Last Sunday on the Weekend Breakfast Show (702/CapeTalk), Sam Cowen cornered me to please give her some good news against the backdrop our our ailing economy. I struggled for an answer and left Sam, Africa and our Sunday listeners hanging.
I set out this week digging deep and, with tongue in cheek, and managed to find 3 bits of good news which we can revel in compared to other countries.
We pay less for petrol The price for a litre of petrol differs across many countries in Dollar terms. The highest price is found in Hong Kong where a litre costs $1,74 or R24,88 compared to our current pump price which is less than half. The cheapest price is in found in Saudi Arabia at $0,15 or RR2,14.
We pay less for a Big Mac The Bic Mac index is rated as a simplified indicator of a country’s individual purchasing power. It compares each country’s Big Mac prices. As many countries have different currencies, the standardised Big Mac prices are calculated by converting the average national Big Mac prices with the latest exchange rate to U.S. dollars.
The Big Mac in SA costs the equivalent of $2.09 (R29,89) compared to Switzerland where it will cost you $6.82. (R97,53). The cheapest Big Mac in Dollar terms is found in Venezuela where it costs $0.67 (R9,58).
We pay less for liquor On a scale representing 313 countries the cheapest alcohol is found in Guinea and the most expensive place is Singapore. South Africa ranks the 86th cheapest country in the world to buy alcohol.
These 3 comparisons give us some comfort that South Africa is still a a great place to be in spite of our ailing economy. You can drive to get and a Big Mac and a glass of wine cheaper than most countries. Yes, of course, if you venture abroad be prepared to suffer the cost due to the weak rand. However, solace is found in enjoying our local cost of living which makes our country still one of the more affordable places to be on the planet.
So there you are, Sam. Some good news……