![]() Likewise, Venezuela has been hit hardest by the falling oil prices.Norway, whose currency has been hit hard by the falling oil prices, shows the greatest drop in this group. However, the economic crisis in Europe in general, moved the cost of living in these countries much closer to that of the U.S. As before, Switzerland, Sweden, and Norway remain the most expensive countries with the cost of living (price of Big Mac) up to 50% higher than in the U.S.The chart below provides a comparison of how much a Big Mac costs in different countries, as of Januexchange rates. The advantage of using this product as a reference point is that McDonald’s offers Big Macs virtually in all countries and in most locations the burger is made using local ingredients and served by local staff, which allows to minimize the effects of transportation cost, import tariffs, and other external factors. The Big Mac Index allows to gauge the cost of living in different countries by comparing the price of a Big Mac. ![]() The 2016 Big Mac Index has just been published by the Economist. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |