Like any major city, Manila is a place where you should exercise alertness. There are many poor slum areas where wealthy foreigners stand out as potential targets. The central areas are largely safe; if in doubt, ask your hotel for advice. Never wear valuable jewelry or anything else to broadcast your wealth. Watch out for the popular scam whereupon someone you don't recognize approaches you and pretends to recognize you (e.g., saying they work at your hotel), and then offers to show you around. Con artists try to befriend tourists and then drug and rob them. Be wary of pickpockets in crowded areas. And watch out for the chaotic traffic—accidents are common.
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