2017: What is in Store for Filipinos in Britain

<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody> <tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjS3W5JetB_SGKYjYZSSelw3wy_KjVgzhITtynbu9qy9ZCZSaQg3gruqt25dXJF5Y7esOfBbWKrl3NvUnH2Vxp4eb-guqRh22UCbnBq2So36cSv6a-2FplvyWmIUk9YJZ8Hw54OJHBv_rJw/s1600/uk-filipino-bristol.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjS3W5JetB_SGKYjYZSSelw3wy_KjVgzhITtynbu9qy9ZCZSaQg3gruqt25dXJF5Y7esOfBbWKrl3NvUnH2Vxp4eb-guqRh22UCbnBq2So36cSv6a-2FplvyWmIUk9YJZ8Hw54OJHBv_rJw/s400/uk-filipino-bristol.jpg" width="400" /></a></td></tr> <tr><td class="tr-caption" style="text-align: center;">Filipinos in Bristol</td></tr> </tbody></table> <div style="text-align: justify;"> <span style="font-size: large;">2016 is about to end. There are Filipinos who work and reside in the UK and with the Brexit vote last May 2016, this 2017 may seem to be a year of uncertainty in many aspects. It was an unexpected vote and it turned medium and long term plans awry for Filipinos who reside there.</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">& months have passed and the whole world was witness to the largest companies lost more than US$200 billion in a matter of days.</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">While they wait for Article 50 to be finalized with uncertainty, Filipinos here and in the UK wait with bated breathe on what 2017 holds.</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">Here are several indicators that are crucial:</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">Remittances</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">In 2005, the Peso – Sterling Pound Exchange Rate was Php100 = 1 Sterling Pound. The devaluation impacted immediately and after a day the Sterling Pound lost 10% of its value. It is forecasted that a £500 remittance will now be lower by approximately PHP 4,000. This will translate to around PHP 50,000 over 12 months (assuming exchange rates stay at the current rates).</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">There are 300,000 Filipinos in the UK and the loss of the value of remittances will tell on consumer spending of their dependents here in the Philippines. </span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">Cost of vacations</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">As with remittances, the cost of vacations by UK based Filipinos would tend to be more expensive for them. A $3,000 trip across the Atlantic to New York will now set them back by almost £300 more. But those planning on visiting Jolly Old England can do it cheaper than before. </span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">Interest rates</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">As anticipated by many, the Bank of England has further reduced the base rates to 0.25% (from the previous 0.5%, which has been the standing rate since March 2009). While the continuing low interest environment is great for keeping the monthly mortgage payments low for homeowners, it may still be worth exploring the market for even better deals. The losers from this, as we know, are the savers and the pensioners.</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">Immigration</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">One critical component of Brexit is that of immigration policy. But there are factors such as the points system would favor Filipinos of professional qualifications. But this can also be counteracted by more points being given to EU national.</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">Economy</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">GDP slowdown is expected but not worse than during the 2008 crisis. This will also affect jobs generation since investor confidence on new businesses and expansion will be greatly affected. </span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">Onwards and upwards</span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">2017 is still filled with hopeful signs and indicators though. Large corporate transactions are still taking place and others in the pipeline. London launched the #LondonIsOpen social media campaign wherein London is depicted as a city filled with opportunities for investors and visitors. </span></div> <div style="text-align: justify;"> <span style="font-size: large;"><br /></span></div> <div style="text-align: justify;"> <span style="font-size: large;">The Trump victory is still a factor to be fully analyzed and assessed.</span></div> <div style="text-align: justify;"> <br /></div> <br /> <br /> <br /> <br /> <div class="separator" style="clear: both; text-align: center;"> <a href="http://www.blogger.com/share-post.g?blogID=3629012486930784822&postID= 4968595552378729448&target=facebook" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8VZfdyGqGxYxPWoelwmGbf0QFLIKAuJeUY4gkUrOuG0ypMqSfMCY5oXqRyQNoFBeMj4-rf3fO2HSZuuzFh6RfAhiQUOB0mhu1FMnZNnkfdasfJ-Tjd3cZm3lh88B0ouKAVkPXVh278OA/s1600/sharefb185.png"></a> <a href="http://www.blogger.com/share-post.g?blogID=3629012486930784822&postID= 4968595552378729448&target=twitter" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEip3bfhc90-5xenm9-eqI_ICgI5V8KPl28Gu8oXZsvNDA_oIk8ioAazonJE38acYIiOnSDyuPWj6zn-8wCMPPY5TMVVENEoNk2PfH73eNX5qkEIkvLossHYwU848ikKXjhyr1MRuJIjmFo/s1600/sharetw185.png"></a></div>

Events Europe Philippines UK 2017: What is in Store for Filipinos in Britain

Filipinos in Bristol 2016 is about to end. There are Filipinos who work and reside in the UK and with the Brexit vote last May 2016, this 2017 may seem to be a year of uncertainty in many aspects. It was an unexpected vote and it turned medium and l…

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