London is often thought of as one of the most expensive cities in the world, and for good reason. London has always attracted the world’s high flyers, with department stores like Harrods, world-class restaurants and classic five star hotels. In Australia, as things have got more and more pricy, we have always been able to grasp the fact that at least things aren’t “London prices”.
Well, that has now changed. London is increasingly looking like a budget destination compared to Australian capital cities. Take for example the shared national pass time of going to the pub for a beer. The average cost of a pint in London is around £3.50. This works out to be AUD$5.20, and the kind of prices that you would be hard pressed to find in Australia outside of discount student nights! Buying a beer in the average pub in the Sydney CBD is more likely to set you back AUD$10 for a schooner, or close to twice the cost of a pint in London for a smaller beer!
Want a burger to go with your beer? Well London and the UK have Australia trumped there too. According to the Economist’s Big Mac Index, the price of a Big Mac in the UK is US$3.82, some 23% cheaper than the US$4.94 in Australia.
The primary driver for London’s growing affordability as a destination is the falling Pound. In 2001 the GBP hit AUD$2.99, but has since dropped almost half that value at only $1.52 according to the RBA in January 2013.
This currently makes the average Australian considerably better off than the average person from the UK when comparing average salaries. According to the ABS, the average salary in Australia is AUD$56,278 per year, while according to the Office of National Statistics in the UK the average salary in the UK is £22,984 per year.
With current exchange rates, the UK salary works out to be only AUD$34,328, or 39% less than the average Australian salary. However, if the old exchange rate from 2001 were applied, the average UK salary would be 22% higher than the average Australian one at $68,722.
If the Aussie Dollar continues to appreciate against the Pound, then future generations of Australians could be placing London well and truly in the discount destination category! займ срочно без отказов и проверок займ на карту сбербанк онлайнвэббанкир займвзять займ на карту без отказов