original article:
http://www.dvorak.org/blog/?p=6557

Tokyo tops the ‘Big Mac’ index — USA NOT Number One

Residents of Tokyo have the highest purchasing power in the world, edging out people in Los Angeles, Sydney, London and Toronto, according to a new survey by the Swiss banking giant UBS that uses the “Big Mac” as its benchmark.

“Wages only become meaningful in relation to prices — that is, what can be bought with the money earned,” it said.

The bank calculated the “weighted net hourly wage in 14 professions” and divided it into the local price of “a globally available product,” for which it chose McDonald’s flagship hamburger.

“On a global average, 35 minutes of work buys a Big Mac,” it said. “But the disparities are huge: in Nairobi, 1 1/2 hours’ work is needed to buy the burger with the net hourly wage there. In the U.S. cities of Los Angeles, New York, Chicago and Miami, a maximum of 13 minutes’ labor is needed.”

In Tokyo, it takes a mere 10 minutes. Bogota, Colombia, came in last among the 70 cities surveyed at 97 minutes.

Of course, you should add the cost of having your arteries defatted every 20 years or so.