About 62% of overseas Filipino professionals plan to relocate back home within the next five years, due to personal reasons such as to take care of aging parents and be closer to family, reports The Manila Standard citing research from Robert Walters. The 62% figure represents an increase from 2021, which saw 54% of respondents consider coming home. Robert Walters study, which polled over 120 overseas Filipino professionals across various industries, stated the disparity in compensation and benefits offered locally and a perceived lower standard of living conditions are making professionals think twice about relocating back.

The survey showed that 56% of those who are willing to come back cited the desire to take care of their aging parents and family as the top reason for wanting to return to the Philippines. This was followed by those (44%) who retained a strong emotional, social and cultural connection to the country.

About 65% of overseas Filipinos surveyed say they considered the current economic situation as a factor when deciding whether to relocate back to the Philippines. About 46% of respondents with a positive outlook on returning mentioned confidence in the Philippines’ economic stability, growth prospects, and opportunities for entrepreneurship or business projects as encouraging factors for their desire to return.

Meanwhile, 30% of overseas Filipinos have no intention of returning to the Philippines. Respondents show low confidence in the country’s economic stability, with 38% expressing reluctance to return due to economic concerns. The majority (80%) believe that the economy is more stable overseas.