In truth, although a Big Mac may cost the most in Brunei, Bruneians themselves would still be able to purchase the most number of burgers.Īnd although the item may cost the least in Malaysia, Malaysians would still be able to purchase more burgers than Filipinos with their monthly income. On the other hand, with the monthly minimum wage, according to the Department of Finance, at P12,488 in the National Capital Region, Filipinos would only be able to buy about 93 Big Mac's a month.Ĭonversely, although a Big Mac costs the least in Malaysia at P90, with Malaysian minimum wage at MYR1000 a month, Malaysians themselves could buy up to 125 Big Mac's. With this figure, Bruneians can buy about 256 Big Mac's a month. Though no law mandates a minimum wage in Brunei, according to the United States' department Country Reports on Human Rights, the average monthly income for the private sector in Brunei is BND$ 1830. This means that the Brunei dollar is overvalued against the Philippine peso as Bruneians pay less for the burger compared to Filipinos.īut setting exhange rates aside, who could afford more Big Mac's, Filipinos or Bruneians? Meanwhile, the same amount of money would get you two burgers in Brunei, Thailand, and Singapore – half the order, but with some change to spare.Īssuming the cost of a Big Mac is the equal in different countries, the exhange rate between the peso and one Brunei dollar should be 0.053 however, the current exchange rate is 0.028. P500 would get 5 single orders of Big Mac's in Malaysia, the most in any ASEAN country. P500 will get you 5 Big Mac's in Malaysia but only 2 Big Mac's in Singapore.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. 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. 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. Exchange rates for the countries were BND IDR MYR SGD THB VND 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.ĬOSTLY.
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. The Economist's Big Mac Index uses the tasty McDonald's staple to measure the value of different currencies.