Cost of living around the world

Cost of living around the world

Feedback Action, Intellectual Capital 0 Comment 9

Although the methodology and data sources can be questioned, it is interesting the comparative view the map gives.

For countries with smaller inequalities, the index is more reliable. For developing and emerging economies, the index loses its accuracy. However, still an interesting point of view.

An interesting map from MoveHub reveals living costs around the world.

Global Living Costs Map

The Consumer Price Index takes into account the cost of groceries, transportation, restaurants and utilities, each containing a number of variables. The cost of groceries, for instance, is made up of the price for meat, bread, rice, eggs, fruits, vegetables and alcohol. The transportation cost includes one-way tickets, monthly passes, taxi fares, petrol prices as well as the prices of a Volkswagen Golf. The restaurant costs comprise of prices for meals in expensive, mid-range and inexpensive restaurants, as well as the prices for coffee products, alcohol and water in restaurants. The utilities costs are determined by the prices for electricity, heating, water and Internet, among the few.

The data was collected by Numbeo, the world’s largest database of user-contributed data on costs and prices around the world.

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Author

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Rudolf Rosas Flunger

Dr. Rudolf Rosas Flunger is an experienced management consultant and business executive. He has a track record of more than 20 years delivering substantial business results ranging from bottom-line improvement to broad organizational transformation. His professional background includes extensive experience in corporate strategy, investments analysis, pricing, sales and distribution and supply chain. Dr. Rudolf Rosas Flunger has broad international experience with a special focus in Latin America as he has worked for clients in Brazil, Argentina, Chile, Colombia, Peru and Venezuela. Additionally, he has been Professor in several Engineering Schools and is an international speaker as well as a member of the IEEE, PMI, System Dynamics Society, INFORMS. Dr. Rosas Flunger holds an Industrial Engineering Degree from UCAB (Caracas) as well as a MSc and PhD in Management Sciences from Université Paris Dauphine (joint program with École Polytechnique and École des Mines de Paris).

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