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How much does a BigMac cost?

ysabel

/ˈɪzəˌbɛl/ pink 5
Ever heard of the Big Mac index?

"It is arguably the world's most accurate financial indicator to be based on a fast-food item. "

Big Mac index: exchange-rate theory | The Economist

On more technical terms:

The Big Mac Index or Burgernomics is based on the theory of purchasing-power parity, the notion that a dollar should buy the same amount in all countries. Thus in the long run, the exchange rate between two countries should move towards the rate that equalises the prices of an identical basket of goods and services in each country. Our "basket" is a McDonald's Big Mac, which is produced in about 120 countries. The Big Mac PPP is the exchange rate that would mean hamburgers cost the same in America as abroad. Comparing actual exchange rates with PPPs indicates whether a currency is under- or overvalued.​


On more practical terms, it's usually what travelers can use as indication which places are expensive. The more expensive the BigMac is (converted to local currency), the more expensive it is to travel there. :lol:

So how much does it cost in yours? And have you ever thought of these things when you go out of your city (price differences of same products)?
 

Rebeccaaa

yellow 4!
That's interesting, actually. And to be honest I wouldn't mind testing out the prices of big macs in every country I visit. For research purposes of course. :p

The technical terms hurt my head a little bit, but I do like the word 'Burgernomics'. lol

Personally, I have never really given it much thought. I don't even know how much a big mac costs here off the top of my head, but I'll go check online...

£3.60ish for a BM meal, apparently.

There even a wiki page on it: Big Mac Index - Wikipedia, the free encyclopedia

Some fun figures:

Five most expensive (22 July 2010) (not considering the fact that the buyer's equivalent minimum wage, and so his purchasing power, is different)

  1. Norway - USD 7.20
  2. Sweden - USD 6.56
  3. Switzerland - USD 6.19
  4. Brazil - USD 4.91
  5. Denmark - USD 4.90

Five most affordable (22 July 2010) (not considering the fact that the buyer's equivalent minimum wage, and so his purchasing power, is different)

  1. Ukraine - USD 1.84
  2. Hong Kong - USD 1.90
  3. China, People's Republic of - USD 1.95
  4. Thailand - USD 2.17
  5. Egypt - USD 2.23
 

ysabel

/ˈɪzəˌbɛl/ pink 5
Five most affordable (22 July 2010) (not considering the fact that the buyer's equivalent minimum wage, and so his purchasing power, is different)

  1. Ukraine - USD 1.84
  2. Hong Kong - USD 1.90
  3. China, People's Republic of - USD 1.95
  4. Thailand - USD 2.17
  5. Egypt - USD 2.23
And that's where we get our products cheaply!

It's 3.40€ here but not the meal. I think our meal might even be more expensive than there...it couldn't be right haha.

I didn't really think of comparing prices before but I did notice that when I travel, even locally, the sign of civilisation is having at least one McDonald's restaurant.
 
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