49% of Filipinos say they are better off post-pandemic – survey

By Filane Mikee Cervantes, Philippine News Agency

FILE: “Christmas by the Lake” launches at TLC Park in Lower Bicutan, Taguig City on Saturday (Nov. 30, 2024). (PNA photo by Robert Oswald Alfiler)

MANILA – Almost half of Filipinos feel better off economically now compared to before the Covid-19 pandemic, according to the report entitled “Cost of Living Monitor” by market research company Ipsos.

The survey, conducted from Oct.

25 to Nov. 9, revealed that 49 percent of Filipinos reported an improvement in their financial situation compared to early 2020 or before the Covid-19 pandemic stopped global economic activity.

Of those who felt they were in an improved situation, 17 percent said they were “much better off,” while 32 percent said they were “little better off.”

The Ipsos survey polled 22,720 participants across 32 countries, including 500 from the Philippines.

This optimistic outlook in the Philippines exceeds the global average of 37 percent.

Ipsos noted that 37 percent across 32 countries said they are worse off than before the pandemic — a sentiment felt across all Group of Seven (G7) countries including Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.

In the Philippines, 17 percent said they are “a little worse off” post-pandemic, while 7 percent described their situation as “much worse off”.

Additionally, 25 percent said they are neither better nor worse off than before the pandemic.

In terms of managing personal finances, the survey showed that 37 percent of respondents in the Philippines reported they are “doing alright”, while 26 percent are “just about getting by”.

It said 9 percent indicated they were “living comfortably.” However, 29 percent admitted finding it “quite difficult” or “very difficult” to manage financially.

When asked about inflation, 44 percent of Filipinos expect it will take over a year to stabilize.

Twenty-seven percent believe inflation will take more than a year to normalize, while 28 percent believe it will never normalize.