World’s most expensive country

Australia is the world’s most expensive country for the fourth year running.

World’s most expensive country

Our anthem says “we are young”, but Australia is far from free. In fact, according to a recent report by Deutsche Bank, Australia is, for the fourth year running, the world’s most expensive country.

Titled Mapping The World’s Prices, the report measures world currencies against the US dollar. Featuring global comparisons on the prices of goods, ranging from Big Macs to iPhones, the report found that Australians currently pay $1.12 for items that would cost $1.00 in the United States.

When it comes to public transport, Sydney and Melbourne were ranked as the most expensive cities in the world, with New Zealand just behind, paying $1.11 in local currency to the US$1.00.

Unsurprisingly, we were way ahead of most Asian countries, with Japan paying $0.85, China $0.60 and India $0.28 of the equivalent US $1.00.

Do these findings surprise you?

You can read more at PedestrianTV.





    COMMENTS

    To make a comment, please register or login
    jackie
    13th Jun 2015
    9:39am
    Australia's standard of living has gone down because dog eat dog third world country living standards have become our models.
    Lescol
    13th Jun 2015
    10:26am
    The cost is compared against the USD. eh? What is needed are the costs compared to a basket of currencies i.e. apples and not pineapples. Damn statistics.
    Not a Bludger
    13th Jun 2015
    10:32am
    What do you expect in a union controlled country?
    MICK
    13th Jun 2015
    12:48pm
    Next political advertisement for the Murdoch controlled government methinks. I would think that it was the rich controlling the country, not the unions.
    Stoker
    13th Jun 2015
    2:58pm
    Your so right "Not a B"
    MICK
    13th Jun 2015
    4:59pm
    That you again Frank? Political advertising for your government employer? Don't they give you weekends off?
    aly_rob60
    13th Jun 2015
    10:42am
    Not at all surprising! When you continually have to dip into your "savings" to survive, then this is NOT news!
    MITZY
    13th Jun 2015
    11:10am
    Its a big country with a small population living around its coast. Its got growing pains and not enough tax dollars to satisfy its growth. Its got nothing to do with the country's unions as many many years ago there were strikes and more strikes and the country still prospered.
    Its hard to compare our high costs with the USA when you take a look at the population in the USA compared to Australia and the fact that practically all of the USA is well and truly inhabited up and down and across its expanses.
    We do very well for a fairly young country and I certainly wouldn't want to live anywhere else. Biggest is always best.
    MITZY
    13th Jun 2015
    11:11am
    Last sentence .... should read Biggest is not always best.
    MICK
    13th Jun 2015
    12:47pm
    And the wages! Read my post below.
    raymondp
    13th Jun 2015
    11:17am
    Why am I NOT surprised? I have always said we are a greedy lot, we Aussies. Everything is sooooo over priced, everything. Compare prices in the UK,USA Germany and see how much we and our guests are being ripped of by in this country. I regularly buy Bluray discs from the UK and they are always at least $10 cheaper, even with postage than here. Aussie greed, and that includes our hopeless Government.
    MICK
    13th Jun 2015
    12:46pm
    True, but read my post below.
    MICK
    13th Jun 2015
    11:17am
    My wife and I just came back from an 11 week world trip.
    Whilst Australia is indeed close to the most expensive place to live in the world what this article fails to mention (shame Sue) is that wages in Australia are considerably higher than anywhere else. Americans pay under $10 an hour. Germans are the same. Japan is much the same.
    So please explain how one can 'compare' the cost of living when this is not related to earning capacity....and this does not even include the protections and add-ons which workers in Australia enjoy and those in other countries do not have?
    If you want to discuss "transport" then please get onto a Shinkansen (bullet train) in Japan. That way you will experience a real cost of travel. It makes Australia look like a freeby.
    This article leaves out more than it says. Sorry, but not well written and very misleading.
    shirboy
    13th Jun 2015
    2:47pm
    We can't grumble too much. Our health system is far superior to the Americans. Only the rich can survive there.
    MICK
    13th Jun 2015
    3:51pm
    Whilst Australians grumble we need to appreciate all that is good when compared to other countries and not let the likes of this government take away what has taken generations and decades to establish with their dishonest rhetoric and blame game. We do not need a political system where the rich own everything.
    Maybe the times are a changing.
    Polly Esther
    13th Jun 2015
    4:06pm
    I blame Joe Hockey, giving Tony Abbott a rest today.
    Ruby
    13th Jun 2015
    5:10pm
    Yes we know that is why we holiday elsewhere

    13th Jun 2015
    5:29pm
    Mick, great to hear, by Your own words, You and Your Wife just returned from a 11 week world tour.
    Bet You never did this under Your beloved Rudd or Gillard regime, unless the unions paid for it.
    Not many AUSSIES can afford these trips, hard enough to keep one's head over the water.
    It must be hard for You to belong to the RICH, as You tell us so many times that You hate them!!!
    MICK
    13th Jun 2015
    6:07pm
    Sounds like sour grapes and payback for my calls to end the rorts of the rich which your side of politics have protected despite calls to end the disgraceful superannuation tax shelter.
    I hate to disappoint you but we are not rich. Neither do we get a pension. But we have gone without and do SAVE to travel....at a cost which you could not even comprehend.
    I have always put my case for stopping the rich rorting the system. I NEVER HAVE. What about you?
    MICK
    13th Jun 2015
    6:20pm
    Your post reads is a blatant political advertisement for this government and the next mud throwing exercise is on at Labor. A familiar game plan.
    The Gillard allegations ended up with NO CASE TO ANSWER....after the media used it to change the government. Funny that. Now a replay for the next leader is on with an election approaching.
    THE MEDIA MIGHT LIKE TO INVESTIGATE THE RELATIONSHIP BETWEEN THE CURRENT GOVERNMENT AND THE MURDOCH PRESS AND MINING INDUSTRY. I thought so. Accommodated corruption one might think!!
    Once again, just for the record, in case you missed it the last 50 times Frank, I SUPPORT NEITHER SIDE OF POLITICS....unlike you.
    And also, just for the record. I DO NOT HATE THE RICH. What I hate is the dishonest government which permits the rich to obtain unfair lurks (tax shelters) which dole out public money to those who are need the least. Welcome to government for the top end of town.

    13th Jun 2015
    8:48pm
    love it when Mick can't reply in one message, has to have at least two or more.
    The pink bats under the Rudd, Gillard regime, which cost at least 4 lives and many house fires, was an open invitation to make money, I never seen Mick objecting to that waste of money.
    alas Mick You did not answer my question, which union paid for your eleven week world trip
    MICK
    13th Jun 2015
    9:12pm
    Another paid advertisement from the government Frank.
    Its so easy to see when an election is coming: the Murdoch rags ramp up the propaganda stories and the paid trolls start working overtime.
    As I keep saying: I SUPPORT NEITHER SIDE OF POLITICS. It is you who are turning an affordability article into a political one. As I keep saying Frank - YOU HAVE NO CREDIBILITY...no matter who you post under.
    Anonymous
    13th Jun 2015
    10:12pm
    go for it heemshrrk99 / frank et al - mick I too have just come back from a world cruise and this is my first post in over 2 months - reading this particular thread seems to me the one lacking credibility is you - you have your views and others have theirs - neither right nor wrong just different opinions - on balance the others articulate their views more dispassionately and are their more credible
    Anonymous
    13th Jun 2015
    10:12pm
    go for it heemshrrk99 / frank et al - mick I too have just come back from a world cruise and this is my first post in over 2 months - reading this particular thread seems to me the one lacking credibility is you - you have your views and others have theirs - neither right nor wrong just different opinions - on balance the others articulate their views more dispassionately and are their more credible
    MICK
    14th Jun 2015
    9:38am
    Fair enough bob but WE DO NOT NEED POLITICAL ADVERTISING FROM THIS GOVERNMENT or any other.
    Frank posts under multiple names. This looks to be one of them. This would be clear to readers as the technique never changes: the discussion on a non related topic is suddenly turned around to 'unions' and claimed corruption suddenly comes in. Never changes It is what it is.
    I have no objection to 'opinion' but draw the line at paid advertisements for this so hated by all government.
    Last, calling anybody who manages to travel on a beer income 'rich' is just a cheap shot. The rich are pathetic for the most part and I won't be backing off on that one.
    Hope you had a nice holiday. Travelling does give you a new perspective on a whole lot of things.

    13th Jun 2015
    10:43pm
    please Mick, can't You do any better than to get more of your helpers, e.g. bob menzies, who, he would love to be, however could not stay in this great man's shadow, but use his name to do the dirty work for You, anyhow, still waiting for the union name who paid for your overseas trip, unless You belong to the Rich Soceity you so vehemently abhor
    Anonymous
    14th Jun 2015
    8:06pm
    Heemkeek -Your comment surprises me - for a start I was supporting your views and was critical of Micks had line stance - why the vitriol - by all means everyone should express their views with passion but not get personal - you have no idea who I am but let me say that I absolutely admire Sir Robert Menzies and I also think Hawke, Howard and Curtin were good - as for being in someone's shadow - not a chance - happy as I am.
    Mick - I was critical of you yet I appreciate your moderate response - agree with you that anyone calling you rich because you manage to travel is poor form BUT please NOT ALL HATE this government (hate is such a harsh word) - yes I have met some (even on cruise) that hate Abbott and some of his ministers but I suspect they are still in the minority - as I read the crystal the coalition win the 2016 election retaining a comfortable majority
    Hawkeye
    14th Jun 2015
    1:51pm
    I can't really see how this subject can be anything other than political, because currency values are in a constant state of flux. They reflect how other countries perceive the state of our economy. If our economy looks healthy, our dollar goes up, and if our economy looks sick our dollar goes down.

    I have been on overseas holidays twice. First time in March 2013 when we had a Labor government. Our economy was strong, with our dollar at approx US$1.05, so this holiday was very affordable.

    Soon after (approx May 2013) it became inevitable that our government was about to change, and the worlds perception of our economy plunged, taking the value of our dollar with it.

    Consequently, my second overseas holiday in Sep 2014, which had been planned and booked while our dollar was still strong, ended up very much over-budget because under Tony and Joe's economic miss-management skills had resulted in the world de-valuing our dollar to only US$0.90 at that time.

    It has continued to plunge to its current value of around US$0.77.
    So I ask "Which government does the world view as the better economic managers?"
    MICK
    14th Jun 2015
    3:27pm
    A couple of things. First it is not the world's "perception" which caused the AUD to plunge. It is rather the fall in iron ore and coal prices and the future outlook. Given that the idiots who we keep electing, and their overpaid all but useless advisors, harangued the public about selling everything (including our jobs) and importing everything because it is cheaper we are now in the unenviable position of having to pay for our imports. What with? Low ore prices? By selling our food producing land to the Chinese government? By selling our residential real estate to whoever will buy it? And you wonder why the chickens are starting to come home to roost.
    Some will recall that I was calling this tragedy 2 years before the previous government was pushed out. She'll be right because it always has been??? I feel sorry for what this generation is doing to future one.
    What compounds the problem of the AUD is that it is the most heavily traded currency on the planet. And when you get some of the really big American Hedge Funds playing with our currency look out. Although Glenn Stevens thinks he is in charge it is unlikely that anybody can stop the freefall until our country and its failed big business players start to run the nation properly rather than as their personal plaything.
    It must be Sunday. About time to go pull a few more weeds and contemplate the future.
    BElle
    30th Jun 2015
    10:09am
    Have a friend who calculates the comparative cost by how many hours he needs to work to pay for each item. Not practical on a day to day basis but when it comes to items such as housing, transport, fuel etc etc then it makes sense. As a retiree I am not sure that this is even possible as my government pension works out at less tha $10 per hours on a 40 hour weeks!
    Fair Go
    19th Jul 2015
    10:54pm
    This is taken over many different areas, including housing, which I have heard some time ago is the most expensive in the world in Australia. I disagree with Mick on European, and specially German, wages. They are not far behind us, and they do get a lot of services for their high taxes. I found the cost of living in most European countries I visited (7) was lower than ours, as were their wages. But some of the wealthier countries were not far behind us in wages, and just look at the economy of a country like Germany. They must be doing something right. I know anything I bought there was far, far cheaper than in Australia. Eating in restaurants was cheap compared to here, and you got huge plates of food too! Just some observations. I can see why we are tagged as being the most expensive country.


    Join YOURLifeChoices, it’s free

    • Receive our daily enewsletter
    • Enter competitions
    • Comment on articles