In 1986 The Economist invented the Big Mac index. It is a lighthearted guide to whether currencies are at their “correct” level. Therefore, Big Mac index is based on the theory of purchasing-power parity (PPP). To clarify, it is the notion that in the long run exchange rates should move towards the rate that would equalize the prices of an identical basket of goods and services in any two countries. In this case, it is a burger, McDonalds’ Big Mac.
In 2018, McDonald’s, to celebrate the 50th anniversary of Big Mac, issued a currency named MacCoin. Each MacCoin was redeemable for one Big Mac. And it could not be converted into cash by the restaurant. MacCoin was redeemable in more than 50 countries but only until the end of 2018.
In 2018, the most expensive Big Mac was in Switzerland. It costed 6,65$. Further, the second most expensive burger was in Sweden with a cost of 5,97$. Then, the third country, where the burger was costly, was Norway. The price was 5,73$.
The cheapest Big Mac was in Ukraine. It costs 1,77$.
Check out this data visualization prepared for weekly MakeOverMonday event.
Find full visualization on Tableau Public profile.
Data visualization on Tableau Public:
Big Mac Index Visualization Credits:
- Data source: The Economist
- Originally visualization was prepare for MakeOverMonday event
- Tools I used: Tableau Desktop and Tableau Prep.