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Of Big Macs, petrol and wine - SA's cost of living not too bad in global terms

13 October 2019 9:20 AM
Tags:
South African economy
Cost of living
Paul Roelofse
Big Mac Index
#ImStaying
Following the example of #ImStaying, financial planner Paul Roelofse finds the good news for South African consumers.

Facebook group #ImStaying now has over 650 000 members sharing positive stories to counter the negative news in South Africa.

Certified financial planner Paul Roelofse decided to apply this mindset to things financial, looking for the good news in terms of our cost of living.

RELATED: 'It's OK to have hope' - Facebook group #ImStaying celebrates SA's potential

ALSO RELATED: Facebook group #ImStaying responds to 'extremely elitist' backlash

He found that in terms of the informal but popular purchasing power parity guide which uses the price of a McDonald's Big Mac as a benchmark, we're not doing too badly compared to other countries.

According to the Big Mac Index the burger costs $5.30 in its heartland, the US, while South Africans can buy one for less than half the price at $2.40.

Roelofse also finds that while the state of public transport leaves a lot to be desired, the cost of driving a car compares well to the rest of the world - in dollar terms, we pay less for petrol than most countries.

And, the price of the average bottle of wine also doesn't compare too badly either.

If you look for them, there are some good new stories, he concludes.

The point really is that on an average, South Africa is not that bad. It actually has this very good opportunity of a lower cost of living than most countries - that's the point that we're trying to cling to.

Paul Roelofse, Certified financial planner

Listen to the conversation here:


This article first appeared on 702 : Of Big Macs, petrol and wine - SA's cost of living not too bad in global terms


13 October 2019 9:20 AM
Tags:
South African economy
Cost of living
Paul Roelofse
Big Mac Index
#ImStaying

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