Wazzup Pilipinas!
The number of foreign retirees in the Philippines is currently 53, 355, according to Bienvenido Chy, the general manager of Philippine Retirement Authority. Many foreign retirees are interested to retire in the Philippines because of low living costs, tropical climate, and friendly locals who speak English fluently. For most individuals, the decision to retire abroad is a difficult one, and it is more difficult to choose where to settle down. Here are some issues you need to think about if you are considering Philippines as a retirement location.
Low cost of living
The cost of living in the Philippines is significantly lower compared to the United States. Consider the fact that rental rates in the Philippines is 79.16% lower than in the US. International Living reported that expats can live a comfortable life in the Philippines spending only $800 to $1200 per month. With the low cost of living in the Philippines, you can also plan for an early retirement. You just need to be disciplined in terms of expenses. In a matter of a few years, you’ll be enjoying the retired life in a tropical paradise.
Lots of adventures
If you have a bucket list, you can be sure to tick things off of it while in the Philippines. You can go diving in the sky or in the sea or go on top of a mountain. The Philippines has a lot of beautiful beaches to offer like Boracay in Aklan or El Nido and Coron in Palawan. If you imagine your retirement life to having drinks and listening to the waves of the beach, then you will surely enjoy living in this country.
Friendly and English-speaking locals
One of the most popular traits of Filipinos is hospitality. They are warm and friendly to everyone who’s visiting their country. They are truly a welcoming bunch of people. You can also communicate easily with the locals because they speak English, as the language is the second official language of the country.
Lack of infrastructure
The Philippines is a developing country which is why the infrastructure like transportation and public utilities might not be as efficient or dependable in your home country. These are all available in the Philippines, except in the remote islands, but they do not function consistently. For example, the trains would sometimes break down due to glitches in the trains’ electrical components. However, there are alternative transportation methods such as cabs or Grab cars, which is similar to Uber and Lyft.
Poor internet connection
From checking our e-mails for work or chatting with family and friends on online messaging applications, it seems that the majority of people’s lives revolve around using the Internet. Surfing the web in the Philippines may be something that needs some getting used to as the global average internet speed is 7.2 Mpbs, while the average internet speed in the country is only 5.5 Mbps. This would mean slow internet speed for people using it, but you can still do your basic surfing activities. In recent months, the government and telecommunications company are working together to significantly improve the speed of internet connection in the country.
The Philippines is a country where you can retire if you want lower cost of living and experiencing new things. If you want a trial, you can opt for a short vacation so that you can determine whether you can spend the rest of your life in the country. It’s up to you to decide whether the pros outweigh the cons of retiring in the Philippines.
Ross is known as the Pambansang Blogger ng Pilipinas - An Information and Communication Technology (ICT) Professional by profession and a Social Media Evangelist by heart.
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