SURVEY: Philippines offers lowest living costs for expats

[explorer]

SURVEY: Philippines offers lowest living costs for expats
Posted: 1:57 PM | Nov. 14, 2005
Agence France-Presse

SINGAPORE -- The Philippines has the lowest living costs for expatriates, according to a survey of 32 countries and territories released Monday.

The Philippines, which placed at the bottom of the survey, was the cheapest country to live in followed by Argentina, Thailand and Malaysia, said an annual cost of living study by human resources organization ECA International.

The survey also showed that Asia has generally become less expensive for expats when compared to Western Europe and North America due to the region's steady inflation rates and currencies.

The region's biggest economy, Japan, slipped one notch down from 2004 to rank as the third most expensive place to live globally, according to ECA.

"Japan is now relatively less expensive than it was in 2004 which is due to the fact that the price of goods and services has continued to fall over the past twelve months," it said.

Norway remained the most expensive country, unchanged from its position in 2004, followed by Denmark which rose one place to rank as the second most costly place for expatriates.

Singapore was ranked 23rd while arch economic rival Hong Kong placed 18th. South Korea was sixth.

"Economic stability in the region means that there are few significant changes in cost of living in Asia," said Lee Quane, ECA's general manager in Hong Kong.

"Steady inflation rates and stable currencies are keeping cost of living differences within the region largely in line."

European countries dominated the top 10 with the only exceptions being second-place Japan and South Korea in sixth.

Switzerland placed fourth, followed by Finland in fifth and Ireland in seventh. France was eighth, followed by Sweden, with Britain filling out the top 10.

[basti08]

kasi lumalaki value ng pera nila dito... and besides, if look closely at our situation right now...taas ng taas gas, mantika, asukal, bigas etc...pero kung titignan mo mura parin compared sa other countries. di lang talaga madali kita pera.

kaya nawiwili mga expats dito.

[Chip]

cost of living is cheap for them kasi sa labas sila kumikita e. pero if sa pinas ka rin kumikita, believe me it aint cheap.

take for example south korea, mataas nga bilihin dito, on average 2-3X more expensive pero on the average sweldo dito 5x higher. so in proportion to income it's actually cheaper to live here. kaso studyante lang ako kaya shet sobrang mahal hehe

[theveed]

Speaking of which, just got back from HK, grabe as in ang konti lang mabibili mo sa pera dun even if you're making money there...

Rent averages near 10K HKD/month.

Yung gatas lang ng anak ko, 450/500mg dito dun 140HKD!!!!

[badkuk]

at first glance, akala mo it's something to be proud of; once it sinks in, you realize ithat 3rd world currency just doesn't hold up to $$$ that well B)

[cardo]

This is somewhat true, 4/5 of my neighbors(who've I met) are all foreigners married to filipinas. Two Japs, an American and a Brit... Sabi nga ng British, he wanted to retire here and just go back to the UK for a month or two because he does get more out of his "quids" in the Philippines. Sarap buhay ng loko, maghapon asa golf course

Kaya ideal din na magtrabaho sa ibang bansa, ipon ng ipon... tas balik ka dito para malaki yun kita ng dollars mo....

[basti08]

o nga eh, meron akong kilala na ang yabang yabang di naman maganda trabaho sa 'tate kumbaga ala naman sya don pero pag umuuwi sya dito napaka yabang kasi dumadami dollar nya dito.

[theveed]

Sabi nga ng mom ko, yung nakukuha nya sa senior citizen social security sa HK malayo na mararating kung peso kung dito ginastos.

[nicolodeon]

Yep, this is true. That's why our HO expats always look for an assignment here in the Philippines.

[1D4LV]

not only that. dito masasarap buhay nila (lalo na yung mga expat naming mga ponjaps dito)... dito mga naka volvo at camry pa. nakakapag golf pa every weekend... condo pa sa the fort nakatira...

samantalang sa kanila, naka train lang. di na makapag golf (one round of golf there costs around 15,000 petot...)