I've always liked the concept of the big mac index to give a real picture on the value of money when looking at exchange rates. Heres another idea here.
Nice graph there and once again South Africa is fairly comparable to the rest of the world. Not down the bottom as everyone seems to make out.How many minutes to earn the price of a Big Mac?
THE size of your pay packet may be important, but so is its purchasing power. Helpfully, a UBS report published this week offers a handy guide to how long it takes a worker on the average net wage to earn the price of a Big Mac in 73 cities. Fast-food junkies are best off in Chicago, Toronto and Tokyo, where it takes a mere 12 minutes at work to afford a Big Mac. By contrast, employees must toil for over two hours to earn enough for a burger fix in Mexico City, Jakarta and Nairobi.