I have been travelling to the Philippines for the last 20 years. When I first went there with my wife, we were predominantly staying in Manila. What was fairly obvious to me was there were basically two classes of social status, stinking rich or poor.

When we went to her home Province, Illocos Sur it was, for me, like going back 100 years. The poverty was very apparent. I can remember that just to own a tricycle or small motorbike was beyond 95% of the locals.

What amazes me now, particularly in Manila, is the amount of perceived wealth. There are more new cars on the roads on Manila than in my own town of Birmingham. More surprising is that the majority of these cars are gas guzzling, SUV's and 4 x4's. I know fuel is cheaper than the UK, but I would have thought - given the lower salaries in the Philippines - it doesn't make sense to drive these vehicles.

Another sign of change is the amount of condos and new sub divisions (going out to Cavite) that are being built. These are not cheap. I would accept that the condos in Manila carry a premium because of the location. However, the new sub divisions travelling down the SLEX are very expensive - especially for Filipinos.

If we go to a shopping Mall, I have noticed that a cup of coffee in Starbucks costs 180 peso. This is expensive when the average pay in the provinces is 340 peso a day. We have picked up items in SM and put them back on the shelf when we noted the price. The items were cheaper in the UK! It may have something to do with the exchange rate 69 Php/£, but I think there are other factors.

I would add, that when you go out of Manila, prices drop dramatically, although good food in supermarkets is still pricey. Property prices in Manila are very high compared to the Provinces. The other item that seems very high is the price of used cars. In the UK, when a car is 3-5 years' old, it is very cheap, whereas in the Philippines, even a 10-year old banger seems to carry a high price.

Does anyone on the forum think like myself, that there is now a defined 'middle class', and not just the rich or poor? Could it be that the Philippines' growth is maintained on the back of easy credit? Most people have credit cards (which was unheard of 20 years ago). Is the Philippines due a property 'Bubble' burst? I think so, when I see 2 identical condos, one built, the other unfinished and the cranes stationary. I know the biggest earners for the Philippines are overseas workers. However this is now not as easy as before.

Anyone know the answer?