It is essential to consider the cost of living in a foreign country, especially when one plans to relocate for a job and save money. Furthermore, relocating to a new country could be tricky. As much as possible, the job opportunities available should offer a lower cost of living or at least a salary that will allow one to bank more money relative from one’s origin.
Oman, among the countries with the highest population of Overseas Filipino Workers or OFWs, offers a wide range of jobs. However, one should look further at the cost of living in Oman compared to the Philippines to have an idea of whether or not one’s relocation will be profitable. As such, the cost of living between Oman and the Philippines will be compared so that one may decide accordingly.
How Much Does it Cost to Live in Oman? Expenses to Consider
Filipino workers migrate to other countries in search of a higher paying job. In the Philippines, the average monthly salary amounts to about ₱ 15, 000. On the other hand, Oman offers an average monthly wage of about ₱ 70, 000. In terms of percentages, Oman offers nearly a 467% increase in salary. There are likewise many other parameters to be considered as the cost of living in Oman is different from the Philippines.
The monthly rent in Oman may range from ₱20, 000 to ₱55,000. The price will likewise depend on the location of the apartment, whether it is near the city center or not. A massive chunk of one’s salary in Oman generally goes to rent. Additionally, rents are paid yearly and not monthly compared to the Philippines. Furthermore, the monthly rent prices in the Philippines is 56% lower, but compared to the average monthly salary in Oman, the average rent prices are relatively sound.
3. Food Prices
Another vital parameter to consider when relocating for a job is food prices. While the consumer prices in the Philippines are about 32% lower than in Oman, the difference in the monthly salary makes up for it. There are likewise many products that have similar prices in Oman and the Philippines. Among these products are milk, bread, fruits, and vegetables. In general, eating in Oman is cheap. It can even be more affordable when one sticks to a budget and avoids eating out.
4. Purchasing Power
Purchasing power is the value of one’s money with regards to the goods or services one may avail. Among all parameters discussed, this is the most important one as it may determine the degree by which one may live a comfortable life and save at the same time. The purchasing power in the Philippines is lower than that of Oman. It is about 68% lower than in Oman. This means that the number of goods or services that could be availed in the Philippines is significantly lower compared to Oman. Furthermore, the purchasing power in a country is also an indication of the economy. When the purchasing power in a country lowers, inflation dictates that the price of consumer goods will rise.
The cost of living in Oman compared to the Philippines may be higher, but the purchasing power and consumer prices are relatively more stable. To cut it short, while the prices of consumer goods in Oman may be higher, they also receive a higher salary which may even be about 467% higher than the average monthly wage in the Philippines. Thus, a Filipino worker may expect to find job opportunities that will allow him or her to save up for the future.