#Cost of a big mac 2015 mac

The Economist also uses a вЂњgratifyingly simpleвЂќ way of calculating purchasing-power parity by using the price of a Big Mac.В According to the January 2019 Big Mac Index External link, the Swiss must pay $6.45 for the same burger that would cost $5.58 in the United States, meaning the franc was overvalued by 18.7%. On average, total household consumption expenditure in Switzerland is around 60 percentage points higher than the European Union average, according to Eurostat figures External link.Дespite those expenses, some of the highest salaries in the world mean the inhabitants of Zurich and Geneva enjoy considerable purchasing power: they rank second and fourth worldwide on this indicator, sandwiched by Los Angeles and Miami, UBS found.ДЄs a comparison, whereas a worker in Cairo, Egypt, would have to spend some 133 working days before being able to buy the latest iPhone, a worker in Zurich only has to wait 4.7 days, UBS says. In these cities, rent on a small apartment of two bedrooms can easily exceed $2,000 per month, while compulsory health insurance (at least $335 per month), transport costs (average $468 per month) and groceries (average $458 for a single person) quickly chip away at your salary. But do the people earning a Swiss wage see these sky-high costs the same way?ДЄ study by the UBS bank published in May 2018 found that Zurich and Geneva top the list of the worldвЂ™s most costly cities, ahead of Oslo, Copenhagen, and New York.

This content was published on Aug 21, 2020Switzerland is eye-wateringly pricey. But if youre new to this quick and dirty but useful method of measuring the relative values of global currencies, then heres the basic idea.