How much does it cost to live in the Philippines?
For starters, this is not an easy question to answer. Costs and prices vary significantly from one place to another. Other factors like the type of accommodation you wish to have or whether you are living alone or with your family will greatly inform what kind of budget you need while living in the Philippines.
Nevertheless, knowing how much purchasing power you have in an economic jurisdiction you are moving to is crucial to how you set your budget.
Therefore, in this infographic, we’ve summarized aggregate and average cost of living and rent cost data for all the cities in the Philippines.
The cost of living index is calculated by Numbeo. You can visit their website to learn more about their data-gathering methodology and statistical modeling.
Cost of Living in the Philippines
The cost of living in the Philippines is $587 per month, which is 1.59 times less than the global average. The Philippines was ranked 146th out of 197 countries according to living costs, and 106th for lifestyle.
The average salary in the Philippines, after taxes, is $302. This is just enough to cover living expenses for half a month.
Here’s a brief overview of the cost of living and rent costs in the Philippines:
Prices in the Philippines
Numbeo uses a weighting system that averages 86 cities’ prices to calculate the average prices of goods in the Philippines.
Here’s what they found:
Final Thoughts
The cost of living in the Philippines is relatively low, especially when compared to other countries. This makes it a very affordable place to live, and it’s possible to get by on a relatively small salary. However, prices can vary significantly from one city to another, so it’s important to do your research before moving.
The average cost of living is $587 per month and the average rent cost is $167 per month. The cost of living in the Philippines is 1.59 times less than the global average, and the Philippines was ranked 146th out of 197 countries according to living costs. The average salary in the Philippines, after taxes, is $302.
Sources:
Living, C. (2020) Cost of Living in the Philippines: 86 cities compared [2022], Livingcost.org. Available at: https://livingcost.org/cost/philippines (Accessed: 11 October 2022).
Living, C. (2022) Cost of Living in Philippines, Numbeo.com. Available at: https://www.numbeo.com/cost-of-living/country_result.jsp?country=Philippines (Accessed: 11 October 2022).
0 Comments