How come Adsense clicks from other countries pay way less than USA, UK, Canada, Australia?

I noticed yesterday one of my articles got major traffic from the Philippines, most of my traffic comes from the USA my home country and Canada, but I aw the surge in traffic and was amped up thinking it would mean more money on my adsense.

So I log in and I got 2,000 clicks and only made $45.59 yesterday. the CPC was super low at 3 cents or 0.03 per click. with 4 percent CTR

I compared it to another day last month when I got similar click through but higher CPC of 23 cents per click I earned over $230 dollars that day with only 1,240 clicks. at 3.8 CTR

Is the reason countries like the Philippines and India pay so low per click because they are third world countries and most of the people in those countries cannot afford to buy the advertisers offering compared to first world western countries?

submitted by /u/Borange81
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