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Photo by Alessio Biribicchi
Forget Singapore, forget Hong Kong. Manila is the best place to be an expat – and 12 expats will tell you why.
We’ve all heard that Manila has increasingly become a center of economic growth and foreign investments, and with great foreign investments come a great number of friendly neighborhood expats. In 2010, the NSO stated that almost 200,000 foreigners were living in the Philippines. Now I don’t know what the current number is, but based on observing the pedestrians of Makati for the past year, I would boldly say that 2 out of 20 pedestrians are probably not Filipino.
A lot of people might ask – why is Manila the best place to be an expat? There are so many opportunities for expats in the urban jungles of Singapore and Hong Kong. Well, we talked to some expats from the Netherlands, from America and even all the way from Colombia who all settled down in the Philippines once they saw the great opportunities here. After reading what they say below, you might be asking yourself – why not Manila?
Jacqueline Van den Ende, Managing Director of Lamudi Philippines
Van den Ende, from the Netherlands, arrived in the Philippines in 2013 as the managing director of Rocket Internet’s Lamudi, their online real estate marketplace. Since she’s arrived, she can’t imagine being anywhere else. She often travels around the Philippines and goes surfing for weekend escapes, but loves living in the cosmopolitan city of Manila.
“Manila is a great destination for expatriate employees,” she said. “Cost of living here is not very expensive unlike Hongkong and Singapore, though the city provides a quality of life that’s comparable to Bangkok or Jakarta.”
Van den Ende believes that one of the best attributes of Manila is its openness to different cultures as well. “It will be easy for expats from all types of backgrounds to settle in Metro Manila. Filipinos are world renowned for their hospitality and their friendliness is definitely unlike anything I’ve ever experienced.”
Mauro Cocchieri, Managing Director of foodpanda Philippines
Cocchieri comes from Italy, a country known for its great cuisine and accommodating people.He worked at Lazada before becoming the managing director of foodpanda, an online food delivery platform.
Despite his country’s solid culinary reputation, he claims that the Philippines has amazing food and amazing company which goes hand in hand. “The people are very accommodating and they go out of their way to help you. The food, hands down, is one of the best I’ve had.”
Cocchieri, however, cannot help but crave for some homegrown Italian food from time to time. When asked if he often orders through foodpanda he said, “Of course! With my busy schedule, it always pays to have an alternative.”
David Margendorff, Co-Founder & Chairman, PawnHero Philippines
Our third European on the list, Margendorff hails from Germany.
He praises Filipinos for their fun culture and hospitality, but emphasizes that Filipinos are some of the most ambitious and talented professionals he’s ever met. Margendorff is starting PawnHero this year, and he’s chosen Manila as the first city to launch it in. He is currently working with a local team.
PawnHero will be the first online pawnshop in Southeast Asia. Margendorff promises to give Filipinos a cheaper alternative to existing pawnshops which charge extremely high interest rates. “We want to solve the problem of expensive credit for consumers who might not be able to afford it,” he says.
Margendorff has lived in 7 countries for the past 6 years, but he eventually chose to settle in the Philippines. He plans to stay here long-term, mainly because he can see how much impact he can create through PawnHero.
Jimmy Cassells, CEO of Spiralytics
Cassells is from the United States. He’s been in the Philippines since 2005, and he is one of the minds behind the quick growth and expansion of online fashion marketplace Zalora. 2 years ago, he started his own company called Spiralytics, which provides a range of services in digital marketing to some of the biggest brands in the Philippines.
“I love the Philippines!” Cassells begins, “People are so warm, embracing, endearing, and the culture here is wonderful. At work, the team becomes good friends with each other. Everyone definitely feels like they’re part of the ‘barkada.’”
Cassells also exclaims that the tech community here in Manila is exploding with brilliant startup minds. He continues by saying that not all startups are destined for success, but when startups fail, there is still a very low cost of failure when you start in the Philippines. He states, “Failure in the US often means millions of dollars. Here, you can cut that by a factor of 10.”
He also loves the nightlife, the weather, and the beautiful beaches and unlimited dive spots of the Philippines. His favorites include the Tubbataha marine sanctuary, Malapascua for thresher sharks, and Coron for the sunken Japanese WWII warships.
When asked if there was anything else, he said, “Yes! Four months of Christmas which leads up to one of the most amazing fireworks displays in the world. It’s more fun in the Philippines!”
Ezra Ferraz, Chief Content Officer at Zipmatch.com
Of Filipino heritage, Ferraz taught writing for three years at the University of Southern California and grew up in the US. He moved to the Philippines not very long ago, and writes for Rappler. He currently works at Zipmatch, another online real estate marketplace. He’s interviewed almost every Filipino entrepreneur you can think of, including Erwan Heussaff, and he believes that the Philippines is definitely a great place to pursue business.
Ferraz explains that the entrepreneurial sector in the Philippines is still a small community. “It’s much easier to meet the entrepreneurs changing X industry or Y space because there are relatively few of them, compared to what you might find in another city of similar size.”
“You are never really more than one or two degrees away from someone you’d like to meet,” he adds, “And due to the overwhelmingly friendly culture of the Philippines, other entrepreneurs generally welcome you with open arms.”
Farouk Meralli, CEO of mClinica
Farouk Meralli is a 28-year-old Harvard School of Public Health graduate who worked in strategy and management for major pharmaceutical companies Roche, Johnson & Johnson and Pfizer before finally becoming an entrepreneur. He founded mClinica, the largest pharmacy network in the country with a growing network of over 1,400 pharmacies and access to over 20 million customers.
He chose the Philippines as their launch market for mClinica because it provides an interesting test environment for creating truly global products. “The Philippines represents a fascinating intersection between the East and the West. Due to its cultural and political history, one can identify behavioural norms and practices that fit both Eastern and Western paradigm,” he said.
After launching in the Philippines, mClinica is expanding to several emerging markets after leveraging on their experiences in the country. Meralli insists that while he is based in their Singapore headquarters and travelled in many Asian markets, the Philippines is undoubtedly his favorite. To him, it represents the best of both worlds.
Robin Leonard, CEO and Co-Founder of AllFamous Digital
Five years ago, Robin Leonard moved from New Zealand to the Philippines to start working at IBM before finally starting his own company, AllFamous Digital.
Leonard told us that coming here alone was no problem and not difficult. “Within weeks I had a big group of Filipino and foreigner friends and colleagues that were very welcoming. Culture at work is very family oriented.”
Working culture in the Philippines is not what Leonard is used to back home – and he means this positively.
“Getting people onboard requires one on one lobbying, not big meetings. Laughter is commonplace and gangs or “barkadas” form between staff, often resulting in life-long friendships, which is a good thing. As a foreigner you need to accept that you will sing karaoke, and over time you will learn to give it your all when Hotel California plays.”
According to Leonard, the Philippines also serves as a great place to work because business is done in English. However, he admits that he’s earned a couple of ‘brownie points’ with Filipinos by learning a few keywords in Tagalog.
“It often creates a giggle or surprise if you drop a Tagalog word here and there,” he adds.
Leonard leaves us with a couple of wise words for future expats who want to start their business here: “Crack the big city lifestyle of Manila and you’ll find that it is a gold mine of opportunity, especially for the “expatrepreneur.”
Joost Boer, VP of Operations at Gourmet Society Philippines
Joost Boer comes from the Netherlands, a country known for its liberal capital Amsterdam, but also widely renowned for its cold, rainy weather throughout the year. After arriving in the Philippines, where there is year-round sunshine, warm people, and a stunning array of islands according to Boer, it’s no wonder that he immediately considered establishing himself here long-term.
“You’ll find no country in Southeast Asia where the culture is so welcoming towards foreigners and where the level of English is this well-developed. From a more business-centric perspective, this has a profound impact on the ease of communication with your co-workers as well as on conducting business development,” he adds.
He continues by praising the business outlook and directional perspective of the Philippines. “Here, you’ll find yourself on an upward curve, and the overall levels of optimism are high. This is a far-cry from life in Europe, where the outlook on life over the years has more and more slanted towards pessimism.
Boer concluded by saying that he strongly recommends his fellow foreigners to consider making the move to the Philippines as well.
Daniel Torres, Managing Director of Easy Taxi Philippines
Daniel Torres comes from the exciting Latin American city of Bogota in Colombia. He’s been here in the Philippines for a little over a year and he says that Filipinos have been very welcoming since his first day.
“I’ve been amazed and pleasantly surprised by the warmth and helpfulness of Filipinos. Metro Manila has so much to offer in terms of food, cultural diversity and affordable yet high quality living. You’ll always find something new, which makes it a fun city to explore and rediscover.”
Torres also adds that there are a lot of nearby getaways like Puerto Galera, Tagaytay and Sagada, which easily gives people the opportunity to take a break from the fast paced metropolitan.
As the managing director of Rocket Internet’s Easy Taxi Philippines, Torres is happy to contribute to make a better Manila, by improving its transportation system, reducing traffic, and make it safer for everyone.
Henry Keppler, Managing Director of Kaymu Philippines
Henry Keppler is also from Germany, and he just arrived in Manila a week ago. Although he’s been here very briefly, he already feels that Manila has huge potential for fast growth. Kaymu, launching soon, is another Rocket Internet venture.
Keppler felt the trademark Filipino hospitality. “I immediately felt connected to locals. Their genuine openness and interest in what I do and why I’m here pleasantly surprised me. Compared to other Asian countries, they are very open!”
Launching new ventures may be difficult to do in a new country, especially when it is critical to have low resistance from potential customers. Keppler feels that Filipinos are willing to try out new products, and he is definitely excited to learn more about the city and its different characteristics.
Dip Ghuman, CEO of Near
Dip Ghuman worked at Google and Lonely Planet before joining the entrepreneur world. He believes the Philippines market is a sleeper – slowly building steam, quietly, ready to pounce on an unsuspecting world economy.
“With the world so focused on Silicon Valley, China, Japan, Europe, etc – no one is looking at the Philippines. Here’s why they should,” he begins.
According to Ghuman, one of the first things that caught his attention about the Filipino market was that 60% of the population in the Philippines is younger than 20 and that was coupled with GDP growth of 6%+ YoY. Because of these facts, he views the Philippines as a representation of the next financial boom in Asia.
“There is a growing Westernized middle class who speaks perfect English, and this makes the country an ideal springboard to launch your business in Asia. Barring corruption, the Philippines has a small window of opportunity to return the country to its pre-World War 2 status as the ‘Pearl of the Orient,’” Ghuman adds.
Ghuman says that he’s started two businesses within two years, the latter of which is launching in March 2015 in Manila. “I got on that plane a year and a half ago to start my California wine business, but now I’m focusing on a new hyperlocal mobile messaging app, Near.”
Ghuman concludes, “Manila is the social media and selfie capital of the world – there is nowhere better for me to be than right here, right now.”
Bryce Maddock, CEO of TaskUs
Bryce Maddock arrived in Manila in 2009 from the United States. He had just started TaskUs and was determined to connect rapidly growing American startups with incredible talent at prices that would enable them to scale. He found what he was looking for in the Philippines.
“When we just started TaskUs, I wouldn’t have been able to find the Philippines on a map if you asked me. We went on a search for affordable talent to support our friends’ startups. We hired people in 16 different countries, but were consistently impressed by the results and work that Filipinos were delivering. We were so impressed, that we opened our first office here, in Bacoor, Cavite and have not looked back since.”
Today, Maddock has 1,600 employees and counting. TaskUs is the secret behind the rapidly growing customer support and back office operations for startups like Tinder and HotelTonight.
“Almost all of today’s most successful startups depend on the talent that exists in the Philippines. Simply put, it’s the people. The people of the Philippines are some of the kindest and most talented people on the planet. Historically, the country exported its people as OFWs. But today a homecoming is happening,” says Maddock. “The next decade is going to be very exciting as talent repatriates and reinvests in the country.”
It’s time for the balikbayan to come back for good.
One of the Philippines’ biggest exports is its own people. Everyone was leaving to work abroad because they believed there was no opportunity for them here. All that amazing talent went into making prosperous countries even more prosperous.
Today, we should acknowledge that that is no longer true. The best opportunities for business are here in the Philippines. Foreigners are flocking here to start their businesses in the perfect Asian beta market. They happily leave their first world countries for what the Philippines has to offer.
We, as Filipinos, should all find it in ourselves to see the beauty of our country the way they do; to finally discover the diamonds that have been waiting to be found for decades.
https://www.kalibrr.com/advice/2015/02/why-manila-is-the-best-place-to-be-an-expat/?utm_source=social&utm_medium=facebook&utm_content=Social-Content-Why-Manila-Expat-150217&utm_campaign=Social-Content
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More and more people are choosing to retire abroad to enjoy a better climate, new experiences, access to affordable healthcare and a lower cost of living. One destination long popular with expats is the Philippines, a nation that spreads out over more than 7,000 islands. Its borders are Taiwan to the north, the Pacific Ocean to the east, Indonesia and Malaysian Borneo to the south, and the South China Sea to the west. A large expat community enjoys everything the country is known for – beaches, beautiful scenery, tropical climate and friendly locals – plus affordable healthcare and a low cost of living. Other perks: The Philippines extends a number of incentives to expat residents, including discounts for the 60+ crowd and the duty-free import of household goods.
No matter how much you have saved for retirement, you may be able to live better – and make your money stretch further – if you retire abroad. (see Retirement: U.S. Vs. Abroad). Here, we take a quick look to see if it’s possible to retire in the Philippines with $200,000 in savings.
A GENUINELY LOW COST OF LIVING
Each year, International Living’s Global Retirement Index ranks retirement destinations around the world, measuring factors such as climate, healthcare, benefits and discounts, and cost of living. For the 2015 Index, the Philippines scored 92 out of 100 for cost of living, placing it in the top 10 for cost of living, and matching Belize, Cambodia, Ecuador, Guatemala and Thailand. Only Nicaragua and Vietnam ranked higher for low cost of living, each earning a perfect score of 100.
International Living also shows that most expats can live comfortably in the Philippines for about $800 to $1,200 a month. Some basic math shows that if you live on $800 per month – probably the lowest amount for which most retirees could live comfortably – your $200,000 savings account would last about 21 years ($200,000 ÷ $800 = 250 months, or 20.8 years); live on $1,200 a month and your savings would last 14 years ($200,000 ÷ $1,200 = 166.66 months, or almost 13.9 years). This is, of course, a basic example that assumes your monthly expenses stay exactly the same over the years, and that you have no other income or expenses (e.g., tax liabilities) during retirement.
ADD IN SOCIAL SECURITY
In addition to savings, many retirees have access to other income sources during retirement. The average retired worker’s Social Security benefit, for example, is $1,328 per month for 2015.
Just adding Social Security into the mix, makes retiring comfortably in the Philippines with $200,000 start to seem like a very real possibility. Your monthly benefit alone might be enough to cover most of your living expenses – housing costs, food, activities and basic healthcare – with money left over for the occasional trip back home or to cover an unexpected expense.
RENT OR BUY?
Like anywhere in the world, what you pay for rent in the Philippines depends on the location, size and condition of the property. According to city and country database website numbeo.com, the average monthly rent for a one-bedroom apartment in a city center is $228.94; outside a city center the rent drops to an average of $124.77 per month. For three-bedroom properties, average rent is $394.53 (inside the city) and $240.59 (outside the city).
While rent is generally considered affordable, if you plan on living in the Philippines for awhile, buying a condominium might be a more cost-effective option. Although foreigners, in general, are prohibited from buying property in the Philippines, the Philippine Condominium Act makes it possible for expats to purchase condominiums (essentially because condominium ownership does not convey any type of ownership in the land on which it sits).
For information on which locations you might want to investigate, see Find The Top Retirement Cities In The Philippines. If you buy something, see Do You Get U.S. Tax Deductions On Real Estate Abroad?
TIPS FOR SPENDING LESS
If you end up living in a place where you’ve previously enjoyed vacationing, it can be difficult to make the financial switch to everyday life. One mistake that many new expats make is acting – and spending – like they’re still on vacation. While it’s normal to splurge on vacation, spending too much on meals, attractions and the like on a long-term basis can quickly burn through your retirement budget.
One way to avoid overspending is to find out where the locals shop for meals, groceries, nightlife, entertainment, attractions, etc. By getting to know the local vendors and other expats, you can find out where to buy things at the “local” rate instead of the “tourist” rate. This is a hugely important step in maintaining a low cost of living abroad. You might already do this at home (without even thinking about it). You probably know where to find the best deals and which places to avoid because they are overpriced. Do the same thing abroad and your money can last much longer.
THE BOTTOM LINE
The uncertainty of anyone's lifespan makes it impossible to predict if $200,000 alone would be enough to last through retirement anywhere – even in a country with a low cost of living such as the Philippines. What is clear is that living abroad during retirement can offer a better quality of life for your money and enable you to make retirement dollars stretch further.
As with any retirement destination abroad, it’s a good idea to visit the area more than once before making any decisions – and try to visit from a resident’s perspective, rather than as a tourist. In addition, taxes for those retiring abroad can be quite complicated. As such, it is always recommended that you work with a qualified attorney and/or tax specialist when making plans for retiring abroad. Start by reading How To Plan Your Retirement In The Philippines. Then check out Plan Your Retirement Abroad.
Note: Because of continued violence, certain areas in the Philippines should be avoided. On Nov. 20, 2014, the U.S. Department of State issued a travel warning for the Philippines – in particular the Sulu Archipelago, the island of Mindanao and the southern Sulu Sea area. Other areas in the Philippines are generally considered as safe as other places in Southeast Asia.
U.S. citizens traveling to or residing in the Philippines are encouraged to enroll in the Department of State’s Smart Traveler Enrollment Program (STEP), which provides security updates and makes it easier for the nearest U.S. embassy or consulate to contact you in case of an emergency.
Authored By Jean Folger
Originally publish in http://www.investopedia.com/articles/personal-finance/031815/retire-philippines-200000-savings.asp?partner=YahooSA on March 18, 2015
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In celebration of the Year of the Wood Sheep that starts this month, the Chinese community in the Philippines, are always looking forward to the celebrations.
The day of the celebrations is determined by the Chinese lunisolar calendar, allocating it somewhere between January 21 and February 20. In 2015, Chinese New Year is celebrated on Thursday, February 19. It has been declared a special non-working holiday by the Philippine Government.
In order to get attuned for Chinese New Year, and to know what to expect from the Year of the Wood Sheep regarding love life, business, and other important matters, we present you the 2015 Chinese Zodiac.
The Restless Rat (1900, 1912, 1924, 1936, 1948, 1960, 1972, 1984, 1996, 2008)
Charming, the rat are expressive and can be talkative sometimes. They knows how to attract the opposite sex. He is also a hard-working person who places a lot of importance on saving money. The rat prefers to keep. He doesn't like to lend. If the rat has to spend, it's gonna be on himself first. He's only generous with love. Timid and reserved, the rat is very capable of anger. He is frank, honest, but he still loves to gossip.
The Diligent OX (1901, 1913, 1925, 1937, 1949, 1961, 1973, 1985, 1997, 2009)
Calm and tranquil, the ox are hard working and persistent. They inspires trust, but his bad temper and inconsistency often make him lose patience. The ox is eloquent, persuasive and good with his hands. He is also quite stubborn and rarely expresses passion in his relationships. The ox in the Chinese zodiac has a tendency to keep distances from his family.
The Powerful Tiger (1902, 1914, 1926, 1938, 1950, 1962, 1974, 1986, 1998)
Tigers are born Leader, are unpredictable, always tense. and like to be in a hurry. They are courageous and powerful. They inspire respect and reject authority. Tigers are big dreamers. They are extremely sensitive and are always ready to show affection to family members and friends. It is said that they ward off thieves, fire and ghosts!
The Delicate Rabbit (1903, 1915, 1927, 1939, 1951, 1963, 1975, 1987, 1999)
The Rabbits are usually kind, sweet and popular people, extremely talented and have good taste. We can count on the rabbit when doing business because he is honest and lucky. He is tender with the people he loves, but he keeps his distances from his family. Sometimes arrogant and moody, the rabbit lives a tranquil and prosperous life. Rabbits are respected because they have a remarkable capacity to learn new things.
The Celestial Dragon (1904, 1916, 1928, 1940, 1952, 1964, 1976, 1988, 2000)
Dragons are born leaders and masters of ceremonies. Dragon people get things started and keep them moving. They are energetic, robust and stubborn. They are honest and courageous, and they inspire trust. People admire them. They know how to get what they want. One of their biggest fears is to not be loved. It is the most eccentric sign of the Chinese horoscope.
The Diplomatic Snake (1905, 1917, 1929, 1941, 1953, 1965, 1977, 1989, 2001)
Snake people are born charming and popular. Snakes are spotlight magnets, and they will not be ignored. They makes decisions quickly and firmly. They are serious and introvert. People don't trust them easily and they can't communicate very well. Snakes are said to be wise and philosophical, but many think they are also very egoistic. Snakes are always willing to help the less fortunate. Money isn't a problem for them. They prefer to listen to their own judgement. They rarely accept other people's advice.
The Productive Horse (1906, 1918, 1930, 1942, 1954, 1966, 1978, 1990, 2002)
Horse people are active and energetic. They got plenty of sex-appeal and know how to dress. The horse is very quick-witted. They are optimistic, intuitive, sure of themselves, sociable and talkative. Attractive and intelligent, they are often at the mercy of the opposite sex. Horses can manage their money quite well and they are very efficient at work. Horses love freedom and they seldom stay at home.
The Gentle Goat (1907, 1919, 1931, 1943, 1955, 1967, 1979, 1991, 2003)
Goat people are elegant, charming, artistic, gifted and fond of nature. People born under this sign are also the most creative. They usually shy from confrontation, pull back when faced with heavy decision-making and blatantly refuse to take an unpopular stand in a conflict. They are honest, generous, and they know how to show sympathy with those who are hit by bad luck. They show good taste and have greatly developed artistic talents. Thoughtful and compassionate, sheep can easily be distracted by little insignificant events. The sheep is the most irritable sign in the Chinese horoscope.
The Merry Monkey (1908, 1920, 1932, 1944, 1956, 1968, 1980, 1992, 2004)
Monkeys are fun and loving persons who are always cheerful and energetic. If you go to a party, you'll find Monkeys at the center of attention. Their charm and humor is the key to their popularity. Monkeys are tremendously inventive, original, and intelligent. They are capable of solving complex problems. Monkeys love to be the center of attention - they crave recognition and seldom respect their peers. They usually succeed in their undertakings and are good at attracting and saving money.
The Enthusiastic Rooster (1909, 1921, 1933, 1945, 1957, 1969, 1981, 1993, 2005)
Roosters have a very keen "sixth sense". With Roosters what you see is exactly what you get. There are no hidden depths to the Rooster's character. Rooster make great hosts and adore entertaining. Roosters are sociable, brave, and competent. They love to start tons of projects at the same time, but rarely finish them. Eccentric, and nonconformist, roosters in the Chinese zodiac have very changeable ideas. They are outwardly confident and are very proud of who they are.
The Dutiful Dog (1910, 1922, 1934, 1946, 1958, 1970, 1982, 1994, 2006)
Dogs are born old and get younger as they age. They take everything very serious. The Dog enters a relationship where he is the giver and the partner is the taker. The dog has a giving, compassionate personality. He is loyal and honest, and has a great sense of justice. The dog isn't the healthiest element of the Chinese zodiac. He is said to be tough with people around him and he usually pays more attention to his own needs. He likes to finish what he starts. He is the most trustworthy sign of the traditional Chinese horoscope.
The Chivalrous Pig (1911, 1923, 1935, 1947, 1959, 1971, 1983, 1995, 2007)
Pigs are models of sincerity, purity, tolerance, and honor. They are careful and caring, obliging and chivalrous. Put your trust in him, he won't let you down and he will never try to. Pigs are the people everyone admires most. The pig know how to enjoy life. They are fun, honest, and thoughtful. They will do just about anything to help their friends if they are in need. Pigs are outspoken, confident, and extroverted. They have a tendency to be lazy and to spend money on useless things.
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The Philippine Retirement Authority will be conducting a Briefing on SPECIAL RESIDENT RETIREE'S VISA (SRRV) at the company's office in Makati. Below is the detail of the said event:
AN INVITATION
Make the Philippines your second home
Enjoy multiple entry, indefinite stay, and tax exemption privileges through the
SPECIAL RESIDENT RETIREE'S VISA (SRRV)
What: Briefing on the Philippine Retirement Programs
When: 26 February 2015, Thursday, 2:00 pm
Where: Philippine Retirement Authority
29/F Citibank Tower, 8741 Paseo de Roxas, Makati City
Registration is free. Please contact Ms. Naricris Sison at Tel. No. 02 848 1418 or Email clientrelations@pra.gov.ph.
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Are you in the process of deciding where to settle down after your retirement? Maybe you want to consider the Philippines as your retirement destination after it bagged a spot in Forbes magazine’s “20 Best Foreign Retirement Havens for 2015.”
“For U.S. retirees the principal appeal of the Philippines is a low cost of living in a tropical environment full of English speakers and outdoor beauty,” Forbes said in its website.
The business magazine, which often comes out with lists and rankings of countries and personalities, further noted that foreign income is also untaxed in the Philippines.
A foreign national can easily obtain permanent residency by showing their retirement income, it said.
“Popular locations include Tagaytay, a suburb of Manila, the capital, that is elevated and therefore cooler, and Subic Bay, with an infrastructure from the old U.S. Navy base. Non-stop flights between Manila and the US average 15 hours,” it added.
Forbes said it based its rankings on the following factors: cost of living, taxes, medical care, climate, security and crime, cultural attractions and hospitality, as well as ease of return to the US.
Below is a copy of the list in alphabetical order:
1. Australia
2. Belize
3. Canada
4. Chile
5. Colombia
6. Costa Rica
7. Croatia
8. Ecuador
9. France
10. Ireland
11. Italy
12. Malaysia
13. Mexico
14. Nicaragua
15. Panama
16. Philippines
17. Portugal
18. Spain
19. Thailand
20. Uruguay
To know more about retiring in the Philippines and avail of the Special Resident Retiree's Visa (SRRV) contact us at prasrrv@gmail.com
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Baguio Blooms
1. Baguio city
Situated amidst the mountainous region of Cordillera, Baguio City is one of the few place in the Philippines blessed with a cool climate. Aptly called the Summer Capital of the Philippines, uphold its picturesque mountain sceneries and breath-taking destinations tourists love to visit from time to time.
Baguio City was established by the Americans as a hill station in 1900, It was their playground who built this city as their vacation spot because of its clear blue morning skies, refreshing pine scented mountain air, foggy afternoons, and chilly romantic evenings.
Baguio City is gifted with a variety of cultural, historical and scenic attractions which make it an important and interesting destination. Stroll down Session Road and shop in an ukay-ukay (thrift shop). The downtown market sells all sorts of carved bulul (rice gods) and the infamous Barrel Man. Woven rattan products such as pasiking (native backpacks) and baskets come in all varieties. You can also see the carvers in action.
Artists are particularly drawn to this serene city. Visit the Bencab Gallery and Museum, owned by the National Artist Ben Cabrera.. Built on the edge of a hill with an incredible view of a rainforest and garden. The museum is Ethnographic masterpieces in the form of spoons, pipes and bowls are showcased along with paintings and sculpture.
Baguio has a number of attractions and destinations that showcase its rich heritage. Burnham Park, Camp John Hay and Mines View Park are places to hang out.
Baguio boast of luscious strawberries, and crisp vegetables. A propussion of flowers in a variety of brilliant hues.
All these are uniquely baguio.
Igorot Kids (Natives of the Cordillera)
2. Angeles city, Pampanga
A former home of Clark Airbase, is in a prime location between major foreign financial and residential areas including the Clark Freeport Zone and the capital city Manila. Dubbed as The entertainment capital of the Philippines, recognised around the world for its famous walking street and unique nightlife scene throughout the city. Angeles became home to a large colony of expatriates and retirees, as many Americans chose to permanently settle in the area.
Boasting with numerous international school, and premier universities, that offer your children the quality education that they deserve.
The city is a sanctuary for retirees. The city has all the components a retiree is looking for: availability of excellent transport system via air (Diosdado Macapagal International Airport) and land via SCTEX, a scenic natural landscape with proximity to numerous natural attractions and low cost of living.
The city also has a bustling Korean community in Barangay Anunas. It houses Korean establishment along the Fil=AM Friendship Hi-way.
Hot Air Balloon Festival, Clark, Pampanga held every Febuary
3. San Fernando, Pampanga
The capital city of Pampanga named after King Ferdinand VI of Spain. San Fernando has been the choice industrial location of business establishments. Fernandinos (natives of the city) are known for their creativity and craftsmanship especially in lantern making hence San Fernando is referred to as the Christmas Capital of the Philippines.
San Fernando is highly urbanized, and have a wide range of product and service provider (2 big shopping malls, 7524 business establishment 35 tertiary schools and 10 hospitals) Real estate prices are much lower, and with better offers in terms of amenities.
San Fernando is accessible via Land (North Luzon Expressway) and air (Diosdado Macapagal International Airport).
Giant Lantern Festival, held every Christmas Season
4. Tagaytay
One of the country's most popular tourist destinations because of its outstanding scenery and cooler climate provided by its high altitude. Tagaytay overlooks Taal Lake in Batangas and provides one of the iconic views of the Philippines, the view of Taal Volcano Island in the middle of the lake, viewable from several vantage points in the city.
Just a 2-hour drive from Manila, Tagaytay is a relaxing and safe haven where one can relax, unwind and be one with nature. It is is the perfect place for leisure activities such as picnic, horseback riding, sightseeing and just to hangout.
Tagaytay is also a favorite place for those seeking for some quiet time and for a spiritual journey.You may visit some of Tagaytay's chapels and seminary houses where you could have time to meditate and commune with nature and with our creator.
Tagaytay sunrise, overlooking Taal Volcano
5. Olongapo City, Zambales
Olongapo City is a highly urbanized city located in the province of Zambales. Along with the town of Subic, it comprises Metro Olongapo, one of the twelve metropolitan areas in the Philippines.
Metro Olongapo is a former home of one of the largest US military facilities outside of the US mainland, the Subic Bay Naval Base.
Subic Bay is the Philippine's top playground for sports and extreme adventures. Subic Bay is known for it's diversity in culture, cuisine and leisure activities that makes an experience of a lifetime. From panoramic views to extreme water sports activities. Everything is here. Let the cool breeze of Subic Bay welcome you to paradise. Adventure or relax, Subic Bay has got it all.
The Subic Bay Freeport Zone is on the former site of the US Subic Naval Base, and is host to many tourist attractions which include casinos, beaches, diving/snorkeling, parks, beachside huts and cottages and historical artifacts. The Freeport is right next to Olongapo City (which was administered by the US Naval Base commander back in the 1950s), separated only by a moat constructed by the US Navy.
Beside the Freeport, Olongapo City, formerly a part of Subic municipality, is directly accessible to and from the Freeport.
The Subic Bay International Airport is the airport serving the immediate area of the Subic Bay Freeport Zone and the general area of Olongapo City. This airport used to be the Naval Air Station Cubi Point of the United States Navy. Its airport terminal has 2 gates. Currently, it was proposed to be converted into a logistics hub.
Olongapo is accessible through the National Highway (via Zigzag Road). Another access to the city is via SCTEX and Subic–Tipo Expressway exiting to the gates of Subic Bay Freeport Zone.
The Port of Subic is one of the busiest, largest, historical and most important of Ports in the Philippines.
Lighthouse Marina Resort Viewed from Parola Subic Bay
6. Cebu City
Known as the country's oldest city, Cebu is now a mega metropolis situated in the very heart of the Visayas Region. Cebu is considered as a major business hub next to Manila. Cebu has its indelible mark in history, being the seat of colonialism by the Spanish regime. And even during pre=colonial history, Cebu was already the center of trade with merchants from China, Malaysia, Japan, India and other parts of Asia.
Cebu is the gateway to around two-thirds of the Philippine archipelago. It is the primary destination of approximately 35% of the Philippines’ foreign visitors.
Superb destinations, low operating costs and excellent government administrative support favor the development of new destinations which are serviced from Cebu. There are opportunities for ocean and land recreation, transportation, marketing, and tourism-related developments such as mountain resorts, hotels and golf courses.
After their arrival, travelers retrace historic journeys, play golf, hike mountain trails and laze on pristine white sands and dive on exotic coral reefs that equal the very best of anywhere.
Cebu is a kaleidoscope of varying cultures and lifestyles, a meeting of east and west, a fusion of things traditional and modern.
This is influenced by the various phases of Cebu: being the spot where Philippine history began, becoming the cradle of Christianity, experiencing American and Japanese occupation, and later on transforming itself into a regional hub of everything — from arts and craftsmanship, to business and information technology.
Being part of a tropical country, Cebu is lined with pristine white sand beaches perfect for weekend and holiday getaways. Famous resorts include Alegre Beach Resort in the municipality of Sogod, renowned for its white powdery beach and efforts in marine wildlife preservation.
At the sunset coast of Cebu, another prominent tourist destination is the Badian Island Resort and Spa. A first class resort, it boasts of crystal blue waters, fine white sand beaches and the splendor of nature in the little island basking at Badian Gulf.
Sanctuaries also abound in the province. One of these is the Olango Wildlife Sanctuary, six miles off the east coast of mainland Cebu. The island play host to a total of 77 species of migratory birds in the East Asian Flyway.
The city is readily accessible by air via the Mactan-Cebu International Airport located in Lapu-Lapu City. It serves as the main gateway to domestic and international routes to or from Cebu City and other islands in the Visayas region. Daily flights are available to and from Cebu as well as numerous direct daily flights to and from Korea, Singapore, HongKong and scheduled flights to Japan, Qatar, Malaysia Taiwan and China. Aside from these, the Mactan Airport serves several seasonal charter flights to Russia, China USA and UK.
Cebu city's domestic port is the country's busiest. Cebu city is home to almost 80% of the country's passenger vessels. As of now, several shipping companies service inter-island and international destinations: Sulpicio Lines, Gothong Southern Shipping, Cebu Ferries Corporation, Cokaliong Shipping Lines, George & Peter Lines, Inc., Lite Shipping Corporation, Negros Navigation Co., Inc. Ocean Fast Ferries, Inc. WG&A Super Ferry and Trans-Asia Shipping Lines.
All these, plus the convergence of personalities and groups from varying backgrounds give the island a culture and lifestyle that is uniquely Cebu.
Sinulog Festival held every 3rd Sunday of January in honor of the Child Jesus
7. Davao City
It is the center of Metro Davao, the third most populous metropolitan area in the Philippines. The city serves as the main trade, commerce, and industry hub of Mindanao and the regional center of Davao Region. Davao is home to Mount Apo, the highest mountain in the Philippines. Davao is also known as the "Durian Capital" of the Philippines.
Davao is a melting pot of various cultures, which include minority indigenous groups such as the Bagobo, Mandaya, Mansaka, and Maguindanaos. The locals, who refer to themselves as Dabawenyos and Dabawenyas, are a friendly bunch who shares a fierce pride in their home and heritage.
Davao is part of the East Asian Growth Area, a regional economic-cooperation initiative in Southeast Asia, ranked 87th among the world's fastest-growing cities by the City Mayors Foundation, based in London and Freiburg, Germany.
Davao City serves as the main trade, commerce, and industry hub of Mindanao and is also one of the financial hubs of Mindanao. The Davao Gulf provides a living for many fishermen. Some of the fish products include yellow fin tuna, brackish water milkfish, mudfish, shrimp and crab. More than half of the city's land area,is devoted for agricultural purposes. Bearing the nickname as the "Fruit Basket of the Philippines".
There are 31 hospitals and tertiary centers in the city. Davao has been praised by the World Health Organization for its smoke-free policy since 2002.
The city government provides free education at the primary (grade school) and secondary (high school) levels at public institutions. Currently, as sanctioned by the Department of Education, all primary and secondary institutions in the city use the K-12 educational system. The city currently hosts five universities.
The influx of foreign visitors and the presence of expatriates and migrants in the city have prompted the governments of Japan, Palau, Malaysia, Indonesia and the United States to open consular offices in the city. An honorary consulate of the Czech Republic was also established. The U.S. Embassy in the Philippines opened a virtual consulate, where inquiries regarding visas, foreign-relations concerns and travel to the United States can be made by e-mail and chat. The virtual consulate is maintained in coordination with Ateneo de Davao University, University of Mindanao, University of the Immaculate Conception, Holy Cross of Davao College and AMA Computer College.
The region is strategically situated outside the typhoon belt, making for relatively consistent weather throughout the year.
Davao is connected to Manila by roll-on/roll-off inter-island ferries. The city is served by domestic passenger ferries at Sasa International Seaport and Santa Ana Wharf, the international seaports of the Port of Davao, the busiest port in Mindanao.[30] The port is capable of servicing inter-island and international shipments. It is located in Davao Gulf and has two approaches, one at Pakiputan Strait between Davao and western Samal Island.
Davao City is the regional center, and its Francisco Bangoy International Airport is the third busiest airport in the country.It has direct flights to major Philippine cities and Singapore.
Samal Island
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The Philippines is fast developing into a choice retirement destination. For retirees who are still active, the appeal lies in the fact that they can look forward to continuing, and even improving their lifestyle, at the fraction of a cost it will take in their home country.
There are more other reasons to Smile at life in the philippines. Find out the top 9 reasons why foreign nationals who choose to retire in the Philippines are increasing... and why you should, too!
1. Affordable Cost of Living
The cost of living in the Philippines is indeed very affordable. It is one of the main reasons why more and more retirees move to the Philippines.
The monthly expenses for housing, food, transportation and even labor costs anywhere in the Philippines are quite reasonable and affordable for most retirees that allow them to stretch their pensions and savings. With a pension of $3000 each month,a foreign retirees enjoy a favorable currency exchange rate. On an average, a retiree can live very comfortably in the Philippines at US$2,000 per month in a fully furnished home complete with a household helper. The average monthly rate of a three-bedroom apartment, townhouse, or bungalow house in the suburb will cost you around $150 to $200. A live-in house helper has on average a monthly salary of $90.
For groceries it will only cost a retiree an average of $50 to 70$. Electricity, water and gas will only cost you on average around $100 a month.
The low transportation cost in the Philippines is very reasonable. You can get a second-hand car in good running condition for at least $5,000. You may choose not to buy a car if you will live in big city where public transportation is easily available.
Grocery Store in Makati
2. Filipino Hospitality
Filipinos are renowned for their hospitality. They are among the most hospitable races on Earth. Part of the Filipino culture is to always treat their guests warmly. Filipinos’ are friendly, cheerfull and compassionate, qualities that will make retiring in the Philippines truly feel like one has found a second home. They are a happy people, and have consistently rated among the top in every happiness index conducted.
Warm Smile from Mt. Apo
3. World-Class Medical and Health Facilities
Retirees are naturally concerned about their health-keeping healthy will help them enjoy their retirement to the fullest. Medical care in the Philippines is primarily Western in its philosophy, methods and approaches. Filipino Doctors receive the best education and training in establish institution in Asia, US and Europe, and affiliated with international medical associations.. Nurses, and other healthcare professionals natural friendliness and competence are sought all over the world and would be comforting to every retiree who needs compassionate care, hence, retirees are assured that they will receive reliable health and wellness support from Filipino medical practitioners.
Medical costs are much less, and the cost of hospital services in the Philippines is cheaper than services in the US. Despite the low-cost medical services, hospitals and healthcare providers ensure high level quality health products and services. Pharmacies are easily accessible and most medications can be easily bought.
Wellness facilities and spa centers also abound in the Philippines. They offer massage therapy, acupuncture, and other natural and alternative treatments and practices that aim to restore vitality and promote relaxation and good health. Majority of these health and wellness facilities are managed by medical doctors who underwent training on Western and Oriental medicine.
Asian Hospital and Medical Center
4. Tropical Climate
Located just below the equator, the Philippines has a "Tropical Rainforest Climate" all over the country, with both a rainy and a dry season. The temperature is generally fair throughout the year. The almost-perfect weather and ample sunshine is very appealing to retired foreigners who are tired of the cold and grey seasons.
During the months of March to May, it is summer in the Philippines, which makes the weather warm and humid with, approximately 77% humidity level. The monsoon season on the contrary, it is rainy from June to October, while it is cold but dry during the months of November to February. January is the coldest month and has lower humidity with good sea breeze. The average temperature during the entire year ranges from 78°F to 90°F.
Bohol Beach Club
5. Language and Communication
Communicating with Filipinos will never be an issue. English is one of two official languages in the Philippines. Almost every Filipino can speak the English language with confidence, making the transition to this country and getting around very easy. The Philippines is known as the third largest English-speaking nation.
You can easily find an English interpreter around the country. if you do not know how to speak English, there are also a lot of language schools that offer courses English as second language, where you can enroll and learn the English or Filipino language.
International School Manila
6. Abundant Outdoor Activities and Attractive Eco-Tourism Destinations.
The Philippines is considered one of the world’s best ecotourism destinations. And why not when we are blessed with vast pastoral lands and lush mountains, extensive coastlines ringed by unspoiled beaches, and deepblue waters offering about 40,000 square kilometers of coral reefs teeming with marine life. Its rich biodiversity and natural wonders will bring you closer to Mother Nature.
There are some superb wilderness areas in the Philippines and dozens of volcanoes and mountains to be climbed, from the tallest in the country, Mount Apo (2954m), to more manageable peaks close to Manila in Batangas and Rizal provinces, some of which can be tackled in a day-trip. The country also offers opportunities for caving, whitewater rafting, surfing and sailing. When it comes to sport, basketball and boxing are among the biggest passions in the Philippines.
From the white sand of famous Boracay Island to the stunning hills of Tagaytay, the Philippines has thousands of islands for one to explore this tropical paradise. If you love the outdoors and want to live in cooler places, it is best to stay in the beautiful hills of Tagaytay City, Baguio City, or Sagada in Mountain Province.
Do you love to surf? You should not miss the giant waves of Siargao Island, Catanduanes, Pundakit, and Baler!
For those less adventurous, even just strolling on the beach daily is worth moving to the Philippines for.
E.A.T Danao stands for Eco/Extreme/Educational Adventure Tour Danao. It is the newest tourism attraction in Bohol.
A retiree playing Gateball in open space in Divisoria
7. Modern Conveniences
The Philippines provides retirees with all the basic necessities and conveniences of modern living. From large malls to modern transportation, to the Internet and other high-tech telecommunications network, to contemporary forms of entertainment like Hollywood movies to cable TV channels that include programs from around the world-the retiree would never feel cut-off from the rest of the world and modern life.
Retirees from other countries can keep themselves updated with what is happening around the world through the constantly improving telecommunication facilities in the Philippines. They can keep in touch with their family, friends, and relatives across the globe with high speed internet connections and mobile phones.
With the modern and developing technology in the Philippines, foreign nationals who chose to retire in the country will never feel isolated from the rest of the world.
Makati Central Business District
8. Diverse Cuisine
The Philippines offers incredibly diverse gastromony. The food has mainly Spanish and Chinese overtures but over the centuries has also adaptedto the flavors of the cultures that have come in contact with Filipinos, including American, Chinese, Japanese, Indian, Arabic and Southeast Asia. One thing that many people who have lived in the Philippines and then moved away constantly say is how much they miss the food. Besides the local cuisine, the Philippines also has restaurants offering authentic dishes that will definitely satisfy foreign palates.
Sinugbang Saang (Grilled Spider Shell)
9. Governement Support
The collaborative effort of the Philippine Government and the private sector, the Philippines was put on the map as the ideal place to retire. The declaration of the governement that Philippine retirement Industry as a key Flagship Project to be led by the private sector with strong support from the government, set the stage to revitalize Private sector led retirement industry. Aside from Memorandum of Agreement signe with the private sector, the Philippine government earmarked to expand major infrastructures including maritime hi way, additional airports and national roads which is vital for the Philippines to effectively compete with its ASEAn neigbors.
