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Every year, The Economist magazine produces the Big Mac Index to illustrate differences in purchasing power across countries. By comparing the price of a single item, in this case a Big Mac from McDonald's, the index shows how much (or how little) consumers in each country get for their money. According to the latest index, a Big Mac costs an average of $4.56 in the United States, $5.26 in Canada, $5.28 in Brazil, and $6.72 in Switzerland, meaning that residents of those countries get far less for their money than US residents do. Conversely, consumers in Russia only have to pay $2.64 for their Big Mac, while consumers in Turkey pay $4.34 and consumers in India pay only $1.50 of our American dollar?
Go to Yahoo.Finance.com and use the "Currency Converter" at top of page for values against the American dollar.
Using the Big Mac Index to choose a country for you to vacation in, which countries will give you the most value for your American dollar? Which one would you want to visit?
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