What makes a CGI movie more expensive?

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Is is the software and equipment used; the pay for manpower/graphic artists or some other reason?
more expensive than making an actual dummy of something and shooting it, i guess. I'm conducting a research on how the Philippine movie industry can be in line with the quality CGI movies that hollywood makes. I read on an article that the quality of CGI movies here in the Philippines is a few years behind than that of Hollywood because of their "big bank accounts" or something like that.

What are really needed to come up with a CGI movie?
 
CGI is cheaper than building sets and making live action monsters. That is why it is used so often. Does that not make sense?

Low budget films often use CGI for explosions, monsters and space ships because it's cheaper.
 
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