Cost of Living in the Philippines

The Philippines has a very low cost of living as compared to other countries.  This is the prime market appeal of the country particularly for those who seek a perfect place for their much-desired time for retirement.  Expenses on housing, food and labor are all reasonably priced.

The monetary unit of the country is the Philippine Peso.  Foreign currency may be exchanged at some banks, hotels, department stores, and authorized money-changing shops accredited by the Central Bank of the Philippines.  International credit cards such as VISA, Diners Club, Bank Americard, Master Card, and American Express are accepted in major establishments.

Meat products in the country are pork and beef.  Poultry and eggs are also staple food sources.  The Philippines has several varieties of fruits and vegetables like mango, papaya, cabbage, eggplant, durian and beans which are sold at less than one Euro per kilo.  Fish products like tuna and marlin are abundant in the southern island of Mindanao.  The country also manufactures drinks like goat milk and fruit juices.

Housing in the Philippines is very cheap but expatriates may have to change their citizenship  or be married to a Filipino citizen before being allowed to own a land.  The density of the population in Manila makes the city more susceptible to expensive products and services compared to other places in the country.  Since the city is the central district for businesses, schools, and other political and societal undertakings, it is advised to rather settle on less populated urbanized area like Metro Cebu or Metro Davao.

Some expatriates enjoy the southern regions of the Philippines since these are less populous and are more conducive to starting a family or retiring.  The provinces are usually the spots where expatriates intend to buy properties; some foreign investors with agricultural businesses live on the southern islands; rent for house or apartment in these areas may cost less than 100 Euros.