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The Big Mac Index was created in 1986 “as a guide” suggesting what the exchange rates should be based on the US dollar. However, after Venezuela the richest countries top the list where you can find the five most expensive Big Macs: Related: McDonald’s Releases Recipe To Make Its Iconic McMuffin At Home With this fall the purchasing power of the bolivar for foreign products has plummeted and caused food shortages which leads to the country that the price of a Big Mac hamburger is the most expensive in the world, according to the index. Since then the bolivar, which is the official currency, has plummeted until it was overvalued against the dollar by 47.4%.
Venezuela is also going through an economic crisis and in early 2018, the country’s central bank decided to devalue the Venezuelan bolivar by 99 percent as a measure to counteract the hyperinflation that the country is experiencing. Related: Home Depot, McDonald’s, Kohl’s, and Target Reimplement Wearing MasksĪt the opposite end the place in the world where you can buy the most expensive Big Mac is in Venezuela where the price of a McDonald’s hamburger reaches $ 8.35. The reason you may find that price so low is because the country has subsidized tariffs from Lebanese importers who take advantage of this opportunity to buy food at very low prices. In the index all prices are converted into US dollars for classification, which The Economist suggests that can be used as a guide to show which currencies are undervalued or overvalued.ĭue to the economic crisis that drastically afflicts Lebanon A Big Mac burger can be bought in for 37,000 Lebanese pounds, which according to the 2021 The Economist index He designates it as the cheapest Big Mac hamburger on the planet that you can buy for $ 1.68 dollars. The Big Mac index works to show the purchasing power of the currencies of the countries when making a comparison with the cost of the same product, a McDonald’s Bic Mac burger. According to the publication The Economists, the cheapest Big Mac in the world can be bought in Lebanon.
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