Swiss Bank UBS has released their latest Prices and Earnings study for 2015, which compares purchasing power across 71 cities worldwide. One of their metrics is Apple’s iPhone, which has been updated in the report to see the older iPhone 4S replaced by the iPhone 6 (16GB, unlocked from Apple).
Toronto is one of the cities listed in its comparison, and it takes approximately 37.2 hours (or about one work week) to afford an iPhone 6, which is below the global average of 119 hours. Those in Zurich, Switzerland or New York City, average less than three days to buy an iPhone 6.
Compare this to those living in Kiev, Ukraine—it takes 627 work hours to purchase the smartphone, so consider yourself lucky?
(via The Globe and Mail)
To purchase a McDonald’s Big Mac, it takes 15 minutes of work for the average Toronto worker to afford one, while in the capital of Kenya, Nairobi, it takes the longest at 173 minutes. For a worker in Hong Kong, it only takes 9 minutes, the least work time required worldwide.
Want to buy an iPhone 6s or iPhone 6s Plus? It’ll cost you more this time around, due to our lower dollar. Definitely a case of #firstworldproblems.