While contemplating whether or not to change your life entirely and leave your home country to relocate in a foreign part of the world, thoughts of various concerns likely consume you. A decision of this magnitude is neither basic nor simple. We hear you. We know.
While in the midst of this profound contemplation, arguably the most essential concern—can I afford to do this?—is the cost of living. The answer, if you are from the United States, Australia, anywhere in Europe or nearly every other country or continent around the world—and if you choose the Philippines—is a resounding and emphatic, “Yes! You can! Yes!”
Prior to making a monumental decision such as this, one should due his or her due diligence and research exhaustively. As you are here at this blog, you are obviously in the midst of that research, and we welcome you and congratulate you for your healthy state-of- mind as well as your courage (we know only those with a more brave characteristic ever even consider becoming an expat). As this is clearly a Philippines-centric blog focusing on Tablas Island and its rich opportunities, we are here to help—so let’s get to what is possibly the most pressing question: Exactly how far will my money go in the Philippines?
Great question! The answer—although the specifics are different for every individual—is even better: FAR!
If you are from the previously mentioned United States, Australia or Europe—let’s use Germany as our specific example—there is overwhelming and valid evidence that demonstrates your money will stretch more than twice as far than if you stayed home! Referencing the bar chart above, let’s take a quick look at the numbers.
If you are an American, your bank account will extend approximately 65% further if you choose to live in the Philippines!
Consumer prices in the Philippines are 50% lower than in the United States. Rent in the Philippines is 80% lower; restaurant prices are 70% lower; and grocery prices are 50% lower. There is a long list of number and comparative prices at the end of this document, but what it says, when it is analyzed and computed is that—in general—the Philippines is 65% less expensive than the United States of America!
shoesIf you are an Australian, your bank account will extend approximately 67% further if you choose to live in the Philippines!
Consumer prices in the Philippines are 55% lower than in Australia. Rent in the Philippines is 80% lower than in Australia; restaurant prices are 70% lower; and grocery prices are 509% lower.
If you are European—perhaps you are even from Germany?—your bank
account will extend approximately 57% further if you choose to relocate in the Philippines!
netConsumer prices in the Philippines are 48.51% lower than in Germany. Rent in the Philippines is 70% lower than in Germany; restaurant prices are 65% lower; and grocery prices are 35% lower.
Clearly, a pinpoint accurate answer to the question How much will it cost me? is impossible to answer accurately in this format. Your monthly expenses—in both your current country and in the Philippines—largely depend on your location and the type of accommodation you choose. Whether you are single or with family also has a large effect on your expenses. Supposedly minor details, such as the type of groceries you buy and the place where you buy them, ultimately add up as well.
cinemaWith that understanding, both the above examples and below charts focus on the general, middle-of-the-road, cost-of- living comparisons between the Philippines and the United States of America, Australia and Germany. By looking at a small sample of various and everyday expenditures, we believe it provides an extremely useful overview of the financial benefit of re-locating in the Philippines.
Here’s the best part:
All of the quoted prices used for the Philippines are from Metro Manila.
“So?” you might say.
That is significant because the prices on Tablas Island are even lower—across the board—than they are in the more expensive Metro Manila! Your money will stretch even further on Tablas!
For those of you who are more detail-oriented, please find below three comprehensive comparative analysis — USA vs Philippines , Germany vs Philippines; Australia vs Philippines — that clearly illustrate the overwhelming financial benefit.
See you on Tablas!
For some comparison analysis: