59 minutes of sweat: Now say I?m lovin? it!
One needs to sweat it out for 59 minutes to earn Rs 59 to buy a large-sized ?Big Mac? burger from the McDonald's outlet in Delhi, a latest study says.india Updated: Aug 10, 2006 01:35 IST
One needs to sweat it out for 59 minutes to earn Rs 59 to buy a large-sized ‘Big Mac’ burger from the McDonald's outlet in Delhi, a latest study says.
To afford the same burger, those living in African city of Nairobi need to put about half an hour extra, while those in the US cities like Los Angeles, New York, Chicago and Miami would have to put a maximum of 13 minutes.
According to a study of earnings and wages across the 71 cities worldwide, Delhiites need to slog 59 minutes to buy a Big Mac and people in Mumbai needs to work 70 minutes, as against a global average of 35 minutes of the world.
Swiss banking giant and the world's largest wealth manager UBS said in its Price and Earnings, 2006 report published today that wages of people living in the two Indian cities of Mumbai and Delhi were among the lowest in the world, although the living expenses were among the least. UBS said wages only become meaningful in relation to prices and a globally available product like a Big Mac makes the relationship between wages and prices much clearer.
Similarly, people in Delhi need to work for 22 minutes to buy 1 kilogram of bread and 36 minutes for buying 1 kg of rice. In Mumbai, one needs to work 14 minutes for 1kg of bread and 32 minutes for 1kg of rice. In contrast, people in Auckland, London, Sydney and Zurich need to work for just five minutes for 1kg of rice, while in Dublin, Frankfurt, London and Nicosia work of less than 10 minutes is required to purchase 1kg of bread.