Wednesday, June 15, 2011

Gotta Love That Exchange Rate!!!

Being a math major and a numbers guy, I have been comparing the prices of things here in the Philippines to their respective prices in the US. Here is the exchange rate to begin with: 1 US Dollar = 43 pesos (Yes, they also use pesos in the Philippines). 

It probably will not surprise you that most things in the Philippines are WAY cheaper than in the US, especially the FOOD :) Whereas $5 in the states you might be able to get a second-rate lunch special or just get a few things off the dollar menu, $5 will take you pretty far in the Philippines. You can still go to a fast food restaurant and it will cost you no more than $3, or you can go to a sit-down restaurant and probably order two entrees, a couple cups of rice, a drink AND a dessert for $5! And in my opinion, the food here is better :) Also, other things like outdoor activities are so much more affordable (at least I think...) My four-hour whitewater rafting excursion was only 800 pesos (<$19), 4 zip-lining experiences amounted to 1150 pesos (<$27) and my tickets for Pirates of the Caribbean 4 and Kung Fu Panda 2 cost just 220 pesos (>$5). Additionally, other things like clothes cost less here. My aunt took me to the mall and she bought me 5 Lacoste shirts and a pair of shorts for 2650 pesos (<$62), which is just ridiculous. Yes, one can argue that the quality is not as good as in the states, but it's still pretty legit and a steal nevertheless! This is just some of the many things that are cheaper here.

However there are a few things that are more expensive here than in the US. The first thing that I noticed that was more expensive was the gas. The price of unleaded gas here in the Philippines is roughly 46.85 pesos/litre so after a couple of conversions gas turns out to be $4.129 per gallon (I'm hoping gas is still sub $4 in the US!) As well things like electronics, cars and even toiletries are more expensive here in the Philippines, sometimes twice as much more as in the US. Practically anything imported from outside of Asia is more expensive here.

The cost of labor is so cheap, therefore things in the Philippines are a lot cheaper... as long as you have the money. Coming from the states, the value of our dollar is "strong" therefore all these things are very affordable. However for most of the population of the Philippines, the things I mentioned above are luxuries. According to my relatives, the average family earns roughly 175 pesos a day (barely over $4) so to just go out to a restaurant would be back-breaking monetarily. It truly breaks my heart as I ride through the cities and the mountains to see families that are barely making it day by day. To see children who wear the same filthy clothes every day. Knowing these children will never have the opportunities like we do back in the states. I can only pray that they will somehow break through the cycle of poverty.

God tells us to count our blessings, to name them one by one. Each day of this trip has truly been showered with blessings upon blessings, even some that I probably will not comprehend until months, even years from now. I am so thankful to my parents for giving this opportunity to back to the Philippines. I hope you all are having great summers! Take care and God Bless!

No comments:

Post a Comment