What’s the price of happiness? This study by Remitly revealed the cost.
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The digital financial services provider revealed that Filipinos need to earn an annual income of $29,574 to achieve a meaningful improvement in their well-being while also feeling emotionally fulfilled. In peso terms, an average Filipino worker must earn around ₱151,000 monthly (or ₱1,820,000 annually) to feel financially secure and satisfied with their quality of life.
For them to be able to come up with this amount, they analyzed Purdue’s figures and adjusted them based on inflation and current purchasing power.
In a previous study conducted in 2024, Filipinos need ₱130,000 a month (or around ₱1,560,000 annually) to be happy.
These figures may seem like a far-fetched reality for most Filipinos, as an average Filipino worker living in the National Capital Region (NCR) earns a minimum wage of ₱658 to ₱695 per day, while provincial rates vary and are usually lower than NCR rates.
Furthermore, the peso’s purchasing power has weakened. In April 2026, the purchasing power of ₱1 is now at 0.73 centavos, based on 2018 prices.
Here are the top five most expensive countries with the highest price of happiness:
- Iceland: $163,579
- Australia: $161.302
- Switzerland: $154,504
- New Zealand: $137,361
- USA: $134,827
Here are the top five least expensive countries with the lowest price of happiness:
- Ethiopia: $10,176
- Nigeria: $12,273
- Rwanda: $13,566
- Mauritania: $14,732
- Bolivia: $15,156
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