P500 would get 5 single orders of Big Mac’s in Malaysia, the most in any ASEAN country. With the brand’s commitment to consistency, this means that the same item, which consists of the same ingredients, is made the same way – all in different economies.Īs a consumer, the Big Mac Index can be a nifty tool to measure just how far your money will go for in other countries. The burger was chosen as a tool of measurement as it is an item available in all McDonald’s stores worldwide. PPP is tool used to compare different countries’ currencies through an identical basket of goods-in this case, a Big Mac. Introduced in 1986, The Economist started the “Big Mac Index” as an informal or even humorous tool that provides a tangible measure of purchasing power parity (PPP). The iconic golden arches of McDonald’s has yet to set up shop in Cambodia, Lao PDR, and Myanmar. The McDonald’s staple is cheapest in Malaysia where a single order costs around P90. In Thailand, one would have to pay P172, whereas if one were in Indonesia, it would cost about P115 to buy the item.Ī Big Mac is roughly the same price in Vietnam as it is in the Philippines, where the burger goes for P132 and P133, respectively. Next to Brunei, a Big Mac would cost the most in Singapore where the treat is almost P200.
Using local prices collected from the Big Mac Index and converting this into its peso-equivalent, a Big Mac would cost the most in Brunei, where one would have to pay about P245 for a single burger. Aside from being a global favorite, the staple fast-food item is also a tool used to measure the purchasing power of a country’s currency. In February, the dollar-peso exchange rate stood at P50.25 to the dollar, with the most recent figure at P49.8 to the dollar, according to the Bangko Sentral ng Pilipinas.īut what might this look like to the average consumer?įor starters, we could take a look at a McDonald’s Big Mac, an item available in every McDonald’s store worldwide. MANILA, Philippines – Recent months have seen the peso hit a 10-year low against the US dollar.
0 kommentar(er)
