Cobangbang.

Xpress Money has 6,567 agent locations and branches in 21 countries all over Europe. It caters to overseas Filipinos sending remittances to the Philippines by cash pick-up, door service and account credit.

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About Xpress Money

Xpress Money is a global money transfer brand with a thriving presence in more than 150 countries in 5 continents across 170,000 agent locations. Working towards the goal of Bringing Home Closer to millions of migrants residing away from their homes, Xpress Money has come to be known as the most dependable international money transfer brand. Xpress Money provides its customers a simple, fast & safe way to transfer money through innovative technology, superior customer service and its extensive worldwide network. For more information, visit www.xpressmoney.com.

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