That’s the way the money goes worldwide

That’s the way the money goes worldwide

BIG MAC: Same the world over Photo credit: CC/Go Ikeda

A Big Mac is a good price guide for telling you how far your euros will go when travelling abroad.

Speaking to Belgium’s VRT broadcaster, Belgian financial expert Chris Sugira said that a McDonald’s Big Mac is made in the same way with the same ingredients worldwide, but it does not cost the same owing to differently-priced ingredients, the cost of living and inflation.

“In Europe, a Big Mac costs around €5, but in Taiwan you pay just over €2,” Sugira pointed out. “This shows that €5 in Taiwan is worth more than €5 in Europe, giving you more or less of an idea of how much euros are worth in another country.”

He went on to explain that the Big Mac Index or Citizennomics was formulated by UK magazine The Economist in 1986 as a way of measuring and comparing purchasing power between currencies.

It is updated twice yearly and can be consulted on The Economist’s website.

So where will you pay most for a Big Mac?

It is currently priciest in Switzerland, according to the January 2024 Big Mac Index, and costs €7.  Taiwan where it sells for the equivalent of €2.2, is the cheapest.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca province and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.

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