I have traveled there about 6 times, have lots of friends there, and have just bought a house there and I lived in some of the provinces for short periods. 

Lechon (or roast pig) is popular. Roasting a whole pig is a celebratory type of meal and you invite lots of people. Cost will be about $100USD for the pig (feed 20 - 25 people), includes soft drink, beer and the stuff to put inside the pig.

Normal restaurant eating is cheap. Beer is cheap. Accommodation is cheap.

The adobo meals are okay, pork adobo, chicken adobo, pangit, and a host of other stuff. Western food is readily available everywhere. Also cheap. The San Miguel beer is much better than Chinese beer and the Red Horse, like its name, gives you a kick. It's strong beer.

Meals in China are cheaper when comparing them to my city but cheap food is available in Manila and I don't think that's the case in Beijing. Well not the same standard anyway. Rice is staple, noodles are available. I am not a great lover of traditional Filipino dishes but it's an acquired taste I guess.

I can have a cheap meal in the Philippines for 240PHP, about $5 - 6. A real nice meal for 2 of us with drinks and dessert would cost about 900PHP ($22 approx.)

Jollibee's is like McDonalds but McDonalds and Jollibee's is cheaper than in China.

Most people speak English!!!! A real bonus.

Transport is cheap and once you get the hang of the Jeepney system its ridiculously cheap and just as dangerous as a Chinese taxi but heaps more fun because you get to die with lots of others sitting in the back with you!!

The beaches are great and you can choose black sand or yellow sand or white sand beaches. Like most poor Asian countries you need to be aware of scams, rip offs and wandering around in dark, uninviting looking places in the wee hours.

If you decide to go somewhere specific let me know. I may have been there. If you really want to know what's going on there I can recommend a website that may interest you.

EnjoY!

I haven't been myself, but all the people from there I've met have been nice people. I know several who've gone there and only nice words (people from Europe, Asia and US) 

They country can use your tourist money to rebuild. 

Food in the Philippines is extremely diverse and very very good. Especially the seafood. The selection changes a lot depending on the region, and you will never be at a loss for things to try.

The food (the people too; and the environment) made me a bit depressed about going back to China. Yes, yes, Chinese people. I know that all Chinese food is "very delicious" and just soooo diverse. OK, there's something I've been meaning to tell you: Chinese food is actually rather limited in scope, and it gets boring. For a country with "5000 years of history", I'm surprised you are still just throwing chunks of things into water/oil. You really need some basis for comparison here.

Back to the topic: In the popular tourist spots there will be a lot of foreign-owned restaurants where you might pay up to US $20. But even the most low-key local places are really good options.

If you get a chance, go to Bohol. There is a nature reserve with native Tarsiers (so god damn cute), and a lot of good beachside restaurants. While in the remote parts of the Philippines I'd recommend traveling by motorbike. The scenery is amazing, and the local people are just so NICE and happy to be alive. Don't stay in Manilla any longer than necessary. There's not much to do or see there (the food is still good), but the rest of the country is incredible.

Oh yeah. When I was at a restaurant with seating on the beach, a crab escaped from a container and navigated its way across the sand towards freedom. We (a couple from the Netherlands, a French woman, a Korean Boy, and myself) were all admiring its brave escape, and feeling rather companionly about the experience. Then a Chinese man saw what we were watching, went and picked it up and pulled its legs off to impress some Chinese girls. MY HERO.

Oh, and: At one of the hotels I stayed at, I made friends with a Chinese girl. We had agreed to have dinner, but when she got back from diving, she was in a foul mood, and crying intermittently. She had met some Taiwanese people, you see. They told her they were from Taiwan (can you imagine the audacity!). So naturally, she told them they were Chinese. They begged to differ, and told her to stop being such a ____.

Philippines = country, Filipinos = people. I've only been to Manila and Angles, I thought they were sh*t holes from what I saw. But I had a great time, I've never been drunk in China, Philippines different story. I always spend too much so my experience might scare you, spent $2500 pocket money in a week. I was having such a good time that I missed my flight home. Meals averaged about $6, if you learn to eat like a local, it can be cheaper. The locals seem to like rice with every meal. You can easily get bacon and eggs, what a novelty.

The women are more diverse looking and extremely nice, GFE. They even saved me from making the ladyboy mistake, ladyboys are also very nice looking, but more inclined to stab and rob you.

I didn't do enough homework on where to go and I'm going back soon to see Cebu, tour around, find a place to rent and stay for 6 months. Then maybe stay longer with my critters. I want to be King of a head hunter tribe on a north island and live in a grass hut on the beach. The visa for that costs alot more, but I think it's worth it