REMOTE work can help reverse the brain drain in the Philippines by allowing highly skilled professionals to work for global companies while at the same time contributing to the country’s economy and development, according to a human resource global platform.
Remote workers could contribute to the local economy by spending money on things like food, accommodation, shopping, and entertainment, which helps support local businesses. “International remote workers who stay longer also pay taxes to the government, which helps fund important services,” Chris McNamara, Chief Revenue Officer at Remote, told the BusinessMirror in an email interview.
As remote work becomes more popular and job requirements become more flexible around the world, McNamara said people will now have more freedom to choose where they want to settle down. He said the trend will benefit businesses as it presents an opportunity to attract a wider pool of top talent. “Moreover, remote work also contributes to better employee engagement and retention, countering the phenomenon of quiet quitting,” McNamara said.
Citing the 2023 Remote Workforce Report, McNamara pointed out that fully remote employees are the most satisfied group and display a high degree of satisfaction. “They value the flexibility in their work and believe they are treated better compared to their hybrid and in-office counterparts,” he said.
McNamara said the trends in remote work present an opportunity even for developing countries like the Philippines to become leaders in the knowledge economy by attracting more skilled remote workers.
Furthermore, workers subscribed to the Remote network are drawn to places that provide a good quality of life, a thriving economy, easy immigration, and a supportive tax system.
He said more than 50 countries worldwide have recognized the demand and have introduced digital nomad visa programs which allow non-residents to stay in their country for a specific duration while working remotely for a foreign employer.
Those residing outside of Metro Manila will have less pressure to leave their hometowns for the big cities, as remote work also opens up employment options for those residing in rural areas, thus creating more balanced opportunities across regions and fostering economic growth nationwide.
Remote is a platform that makes it simple for any company to hire, pay, and offer benefits to anyone anywhere in the world in a legally compliant manner. In order to facilitate this, it went through the process all over the world of getting a business license, establishing operations, opening bank accounts, and hiring people, so that it can serve clients hiring in dozens and dozens of countries.
McNamara said Remote views the Philippines as a priority country in the region and it has enabled international companies to expand their presence there since 2021. “It’s fair to say that the Philippines is a country that requires specific knowledge of the local compliance environment in order to successfully do business here—though with the emergence of companies like Remote, the barriers to expanding to the Philippines have never been lower,” he said.
“In saying this, our view is there is still an opportunity for the local government to do more in attracting foreign investment in the age of distributed global teams, like providing more immigration support and infrastructure for remote work,” he added.
He thinks government should also designate a certain region and invest in infrastructure, marketing, and other tactics to build it up into a global remote work destination. “For example, a lot of people now think of Bali as a remote work paradise, and the Canary Islands are developing a similar reputation in Europe thanks to the programs of the Spanish government,” he said.
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