THE AVERAGE PRICE OF A BIG MAC IN THE PHILIPPINES IS 2.75 THIS IS ONE OF THE CHEAPEST COUNTRIES TO
TRAVEL TO HOW CHEAP YOU WONDER A SHIRT LIKE THIS 90 CENTS A MICKEY MOUSE DRESS 90 CENT A PAIR OF
SHORTS 90 CENTS A MINI BACKPACK 2.75 AND A FAKE NIKE BAG FOUR DOLLARS THIS IS DINNER AND THE PRICE
IS FOUR DOLLARS AND THAT INCLUDES A LOCAL ICED TEA AND FAKE NIKE SHOES AND DOLLARS BUT HOLD UP IS IT
CHEAP FOR THOSE OF US VISITING HERE WITH STRONG CURRENCIES OR IS IT ACTUALLY CHEAP FOR THOSE
LIVING HERE TOO IT'S NOT THAT CHEAP IT'S VERY PRICEY ESPECIALLY FOR SOMEONE AN AVERAGE FILIPINO
MOST OF US ARE EARNING BARE MINIMUM SEE AN AVERAGE FILIPINO WORKER MIGHT MAKE 10.50 PER DAY THAT'S
ABOUT ONE DOLLAR 30 CENTS PER HOUR AND CONSIDER A DINNER OUT AT A POPULAR FAST FOOD RESTAURANT WILL
COST YOU AROUND FOUR DOLLARS SO THAT'S ALMOST A HALF A DAY'S SALARY JUST TO EAT OUT AND REMEMBER
THIS IS FAST FOOD NOT SOME SIT-DOWN RESTAURANT EVEN IF YOU WOULD WANT TO JUST YOU KNOW A NORMAL
THING IT WOULD BE VERY VERY PRICEY FROM THE AMOUNT OF WHAT WE'RE GETTING PAID FOR THERE ARE
114 MILLION PEOPLE LIVING IN THE PHILIPPINES AND THE COST OF LIVING IN THE PHILIPPINES IS A MAJOR
CONCERN FOR TENS OF MILLIONS LIVING HERE WITH ABOUT ONE IN FOUR LIVING BELOW THE POVERTY LINE
AND IT DOESN'T HELP THAT THE PHILIPPINES IS NOW DEALING WITH INFLATION THAT IS AT A 14-YEAR HIGH
OKAY MANY COUNTRIES ARE DEALING WITH INFLATION BUT WHILE THAT MIGHT CUT OUT SOME EXTRA EXPENSES LIKE
EATING OUT FOR MANY AMERICANS WHAT WOULD THAT MEAN FOR THE AVERAGE FILIPINO VERY VERY VERY EXPENSIVE
IF YOU LOOK AT IT IN THIS WAY THE STUFF THAT HAS INCREASED ARE THE NECESSITIES THAT WE HAVE TO MAKE
MONEY HERE GAS HAS INCREASED PEOPLE WHO TRAVEL TO WORK HAVE TO SACRIFICE THAT PEOPLE WHO DO
SERVICES AND TRANSPORT AND ALL THAT STUFF HAVE TO SACRIFICE THAT EGGS OH MY GOSH EGGS HAVE INCREASED
LET'S ASSESS THE PURCHASING POWER OF SOMEONE IN THE PHILIPPINES AND LET'S USE MCDONALD'S AS AN
EXAMPLE THE AVERAGE PRICE OF A BIG MAC IN THE PHILIPPINES IS 2.75 COMPARE THAT TO THE UNITED
STATES WHERE IT'S ABOUT FIVE DOLLARS FIFTEEN CENTS OKAY SO IN THE PHILIPPINES IT COSTS ABOUT 50 FOR A
BIG MAC THAN THE PRICE IN THE US BUT AGAIN IMAGINE THE AVERAGE WAGES ARE ONLY 10 PERCENT WHAT THEY
ARE IN THE UNITED STATES SO YOU CAN QUICKLY SEE HOW SOMETHING AS SIMPLE AS A BURGER AT MCDONALD'S
BECOMES NOT AN EASY QUICK CHEAP MEAL BUT MAYBE SOMETHING MORE OF A SPECIAL OCCASIONAL TREAT WHAT
YOU JUST HEARD IS CALLED THE BIG MAC INDEX IT'S BASICALLY A MEASURE THAT ECONOMISTS CAN UNDERSTAND
PURCHASING POWER PARITY SO THAT MEANS YOU CAN LOOK AT SOMEONE'S PURCHASING POWER ONLY RELATIVE
TO THEIR CURRENCY AND ACCORDING TO THE GOOD GOVERNANCE ORGANIZATION OF THE PHILIPPINES THEIR
CURRENCY'S PURCHASING POWER IS AT ITS WEAKEST IN FOUR YEARS AND THIS IS BEING CAUSED BY FOOD
GETTING MORE EXPENSIVE AND RUSSIA'S INVASION OF UKRAINE IMPACTING GLOBAL OIL SUPPLIES THAT MEANS
WHAT USED TO COST YOU 100 PESOS IN 2018 NOW COSTS YOU 113 PESOS HAVE YOU NOTICED AS WELL IN OTHER
COUNTRIES THE PRICE OF EGGS HAVE INCREASED IF YOU LOOK AROUND THE PHILIPPINES PEOPLE MAKE A LIVING
OUT OF EGG SO INFLATION DID HAVE A TOLL ON US AND A BIG TOLL HOUSING IN A BIG CITY LIKE MANILA CAN
EASILY EXCEED WHAT SOMEONE CAN AFFORD A DECENT ONE-BEDROOM APARTMENT HERE CAN COST ANYWHERE FROM
200 TO 500 PER MONTH AND THIS CAN INCREASE EVEN MORE IF THE INDIVIDUAL WANTS TO LIVE IN A PRIME
LOCATION OR IN A HIGH-END RESIDENTIAL AREA FOOD AND GROCERY EXPENSES IN THE PHILIPPINES CAN ALSO
ADD UP QUICKLY A MEAL AT A MID-RANGE RESTAURANT CAN COST BETWEEN SIX TO TEN DOLLARS GROCERIES
FOR A WEEK CAN COST ANYWHERE FROM FORTY TO ONE HUNDRED DOLLARS TRANSPORT ROTATION EXPENSES IN THE
PHILIPPINES ARE ALSO SIGNIFICANT ESPECIALLY FOR THOSE LIVING IN CITIES PUBLIC TRANSPORTATION LIKE
BUSES CAN EASILY ADD UP AND AMOUNT TO DAYS OF ONE PERSON'S MONTHLY SALARY SO TAXIS AND RIDE HAILING
HERE ARE A PRIVILEGE FOR THOSE WHO CAN AFFORD IT SARAH TELLS ME THAT NOW HER AND EVERYONE SHE KNOWS
HER AGE IS STUDYING WITH THE INTENTION TO MOVE ABROAD WHERE WAGES ARE HIGHER AND SHE INTENDS TO
LIVE A BETTER LIFE CURRENCY WISE AND YOU CONVERT IT YOU WOULD SAY THAT PHILIPPINES IS SUPER SUPER
CHEAP ESPECIALLY LIKE LIVING IN ANOTHER COUNTRY AND COMPARING THE PRICE POINT YOU WOULD BE LIKE
WHERE HAS THIS BEEN ALL MY LIFE BECAUSE IT'S SO SO CHEAP I DON'T HAVE WAGES ADAPTED HAVE WE JUST COME
JUST BY A LITTLE BIT THOUGH JUST ABOUT LIKE 20 30 PESOS TO BE HONEST AND THAT IS NOT EVEN THAT
BIG IF YOU CONVERT HOW MUCH A MINIMUM WAGE OF A NORMAL FILIPINO WORKER MAKE AND IF IT'S LIKE A
NORMAL GOOD JOB AS WELL IT DOESN'T SUSTAIN AND HELP WITH THE INFLATION AS WELL AND BECAUSE OF
SUCH A BIG WAGE GAP AS MANY AS ONE IN 10 FILIPINOS WILL MOVE ABROAD TAKE UP A NEW JOB WHERE THE WAGES
ARE HIGHER LIVE THERE AND THEN STILL HAVE MONEY TO SEND BACK TO THEIR FAMILIES IN THE PHILIPPINES BUT
I'M MAKING A WHOLE OTHER VIDEO ABOUT WHY FILIPINOS MOVE ABROAD WITH LOTS OF INTERVIEWS SO MAKE SURE
YOU SUBSCRIBE AND FOLLOW MY CHANNEL SO YOU DON'T MISS THAT THE PHILIPPINES RECORDED ITS BIGGEST
ECONOMIC GROWTH IN 40 YEARS WHICH IS GREAT BUT THIS COULD LARGELY BE BECAUSE OF LOCKDOWN FOR
SEVERAL YEARS AND NOW HOUSEHOLD SPENDING SHRANK FOR NINE MONTHS IN A ROW AND CITING HIGH INFLATION
IN TIGHTER MONETARY POLICY ONE FIRM IS SAYING WE EXPECT A DIFFICULT YEAR AHEAD FOR THE PHILIPPINES
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