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Renewed my passport. Is my existing ACR still valid when I go to extend my stay?

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20 hours ago, hk blues said:

I doubt there are enough retired foreigners here to significantly impact the overall economy

When I consider retirees from other South East Asian countries, Like South Korea, I see a significant impact on the overall economy.  As of last year, the Chinese alone make up 34% of the foreign retirees in the Philippines.  

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22 hours ago, Jollygoodfellow said:

They do? What issues do you see? 

My point is that I think that the Philippines is doing a tit for tat with countries that make it difficult for Filipinos to enter their country, because these countries don't want them to become a burden. 

If you have a proven income there should be no issue. Just an opinion.

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19 hours ago, Dave Hounddriver said:

When I consider retirees from other South East Asian countries, Like South Korea, I see a significant impact on the overall economy.  As of last year, the Chinese alone make up 34% of the foreign retirees in the Philippines.  

I'm unconvinced that the impact is significant given that retirees tend to have more disposable income but perhaps spend less than the younger generations.  It isn't really relevant what %age of foreign retirees are Chinese or indeed any other nationality - we are talking about contribution to the local economy.  Unless there is evidence that the Chinese are bigger spenders than other nationalities?  

I suppose it depends on how we are defining significant - 5% may be significant to you but not so much to me. 

Edit - Just out of interest, the percentage of foreigners here is 0.2% .  Given that is ALL foreigners the percentage of retirees must be quite insignificant.  

Edited by hk blues
Added Point

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1 hour ago, hk blues said:

I suppose it depends on how we are defining significant - 5% may be significant to you but not so much to me. 

 

The figures quoted for percentage of GDP for 'remittances' has been running at around 10% of GDP for some years.

I would think that a reasonable percentage of that is related to foreigners with wives and girlfriends and families whether resident or not (although yes some will be from Filipino OFW). 

Of course even if it was half (which I doubt) it'd still only be 5%.  

 

I remember reading somewhere (and I can't find the reference) that it was actually more like 2.5% to 3%.

 

https://www.theglobaleconomy.com/Philippines/remittances_percent_GDP/

Edited by GeoffH
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