Bangko Sentral ng Pilipinas, the Philippines' central bank, said that the total remittances of overseas Filipino workers last year was PHP1.51 trillion, or US$28.06 billion. Photo: iStock
The Philippines ranks among the lowest in Southeast Asia in nearly all financial inclusion indicators. Photo: iStock

Female overseas Filipino workers send more money home for their children’s education than male Filipino workers, a study conducted by a digital money transfer company has found.

The study, conducted by WorldRemit, a company based in the United Kingdom, said that 92% of Filipino women consider their children’s education as the most important reason for sending money home, the Manila Times reported.

A total of 72% of women were more likely to provide financial aid to those outside their immediate family. According to WorldRemit, Filipino women send on average 2% more in remittances than men.

The study was conducted on 1,000 Filipino respondents who are customers of WorldRemit.

According to Bangko Sentral ng Pilipinas, the Philippines’ central bank, total remittances from overseas Filipino workers last year increased by 4.3%, from PHP1.42 trillion in 2016 to PHP1.51 trillion (US$28.06 billion) last year.