The Philippines is one of the least developed countries in Asia and belongs to the third world countries. In 2009, 26.5% of the total population lived below the poverty line. Those living below the poverty line are unable to meet their basic needs such as food, clothing and shelter for daily survival. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay What does it mean to be a third world country? The Philippines, as a third world country, experiences various problems such as corruption, unemployment, and crime, which hinder its development and further worsen the current situation. Its people suffer from different aspects of life, especially financial problems that push Filipinos to look for money to support their needs but due to fewer opportunities offered in their own country, they go abroad to work and find work for the their family here in the Philippines and called them Overseas Filipino Workers (OFWs). An overseas Filipino is a person of Filipino descent living outside the Philippines. This term applies to Filipinos who are abroad indefinitely as citizens or permanent residents of a different country, and to those Filipino citizens abroad for a limited and defined period, such as on an employment contract or as a student. It may also include sailors and other persons who work outside the Philippines but are not residents, either permanent or temporary, of another country. As a result of this migration, many countries have sizeable Filipino communities. In 2013, the Commission on Filipinos Abroad estimated that approximately 10.2 million Filipinos worked or resided abroad. In the 2010 census year, approximately 9.3% of Filipinos worked or resided abroad. Filipinos can be found in every part of the world. They are serving the country they live in and the country their savings come from because of their hard work, but does that mean they have forgotten where they came from? And they do nothing to help their country because they are far away? Overseas Filipino workers can be considered one of our modern heroes. Both help their family and country through remittances. Remittance is a transfer of money from a foreign worker to an individual in his or her home country. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances represent a significant part of international capital flows, especially for labor-exporting countries. “Remittances remain a particularly important and stable source of private flows to developing countries, as they bring in large amounts of foreign exchange that help support the balance of payments in every country like the Philippines,” said Dilip Ratha , Chief Economist of Migration and Remittances at the World Bank's Development Prospects Group and Head of the Global Knowledge Partnership on Migration and Development (KNOMAD) Get a custom paper now from our expert writers was made for discuss, provide light and clarification associated with the impact of OFW remittances on the Philippine economy, the different positive and negative effects we can get. Understand how the government supports our OFWs and where their remittances are used in our country important for every citizen of the Philippines to know who the OFWs are in the field of economics and for our modern heroes, the OFWs.