Philippines is an archipelago in South Eastern Asia, between the Philippine Sea and the South China Sea, east of Vietnam. The climate is tropical marine monsoon. The official languages are Filipino and English. The local language is Tagalog, and there are also several regional dialects. Many Filipinos particularly in business circles are at least partly educated in and speak excellent, though heavily accented, English. The main religion is Christianity. The economy of the Philippines is a mixed economic system, and one of the newly industrialized emerging market economies of the world. Important sectors of the Philippine economy include agriculture and industry, particularly food processing, textiles and garments, and electronics and automobile parts. Expatriate business dress is generally formal in the form of suits – a trouser suit is acceptable for women. The security risk for expatriates in the Philippines is medium overall, but high in areas of insurgency, such as Mindanao and the Sulu Archipelago. Risks include general crime, insurgent and associated criminal activity, kidnapping and banditry. Other risks include earthquakes, volcanic activity, typhoons, tropical storms, and flooding. The currency of Philippines is the Philippine Peso (PHP). Some ATMs accept international cards. Shops and restaurants in towns and cities usually accept major credit cards. Medical facilities vary but is generally below international standards and is limited in remote rural areas. Treatment can be very expensive. Zika virus has been reported. The population of the Philippines is 101 Million (2018 est.), while the inflation rate (CPI) is 4.5% for Philippines as at April 2018. For a single Expat, the personal income tax rate in the Philippines is progressive up to 35%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Philippines, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Philippines as at 1 April 2018 is very low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very Low 2) Clothing: Average 3) Communication: Very Low 4) Education: Very Low 5) Furniture & Appliances: Average 6) Groceries: Very Low 7) Healthcare: Low 8) Household Accommodation: Average 9) Miscellaneous: Very Low 10) Personal Care: Very Low 11) Recreation & Culture: Very Low 12) Restaurants Meals Out and Hotels: Very Low 13) Transport: Very Low Philippines is for example -22.2% cheaper than USA for groceries, -8.9% cheaper for household costs than UK, and 47.1% more expensive for transport costs than India. The hardship premium for Philippines for an expat from Australia, is for example 30%, i.e. host location (the Philippines) premium of 40% minus home (Australia) location premium of 10%. Philippines is ranked as a extreme hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Philippines? Register subscribe to your home location and Philippines and run your personalised reports.