This is an interesting change of perspective in looking at the Purchasing Power Parity based on the Economist's Big Mac index.
See previous post Big Mac Index Update: Asia Cheapest, Europe Priciest
It shows the work time required to earn a Big Mac.
According to the Economist,
``THE size of your pay packet may be important, but so is its purchasing power. Helpfully, a UBS report published this week offers a handy guide to how long it takes a worker on the average net wage to earn the price of a Big Mac in 73 cities. Fast-food junkies are best off in Chicago, Toronto and Tokyo, where it takes a mere 12 minutes at work to afford a Big Mac. By contrast, employees must toil for over two hours to earn enough for a burger fix in Mexico City, Jakarta and Nairobi"
Interesting.
See previous post Big Mac Index Update: Asia Cheapest, Europe Priciest
It shows the work time required to earn a Big Mac.
According to the Economist,``THE size of your pay packet may be important, but so is its purchasing power. Helpfully, a UBS report published this week offers a handy guide to how long it takes a worker on the average net wage to earn the price of a Big Mac in 73 cities. Fast-food junkies are best off in Chicago, Toronto and Tokyo, where it takes a mere 12 minutes at work to afford a Big Mac. By contrast, employees must toil for over two hours to earn enough for a burger fix in Mexico City, Jakarta and Nairobi"
Interesting.
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