Philippines or Republic of the Philippines is an island country situated in South East Asia in the Pacific Ocean. Being very close to the Equator, this nation experiences a lot of earthquakes and typhoons. Philippines is often considered one of the greatest bio diversities in the world, which is due to the huge abundance of natural resources that it is home to. This country is the 64th largest country in the world in terms of the total area and its capital city is Manila.
Philippines has a total population of about 99 million people and is the 12th most populous country globally. It has the 39th largest national economy in the world and is a relatively newly industrialized nation. Let’s find out something about the cost of living in Philippines:
Cost of living in Philippines
The currency of Philippines is Peso, which we’ll denote as P in the following part of this article:
- The cost of living is the average cost incurred by the people of Philippines in their day to day lives. This cost may vary from city to city, for example, the cost of living in Manila is higher than other smaller cities of towns.
- Overall, the cost of living in Philippines is very low, as compared to western nations and some other places in Asia.
Food and drinks
Food and drinks, both are very cheap in this country and any regular individual is likely to spend around 3 to 4 euros in a mid-segment restaurant. But eating out in fine dining restaurants and expensive eateries can cost anything between 100 to 120 euros. The items in the grocery list of people of Philippines are generally bought from local markets, to save cost. A water bottle of 0.33 litre costs around 15.71 P. A coke or Pepsi of similar quantity costs 23.20 P.
The fact that this country is highly populated makes housing costs cheap, especially in smaller cities. But higher urbanized cities like Cebu and Davao may have expensive accommodation. A 3 Bedroom apartment in the City center can cost around 72558 P.
Service and transportation costs
Service costs in this country are very cheap as everything is mainly subsidized by the government. Transportation can also be considered towards the cheaper side and the normal tariff for taking a taxi to 1 km of distance costs somewhere around 40 P. A litre of gasoline costs 52.65 P in Philippines. A ticket to local transportation such as buses is even cheaper.
Clothing and accessories
On an average, a Filipino spends around 100 euros every month on clothes and overall, clothing is not very expensive. For example, one pair of Levi jeans is likely to cost around 2459.53 P whereas a pair of Nike shoes costs 3700 P
Sports and Leisure
Filipinos love to spend on entertainment and leisure and for this, they prefer cinema, sports and other forms of entertainment. To spend one hour in a tennis court, a Filipino has to spend 217.61 P.