THE BIG MAC INDEX 2024 TABLE – THE ECONOMIST
The Big Mac Index 2024 Table by The Economist. Complete Big Mac Index chart by The Economist January 2024 graph.
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THE BIG MAC INDEX 2024 TABLE – THE ECONOMIST
You told us: the Big Mac Index scrolling table on The Economist website sucks big time.
That’s why you can find above the same Big Mac Index 2024 table but with no scrolling.
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THE 2024 BIG MAC INDEX CHART – THE ECONOMIST
Big Mac Index 2024 The Economist table chart
Marketers are comparing this table with > The Big Mac Index table 2023, 2022 and 2021
WHAT IS THE BIG MAC INDEX?
The Big Mac index tries to show whether countries’ currencies are at their correct level by comparing the price of a McDonald’s Big Mac in different countries. In order to get purchasing power parity (PPP), a currency value should move towards the exchange rate that would equalise the price of a Big Mac hamburger in the USA.
Related: The new McDonalds’ logo PNG
THE TOP BIG MAC INDEX ALTERNATIVES
- A Bread loaf. Some countries do not really eat that much bread so it won’t work as well as the Big Mac.
- An iPhone 7. The iPhone 7 is currently the most used phone in the world, however, as it is an old model, prices fluctuate depending on where you buy it: Facebook marketplace, black markets, etc. It will not work as well as the Big Mac.
- A Starbucks coffee cup. A cup of coffee from Starbucks is a similar item but it will not dethrone the famous Big Mac index.
Marketers are comparing this table with > The Big Mac Index table 2022 and 2021
Conclusion
The Big Mac index can offer marketers a good insight to take into consideration when crafting their pricing strategies when crafting the best go-to-market strategy template.
If you are an Australian company planning to launch a product or service in a country with an overvalued exchange rate (i.e. The U.S.A), you could deduct that the overall costs for selling to American consumers will be higher than in Australia while you will also have room to charge higher to them.
On the contrary, you may decide to sell your Australian goods in a country with an undervalued exchange rate as long as the predicted demand (quantity sold) for your product is far higher than the exchange rate disparity. That could be the reason why McDonald’s USA continues selling Big Macs in undervalued currency markets as the demand (quantity sold) is bigger than in the domestic market (USA) while potentially maintaining or even increasing profit margins.
Surely there are many factors that affect the disparities on this Big Mac index such as the costs of labour, price of ingredients, rental, logistics, security, taxes, inflation, etc.
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THE BIG MAC INDEX TABLE 2024 – THE ECONOMIST
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