According to this in Budapest, we need to work for 399 hours to buy an iPhone. They analysed different iPhone and iPad models from the last few years, so they worked with an average price. The first European city on the list is Luxembourg with 13.1 minutes.Īnother aspect of this survey looked at the time we need to spend working in order to buy an iPhone. The first city on the list is Hong Kong, where, by working 11.8 minutes you can already buy a Big Mac. The result is converted into either minutes or hours. UBS took the average price across all sources and divided it by the net hourly wage of 15 professions. In Budapest you have to work 55.6 minutes to buy a Bic Mac. If you take a look at the table that the UBS compiled, Budapest is on the 65th place, out of 77.
The Big Mac index has been published every year by The Economist since 1986 as a simplified indicator of a country’s individual purchasing power. The average price of a Big Mac burger is different in every country, but so are the salaries they pay for an hour. The so-called Big Mac index is an indicator for the purchasing power of an economy. This kind of survey is meant to symbolise the value of our money. They did an international survey, working with average salaries and average prices.įrom all the European cities that were in this survey, seems like the only cities where you would need to work even more for a hamburger than in Budapest is Istanbul and Kiev.
In Budapest, you would need to work for almost an hour to earn enough money to buy a Big Mac, according to the UBS.
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