Planning to Retire Soon!

If you are planning to retire in the Philippines soon, I suggest you visit several excellent websites on pro's and cons of retiring in the Philippines. However if you want to retire in the provinces, where life is simple, standard of living cheaper, less traffic congestion and pollution, availability of fresh seafood and vegetables compared to the big cities, my island province is the place for you! If this is your first time in my site, welcome. Please do not forget to read the latest national and international news in the right side bar of this blog. Some of the photos and videos on this site, I do not own. However, I have no intention on the infringement of your copyrights. The photo above is the front yard of Chateau Du Mer-Our Retirement Home in Boac, Marinduque, Philippines

Saturday, April 11, 2009

Philippines only mildly affected by Recession


Photo from aseanaffairs.com

I just returned from the Philippines after a 5 months stay at Chateau Du Mer Beach Resort in Marinduque to get away from the winter woes of the United States. I notice that shopping malls and restaurants are busy as usual. The local tourist business is also in high gear. The six air plane flights from Manila to Boracay are always filled with local and foreign tourists. In my province, Marinduque, the newly completed 5 star Bella Rocca Resort and Spa is filled with Korean, Japanese and rich Filipinos( from Manila) tourists since their opening last February. The locals are still buying condos in Manila and surrounding provinces.

So, why is the Philippines only mildly affected from the world economic woes. I believe the banks have no toxic assets. Also the mortgage system in the Philippines is totally different than in US. You can not purchase a house or condo without putting a lot of cash as down payment. There are other reasons, I believe. If you know one, please make a comment in this blog.
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