With all the negativity around our struggling economy we still fair better than many other countries across the globe. Although a bit tongue in cheek these comparisons do shine some light on the upsides of our cost of living in South Africa.
The price of petrol All countries have access to the same petroleum prices of international markets but then decide to impose different taxes. As a result, the retail price of gasoline is different.
Price per litre of petrol Average of all countries – $1,12
SA – in spite of the taxes applied – $1,07
Oil producing countries – pay much less Venezuela – $0,02 – Emirates – $0,54
Hong Kong – the most expensive – $2,47
US – the biggest consumer – $0,84
The Big Mac Index
The index aims to give an idea of how purchasing power parity compares across countries.The idea being that the same components come into play to make a Big Mac. So there is reliance to price.
Switzerland – the most expensive – $7,29
US – where it originates – $5,66
South Africa – in spite of our high taxes – $2,16
Lebanon- the cheapest – $1,77
So, based on this index the Rand is undervalued by 61,9%.
Wine Prices World Wide
A comparison of mid range wines across the world show that SA is cheaper than most countries by far.
Quatar – the most expensive – $24,72
South Africa – the one of the cheapest – $5,09
Iran – the cheapest – $1,20
So from this somewhat superficial info we can still get a sense that South Africa still offers value being one of the cheaper places in the world where you can drive and get a Big Mac with a glass of wine.
#Imstaying