The most expensive countries in the world on the Big Mac index for 2016
In the previous ranking, we talked about the countries with the lowest index of the Big Mac, i.e.price in different countries on a bun from McDonald's, cut into three parts( the topmost part is topped with sesame seeds), two cutlets weighing about 50( ± 10) grams each, one small piece of cheese, two pieces of pickled cucumber, onion, lettuce and sauce. The price of this popular fast-food product shows how undervalued or overvalued is the currency of a country in relation to the US dollar. This comparison is correct only when comparing countries with a similar level of economic development, for example, when comparing the US with countries of Western Europe or Japan. About these countries and will be discussed in this ranking, which presents the top 10 countries with the highest index of the Big Mac. These countries can be called the most expensive countries in the world in January 2016( the study, from which the data given below, is published on the site of economist.com on January 9, 2016).
A map from economist.com, where different countries painted different countries with different levels of the Big Mac index. The US and the comparable countries are yellow, and the cheapest ones are bright red. Gray indicates the countries for which data was not taken into account.
10 place. The countries of the Eurozone. This concept should not be confused with the EU, becausenot in all EU countries, the euro is the official currency. In the countries of the Eurozone, the largest of which is Germany, the cost of the Big Mac is 3.72 euros, i.е.$ 4.
9 place. Costa Rica. This country is the only one of the top 10 index of the Big Mac, which can not be attributed to highly developed economically. So in this case, the Big Mac index reflects not the level of economic development, but a high level of prices in the country. The price of the Big Mac is 2150 colones / $ 4.02.
8 place. Canada. The price of the Big Mac is 5.84 Canadian dollars / $ 4.14.
7 place. United Kingdom. The price of the Big Mac is 2.89 pounds / $ 4.22.
6 place. Israel. The price of the Big Mac is 16.90 shekels / $ 4.29.
5 place. Denmark. The cost of the Big Mac is 30 DKK / $ 4.32.
4 place. USA.The cost of the Big Mac is $ 4.93.
3 place. Norway. The cost of the Big Mac is 46.80 NOK / $ 5.21.
2 place. Sweden. The cost of the Big Mac is 45 SEK / $ 5.23.
1 place. Switzerland. The cost of the Big Mac is 6.5 Swiss francs / $ 6.44.
As we can see, Japan did not get into the top 10.This happened due to the underestimation of the yen's exchange rate against the dollar( according to economist.com this underestimation is 36.7%).Now the cost of the Big Mac in the Land of the Rising Sun is 370 yen, which is $ 3.12.Japan in the index of Big Mac takes only the 20th place in the world, only one position ahead of Thailand.