Cost of Living in The Philippines for 2023
A tropical island nation comprising 7,000+ islands, both big and small, the Philippines is a much sought-after country for business investments, vacations, and retirements. There’s plenty to do around its 114,145 sq mi land area: beach hopping, mountain trekking, urban exploring, etc.
Perhaps the pictures online attracted you to give the country a visit or you’ve been a tourist before and enjoyed it so much that you were compelled to move and set up a business in the country — no matter the reason, it’s important to know how far your currency would go once you step foot on the Philippines’ shores.
In this article, find out the cost of living in the Philippines for 2023.
Costs of Basic Goods in the Philippines
Livingcost.org, “a crowdsourced database with a cost-of-living calculator for prices comparison in 9294 cities in 197 countries all over the world,” reveals the following prices for basic goods in the country:
(Prices indicated were collected on January 5, 2023 and were calculated by Livingcost.org based on a “population-weighted mean of 86 cities” in the Philippines.)
How Much Is Gas in the Philippines?
Gas price/Transportation costs
- 1 Liter or 0.26 US gallon $1.26*
*The Philippines’ Department of Energy has a weekly monitoring page that releases retail pump prices in the National Capital Region which can be accessed here.
Base fares for common public transportations options in the Philippines:
- Traditional jeepney $0.21
- Modern jeepney $0.25
- Regular (non-airconditioned) bus $0.23
- Air-conditioned bus $0.27
- Taxis $0.76
- Ride-sharing app rides – More popularly known as Transportation Network Vehicle Services (TNVs) in the Philippines:
- Hatchback-type vehicles $0.63
- Sedan-type vehicles $0.81
- AUVs and SUVs $0.99
Utility bills (electricity, water, etc.)
Per month $59.50 – $91.60
Rental costs
- 1-bedroom apartment (430 square foot) $162 – $299
- 3-bedroom apartment in city Center (860 square foot) $745
Costs of groceries
- Rice (1 kilo or 2.2 pounds) $0.9
- Milk (1 quart) $1.61
- Water (1 quart) $0.46
- Cheese (1 kilo or 2.2 pounds) $5.75
- Eggs (1 dozen) $1.62
- Banana (1 kilo or 2.2 pounds) $1.42
- Tomato (1 kilo or 2.2 pounds) $1.25
- Apples (1 kilo or 2.2 pounds) $2.27
- Potato (1 kilo or 2.2 pounds) $1.63
- Oranges (1 kilo or 2.2 pounds) $2.17
- Chicken Breast (1 kilo or 2.2 pounds) $3.81
- Toilet Paper (4-pc set) $1.47
- Shampoo $2.85
- Toothpaste $1.4
Medical care, health, and personal grooming costs
- Doctor’s visit $11.3
- Gym membership (Per month) $35.6
- Haircut $3.51
Eating out
- Fast food meal $2.89
- Lunch meal $3.31
- Dinner for two at a restaurant $18.5
The cost of living in the Philippines is affordable and is ranked 146th amongst 197 countries for living costs.
This means that you can live and save more money while working in the country. Compared to other Asian countries, it’s much cheaper to live here—even compared to neighboring countries like Thailand, China, and Vietnam.
With its highly-educated and English-speaking workforce, no wonder many global companies are setting up business processing operations and satellite offices in the island nation. If you want to save costs and build a presence in a country with strongly influenced by American culture to this day, then there’s no other place to be but The Philippines.
We hope this article has given you a better idea of the costs associated with living in the Philippines to make the best decisions for yourself, your family, and your business. Remember that these are average prices and that costs vary between large cities and small towns in the country so best to exert due diligence to do research before deciding to make your big move.
References
“Cost of Living in the Philippines: 86 Cities Compared .” Livingcost.Org, 2020, https://livingcost.org/cost/philippines.
“Currency Exchange Rates – International Money Transfer | Xe.” Currency Exchange Rates – International Money Transfer | Xe, https://www.xe.com/. Accessed 7 Jan. 2023.
“NCR/Metro Manila Prevailing Retail Pump Prices.” Republic of the Philippines | Department of Energy, https://www.doe.gov.ph/price-monitoring-charts?q=retail-pump-prices-metro-manila&withshield=3.
“Philippines.” Encyclopædia Britannica, Encyclopædia Britannica, https://www.britannica.com/place/Philippines.
Verdad, Radyo La. “Taas Pasahe Sa Jeep, Bus, Taxi at TNVS, Epektibo Ngayong Araw – Radyo La Verdad – Radyo La Verdad.” Radyo La Verdad, 3 Oct. 2022, https://radyolaverdad.com/taas-pasahe-sa-jeep-bus-taxi-at-tnvs-epektibo-ngayong-araw/.
