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Remittances to the Philippines and income from the business process outsourcing (BPO) sector may be affected by U.S. President-elect Donald Trump’s strict immigration policies.
Meanwhile, reduced security support from Washington could heighten tensions in the West Philippine Sea, according to Japanese investment bank Nomura.
These are the key areas where the Philippines is most at risk following Trump’s victory in the contentious November 5 election.
Zooming out, Nomura said in a commentary that Trump 2.0 will be negative for growth in Southeast Asia, albeit at varying degrees.
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“The Philippines does not have a similar cushion and will be at risk from the impact on workers’ remittances from a possible tightening of US immigration policy and on the outsourcing sector,” Nomura said.
READ: Trump on Day 1: Begin deportation push, pardon Jan. 6 rioters
Remittances hit 2024 high of $3.
