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Is the Weakening Dollar Good for Pinoy Tech?

Abe wrote about how the weakening dollar is bad for probloggers. Likewise, it would be bad for people who earn in dollars: freelancers and contractors, other people who earn online, and the much talked-about case of the OFWs. It also affects outsourcing companies whose contracts are fixed in dollars.

But, it’s good for tech too. The obvious case: buying imported things in dollars is cheaper. This includes capital equipment, services (like hosting), and… gadgets! Many tech exporters export things that have imported raw materials: our people are the value-add.

This got me thinking even more: Exchange Rate and Silicon Valley. This talks about Silicon Valley competitiveness, but also relates to Pinoy tech startups as well. With a weaker dollar, it is now cheaper for a wealthy Pinoy to invest in SV – while the “Philippines Silicon Valley” is still far off. This can enable some of the work to be offshored.

Another benefit is cheaper living expenses when visiting the US (and perhaps travel too – but then this is related to oil prices.) Perhaps more people can check the Silicon Valley scene, make deals, and bring projects home!

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  • Since Paypal Philippines has full access to account withdrawals, I’ve been receiving the dollars from blogging. Taking caution about the peso-dollar trend during the holiday season, I will not withdraw my dollars from my Paypal account until next year. 😀

    Blogging is like Exporting your services to those companies abroad. So the effect that the weakening dollar has on Exporting has the same trend with blogging. (If you’re getting paid from abroad) 😉

  • Just have to find the bright side in everything. Now everyone buy an ipod!

  • It’s good to see that someone else sees the situation in a more positive angle.

    As usual, bloggers who take it too serious could get annoyingly whiny. Sometimes you want to slap them with a big trout.

  • Neo_Luffy

    I have nothing to say, you mentioned it all, hehe

  • Great post! 😉

    I never thought buying gadgets would be cheaper. Might as well buy gadgets from the money i earned from blogging.hehe

    But will it compensate much of the freight cost?

    hmmmmm. . .