Investments and savings from the remittances of overeseas Filipino workers in in selected cities of Cavite / by Keerstine Cielo A. Casas.

Thesis (Bachelor of Science in Economics Major in Development Economics) Cavite State University.

Includes bibliographical references.

College of Economics, Management and Development Studies (CEMDS), Department of Economics

CASAS, KEERSTINE CIELO A. and MABAIT, ANJELLA GRACE C. Investments and Savings from the Remittances of Overseas Filipino Workers in Selected Cities of Cavite. Undergraduate Thesis. Bachelor of Science in Economics major in Development Economics major in Development Economics. Cavite State University-Indang, Cavite. June 2018 Adviser: Ms. Maria Soledad M. Lising.

A study on the investments and savings from the remittances of the overseas Filipino workers in selected cities of Cavite. Specifically, it aims to describe the socio-demographic profile of OFWs, income and expenditure of the OFWs and members of household which also includes other sources of income, savings and investments of the OFWs households from their remittances, type of investments or savings availed by the households of OFWs, constraints encountered while investing and saving their remittances, and the relationship of socio-demographic profile of OFWs to their saving and investment decisions.

The study was conducted in five selected cities in Cavite namely Bacoor, Dasmaririas, General Trias, Imus, and Trece Martires. A total of 203 respondents were included in the study. Data gathered were obtained through the use of questionnaire and personal interview with the participants and through secondary data which provided the other information needed by the researchers from January to May 2018. Data were analyzed using frequency counts, ranges, means, percentages, rankings, distribution tables and charts. On the other hand, in order to determine the relationship between the OFWs' socio-demographic characteristics and investment and saving decision, the researchers used Chi square test.

The results revealed that majority of the OFWs were Female, married, and obtained college degrees and mean age and number of years working abroad of the OFWs was 40.58 and 6.61, respectively. Almost half of the OFWs' work destination was in Middles Fast with 47 percent. Fifty percent of the total OFW participants were engaged in service related jobs such as household service workers which was the major reason why there were more female participants than male, cooks, factory workers, construction workers and all other service related jobs alike.

When it comes to the general household information, results show that the mean household size of OFWs was 3.7, single family was the major type of household, and majority of the participants owned their housing unit and lot with 85 percent.

Monthly income from remittances ranged from Php 10,000 to Php 200,000. More than half of the participants were under the range bracket of Php 10,000 to Php 49,999 with 83 percent and the mean remittance was Php 35,660. When it comes to other sources of income, waged work or employed household member was the top source of income out of five other sources of the households other than remittance with 68 percent and followed by business with 16 percent. The earnings from these other sources were ranged from Php 2,000 to Php 157,000 and majority of the households with other source of income were under the range bracket of Php 2,000 to Php 26,666 with 92 percent.

With regards to the households' monthly expenditures, results show that monthly food consumption, education, and bills specifically water bill, electric bill, and internet bill were the top expenses that the income of the household were mostly distributed. Fifty-four participants were giving monthly support to other extended families/relatives or scholars ranging from Php 2,000 to Php 15,000 with the mean of Php 4,814.81.

Thirty-one percent of the participants have investment. Their initial investments ranged from Php 2,000 to Php 70,000 with the mean of Php 8,790. Majority of the participants invested in business with 40 percent tbllowed by investment Funds with 39 percent. Half of the participants' purposes of investing were for additional income followed by retirement then for emergency expense. Only one out of 62 considered their investment in a short-term basis. Meanwhile, 113 of the participants have initial savings ranging from Php 2,000 to Php 30,000 with mean of Php 7,628.32 under basic savings account and only one saves under certificate of deposits all in a long-term basis. Majority of them considered saving for emergency purposes followed by for additional source of income.

Socio-demographic characteristics such as age, sex, nature of work, and work destination had a significant relationship with the investment decision of the OFWs. Meanwhile, age, educational attainment, nature of work, work destination, and number of years saving had a significant relationship with the saving decision of the OFWs.

Occurrence of emergency was the top constraint/problem encountered by the OFWs and their families while investing and saving their money followed by financial problem, then paying off debts, then lastly family problem.

Submitted to the University Library March 13, 2019 T-7815