Tourism Inflation in the Philippines: How Rising Costs Impact Travelers
In the last few years, people going to the Philippines have seen big changes in prices for places to stay, ways to travel, and places to eat. This look at costs checks how the Philippine Peso has done against main money types like USD, Euro, and Thai Baht over five years. It also follows price rises in main things tourists spend on. Knowing about these changes can help you plan your budget and set the right hopes for your trip to the Philippines. Also, many things have caused these changes: Labor Shortages: The tourism sector is finding it hard to hire staff. This has led to higher pay and more costs for the service. Rising Operational Costs: The price of things like utilities and supplies is up. Because of this, all businesses in the industry feel the hit. Use of New Tools: Many places are spending money on new tools and systems. They want to make things better for the customer and work faster, but these costs often reach the customer at the end. Sustainability (ESG): A lot of hot...