...the Canada's Top Country for New Immigrants 2014

Philippines Was Top Source Country For New Immigrants To Canada In 2014

CIC News

May 19, 2015

More than 40,000 Filipinos became permanent residents of Canada in 2014, making the Philippines the top source country for Canadian immigration last year. The Philippines had previously been the top source country in 2012, with China having been the top source country in 2013.

Canada also issued nearly 47,000 visitor visas to Filipinos in 2014, a 56 percent increase since 2006.

The number of new permanent residents from the Philippines is up from 14,004 in 2004, a near three-fold increase in just one decade. Many of the Filipino newcomers originally came to Canada under the Live-In Caregiver Program, now simply the Caregiver Program after modifications made last November. The government of Canada’s immigration plan for 2015 states that it aims to convert between 26,000 and 30,000 caregivers to permanent resident status this year.

In just a few short decades, Canada’s Filipino community has grown to become one of the country’s largest immigrant demographics. The more than 700,000 people of Filipino descent in Canada make up one of the country’s larger diaspora communities, and this number is increasing constantly.

Filipino workers in Canada are important to both the Canadian and Philippine economies. While workers in Canada help to fill important labour shortages, families and friends in the Philippines benefit from remittances sent from Canada.

About half of Canada’s Filipino population lives in the Greater Toronto Area (GTA), with Vancouver hosting the second-largest Filipino population in Canada and Winnipeg also home to a large number of Filipinos.

“Oftentimes, individuals will first come to Canada as temporary workers, leaving spouses and children behind. But many Filipinos have also worked hard to bring their immediate families to Canada. Once permanent residence is achieved, they are then able to reunite with their families in Canada,” says Attorney David Cohen.

“Canada’s generous family sponsorship rules allow permanent residents to sponsor not only children and spouses, but parents and grandparents as well. These include the popular Parent and Grandparent Sponsorship Program as well as the new Super Visa Program, which offers long-term visitor visas to qualified applicants. The introduction of these family reunification programs has contributed to the upsurge in new arrivals from the Philippines.

“Within the broader Filipino community in Canada, we have observed success after success of smaller communities that have flourished across the country. The story of Filipino immigration to Canada is a story shared between a proud people and a welcoming land.”

...the PH economic growth

Philippines growth racing ahead of neighbors

By Rachel Rosenthal
Wall Street Journal
18 May 2015



The Philippines' economy is shedding its reputation as a laggard and outpacing others in the region - with the fastest growth rate among major economies in East Asia after China.

The country notched growth last year of just over 6%, and the central bank targets growth of 7% to 8% in 2015. That compared with 0.9% in Thailand and 5% in Indonesia in 2014.

For years, the Philippines was viewed as a sluggish economy marred with graft and bureaucratic inefficiencies.

President Benigno Aquino III, who came to power five years ago, has launched an anticorruption drive and has focused on public spending to help lift growth.

The government is planning to spend $13 billion on infrastructure this year, up from $2.8 billion in 2010, and has earmarked $18 billion for 2016. All for that year, the government has approved six major projects with a price tag of just under $8 billion, including a 400-mile rail connecting the capital of Manila to the southern province of Albay.

The Philippines has other advantages. It has a growing working-age population that speaks English, with more than 60% of the population between the age of 15 and 64. There's a large overseas workforce that sends huge amount of money home each month. and unlike many credit-addicted economies in the region, household debt levels are among the lowest in Asia.

It's going to be one of those countries that 's likely going to grow just because they're getting a few things right, and those few things are actually quite important," says HSBC economist Trinh Nguyen referring to the Philippines' low debt levels, improving governance and demographics.

"Relative to anyone, I think they have a good story."

All of this has helped to stoke demand, especially as inflation remains benign because of cheap oil prices. Last year, private consumption generated more than 60% of growth in gross domestic product, driven by a 5.4% bump in consumer spending and a 2.8% rise in employment.

Remittances , which make up about 10% of GDP, are crucial. Low wages at home have pushed many Filipinos to look abroad for work.

Remittances have been growing at about 7% annually since 2009, writes ING. data released last week showed remittances in march rose 11% on year to $1.2 billion, the fastest pace in six years.

There are risks to the Philippines' outlook. Exports contracted in the first quarter because of weak demand and a relatively strong Philippine peso. the currency has gained more than 7% against the euro this year, which lead to slimmer remittances in January and February.

Slowing remittances are the central bank's "biggest concern,"Ms. Nguyen wrote in a research note.
About 15% of the Philippines remittances originated from the eurozone in 2014, according to Barclays.

Another risk is the country's dependence on foreign investment in stocks and bonds, which can quickly yanked out of the country if the U.S. raises interests later this year. that could force the Philippines to follow suit, stunting growth.

Portfolio flows for 2014 were $2.5 billion compared with just $800 million of direct investment which is harder to pull out, according to data from Barclays