Australia has been named the world’s most expensive country for the fourth consecutive year, while the United States remains the cheapest developed country.
This year, the USD’s strength has significantly narrowed the gap between Australia and the United States, Deutsche Bank said in its fourth annual Mapping the World’s Prices report. Australians pay $1.12 AUD for what Americans can obtain for US$1.
Public transport costs more in Australia [Sydney and Melbourne] than anywhere else, and so does purchasing a pack of cigarettes. New Zealand was named the second most expensive country in the world, as its currency nears parity with the AUD and the United Kingdom occupied the third position.
Sydney was ranked as one of the world’s most expensive places for a weekend getaway, mostly due to exorbitant hotel room prices. A five-star hotel room in Sydney is more than twice the price of one in New York. Melbourne, on the other hand, costs about 70 per cent as much as the Big Apple.
In the United States you will find the cheapest iPhone 6, while German MBA programs’ fees are “a third of U.S. levels but salaries offered to graduates are 80-85 per cent of U.S. levels.” Although gym memberships are not expensive in Australia, a pair of trainers is more expensive, although not as costly as in France and Germany.