Majority of Filipino Expats Eager to Return Home Within Five Years

A recent survey conducted by global recruitment specialist Robert Walters has revealed that a significant 62 percent of overseas Filipino professionals are actively considering relocating back to the Philippines within the next five years, indicating a notable increase compared to the 54 percent reported in the 2021 survey. The study emphasized that the desire to be closer to family and attend to aging parents serves as the primary motivation behind this decision.

Among the respondents expressing an inclination to return, 56 percent cited the intention to care for their aging parents and support their families as the leading reason for their desire to come back to the Philippines. The survey also highlighted the strong emotional, social, and cultural connection that 44 percent of the participants maintain with their homeland.

However, the study acknowledged that the divergence in compensation and benefits offered locally, coupled with perceived lower living standards, is generating some hesitancy among these professionals in finalizing their decision to relocate back to the Philippines.

The survey results additionally disclosed that the current economic situation holds considerable weight in the decision-making process for 65 percent of overseas Filipino professionals contemplating a return to their home country. Notably, 46 percent of those planning to come back expressed confidence in the Philippines' economic stability, growth prospects, and burgeoning opportunities for entrepreneurial ventures and business initiatives.

Conversely, the survey pointed out that 30 percent of overseas Filipino professionals exhibited no intention of returning, with concerns related to economic factors at the forefront of their decision-making process. An overwhelming 80 percent of this group perceived greater economic stability overseas, citing more favorable salary-to-cost-of-living ratios and robust government incentives provided in foreign countries as significant contributing factors to their decision.

Moreover, the survey shed light on the persistent concerns surrounding compensation and living standards in the Philippines, with 75 percent of respondents hesitant to return emphasizing disparities in compensation and benefits as a key issue. A substantial 56 percent of this group highlighted concerns related to public facilities, security, and community resources, contributing to their reservations about returning to the Philippines.

Given the growing number of overseas Filipino professionals considering repatriation, Robert Walters Philippines director Alejandro Perez-Higuero highlighted the invaluable opportunity that this presents for local employers. Perez-Higuero emphasized that these returning professionals possess enhanced technical skills and a more adaptable mindset, honed through their international experiences, making them valuable assets for organizations navigating the evolving business landscape. He underscored the importance for hiring managers to devise creative strategies to secure talent aligned with their organization's requirements.

Furthermore, Robert Walters introduced its Balik Bayan program, designed to facilitate the identification and recruitment of returning Filipino professionals, aiming to bridge the gap between skilled talent and local business needs. The program seeks to streamline the recruitment process, ensuring a seamless transition for returning professionals seeking suitable job opportunities in the Philippines.