How Cheap Is the Cost of Living in the Philippines, Really?

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The Philippines has popular tourist destinations like Cebu and Boracay, and is loved by many people as a travel destination.

Especially during the cold months of December to February, the Philippines offers a midsummer climate in contrast to Japan, making it a perfect country for activity-focused trips too.

Another reason the Philippines is so popular as a language study abroad destination is that "the cost of living is relatively low."

Although prices have been rising in recent years, living costs there still tend to be easier to manage overall compared to Japan.

This time, we'll give you an easy-to-understand introduction to the Philippines' currency, a general guide to prices, and tips on currency exchange.

< The Philippines' Currency Unit>

The currency of the Philippines is the "Peso."

The name comes from the Spanish currency, the "peso." It's a currency with relatively high circulation even within Southeast Asia, and it's also handled by banks in Japan.

As of a January 2023 estimate, 1 peso is roughly 22–23 yen.

Locally, it's said that if you calculate by roughly "× 25",
it becomes easier to get a sense of the amount in Japanese yen.

Example:
100 pesos × 25 = approximately 2,500 yen (estimate)

This calculation method is convenient for roughly grasping prices displayed in stores.

< So How Are Prices in the Philippines?>

■ Local Restaurants

If it's a local eatery,
you can often have a meal for less than about 5,000 yen per person.

However, at tourist spots and famous restaurants in places like Cebu or Manila, it can come to around 10,000 yen or so per person.

■ Price Range at Tourist Spots

In popular cities like Manila and Cebu,
you might sometimes feel that "it's not as cheap as I imagined."

In particular, restaurants inside shopping malls and shops aimed at tourists can be priced at a range not so different from Japan.

■ Korean and Japanese Grocery Stores

At stores that carry Korean and Japanese ingredients, prices are often about the same as, or even higher than, in Japan.

Things where you're more likely to actually feel the low prices include:

• Taxi fares

• Alcohol such as beer

• Local food

and other items like these.

< Where's the Best Place to Exchange Currency?>

It's possible to exchange yen directly for pesos in Japan, but
in general,

exchanging yen for dollars in Japan → then exchanging dollars for pesos locally in the Philippines

is often the method that keeps fees lower.

For long-term study abroad, we recommend the following approach:

• Exchange only the amount you'll need right after arriving at the airport (such as taxi fare) into pesos

• Bring the rest in dollars and exchange it locally

This is the approach we recommend.

Exchange rates at money changers in the city are often better than at the airport, so it's a good idea to compare rates before exchanging.

Summary

The Philippines is popular as a language study abroad destination for reasons such as:

• Relatively low cost of living

• Good accessibility from Japan

• An environment where you can also enjoy sightseeing

For reasons like these, it enjoys great popularity as a language study abroad destination.

Understanding prices and how to exchange currency in advance will make your life there go more smoothly.

If you're considering studying in the Philippines, we hope this has been helpful.

On Awork Academy's official website, we organize information about working holidays and language study abroad by country in an easy-to-understand way.

If you have any questions, please feel free to reach out to us anytime.