WorldRemit founder and CEO Ismail Ahmed took the stage at TechCrunch Disrupt London to talk about his company and his views on the future of remittances.
The startup is hedging its future on remittances from the 10 million Filipinos who work overseas, as well as revenue growth from its SaaS business, and increasing demand for it services from domestic workers.
The survey contained questions relating to respondents' nursing skills, qualifications and grade prior to migration, the recruitment process, immigration status, arrival, adaptation and orientation, various nursing jobs held in Ireland, career opportunities, experiences of bullying, remittances and future plans.
Figure 7 Effects of remittances and savings on future expected consumption.
In many developing countries today, as in Ireland previously, remittances secure the economic future of individuals, families and societies [ 2, 36]; reduce vulnerability to economic shocks [ 37]; and alleviate poverty [ 37].
In other words, unlike savings, remittances affect the distribution of future consumption through (i) their different returns in each location and (ii) their impact on return migration.
With a tenth of the country GDP received as personal remittances (data from World Bank), the future for Bitcoin in the Philippines looks bright.
In the future, Ayannah hopes to expand to the remittance markets of countries in Latin America, South Asia, and Africa, and eventually become "Amazon for the next four billion," says Perez.
There appeared to be a slight variation in remittance behaviour, depending on the future plans of respondents.
