Franco Varona
speaker
1,024 appearances
2 recordings
1 series
first heard Nov 2025
last heard 1 Apr
Franco Varona’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Apr 2026 with 1.
Appearances
And I think that happens like all the time, especially when your flights are cancelled in an airport, right?
Um
So so we have that very robust BPO economy.
We have a huge, huge part of our population that's actually abroad and sends something like 90% of their savings back to the Philippines.
I will argue that that's actually part of our middle class, which we call our OFWs, our overseas Filipino workers.
And those and those folks are sending 90% of their money home.
And of course, what's happening when it gets here, right?
It's it's being spent, right?
10% of
The savings is being s saved, yes, but it's being saved in the home excuse me, in the countries that these people are working in, in Singapore, in Canada, in the US, Australia, Saudi Arabia, largely the Middle East.
That's where much of the savings is happening.
But a lot of the spending, you know, on the diapers, on the food, on everything else that's higher in the in the Mazos hierarchy is is actually happening on the ground here in the Philippines.
And that's kind of exciting.
And that actually forms part of the thesis of our fund three as well.
Yeah, that's a great question.
Um
I you know, I I had this had the same question myself uh pre-2018.
Twenty eighteen was actually when we founded when we founded Foxmont.
And you know, every time I'd go out there and I'd try to raise money as an operator to Singapore, to to outside of Singapore as well.
I mean, always the answer we get is like, okay, it's too early in the Philippines.
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