The Big Mac index is open to criticism as it is unable to take certain factors that may result in the price of a Big Mac fluctuating between countries. In theory, the result should correlate to the ranking of average world wages adjusted for PPP. In attempting to include wage differentials rankings that seek to measure how fast one can earn the money required to purchase a Big Mac incorporate average wages. The index gained global attention among economists and other analysts of global economic conditions due to its relative degree of accuracy in predicting purchasing power parity among countries.
The Big Mac index is a tongue-in-cheek measure of purchasing power parity (PPP) created by The Economist. The average wages garnered in select countries around the world based on purchasing power can be accessed here.Īdditional information on the Big Mac Index In Nairobi, the average worker had to work for about 133.8 minutes to be able to purchase a Big Mac. This statistic shows the average working time required to buy one Big Mac in selected cities around the world in 2018.
