Tuesday, August 29, 2006
Low cost of living cited as Metro Manila's redeeming edge
IT IS NOW official. Whether one stays for a few weeks as tourist, or an expatriate works in Metro Manila, living here is still one of the cheapest in the world.
The confirmation was recently made by the Swiss banking giant UBS after it made cost of living surveys in major cities across the globe.
Earlier, the World Competitiveness Survey ranked the Philippines high in cost of living but no details were made public.
In the UBS survey, it was found that men and women's clothes were much cheaper in Metro Manila than in major cities, including Bangkok in Thailand.
The pricing was made on good quality clothing materials for men and women.
Manila was also determined to be cheaper for short-stay visitors after prices of first class hotels, taxi-fares, fine dinners and other amenities were compared.
The most expensive cities were Oslo, London, Copenhagen, Zurich, Tokyo and New York. (Philexport News and Features/Sunnex)
(August 29, 2006 issue)
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