Purchasing Power
To compare what you get for your money in different countries and cities, is an interesting thing to do. UBS publishes every third year since 1970 a report, where they investigate the differences. In August 2009 they released their latest “Prices and earnings report”. On page 11 in the report you’ll find a very specific index where you’ll learn how many minutes you have to work before you can afford a Big Mac, 1 kg of bread or rice or an iPod nano. The Economist published an article from the report regarding the alternative Big Mac index.
Just look at the figures and reflect upon the huge differences there are…