Sticker Shock: The Best and Worst Cities for Haircuts, Hotels, iPhones and More
Planning on a vacation or a move? If you want to get the most bang for your buck, better choose your destination wisely.
According to Deutsche Bank's latest annual survey of global prices, Australia ranks as the world's most expensive country, holding that title for the fourth straight year. Meanwhile, for developed nations, your money will get you the farthest in the U.S., while India remains the cheapest country overall.
Deutsche Bank's report, released this week, examines the price of a wide range of goods and services in cities across the world – everything from a haircut, to a gym membership, to a pint of beer, to the latest iPhone.
Individual products cost dramatically different sums around the globe; in general, the cost of living may be lower in Brazil than it is in the U.S., but when it comes to electronics, take that equation and flip it on its head.
Consider the new iPhone 6. According to the report, at $1,254, a 16 GB device costs nearly double in Brazil than it does in the U.S., where it retails for a comparatively meager $650.
There are other fascinating discrepancies in the report, which breaks down cost by the five most expensive and least expensive cities worldwide. Check them out below.
A men's standard haircut. Zurich nabs the distinction as most expensive by a wide margin; according to the report, the average men's haircut there costs a whopping $49.80, miles ahead of second-place Tokyo ($31.90) and third-place San Francisco ($29).
Meanwhile, in India, haircuts come cheap, costing an average of $3.70 in Mumbai and $2.40 in New Delhi.
A pint of beer. If you’re traveling to Paris, you're going to want to stick with the wine. At $7.60 a pint on average, the city of light tops the list of the most expensive locales to purchase draft beer. New York isn't much better, with a typical pint ringing in at $7.
Beer lovers should consider a trip to Johannesburg, Cape Town or Manila – cities where, at under $2 a pint, the beer flows (almost) as cheaply as water.
Movie tickets. Waiting until a film comes out on DVD is a good way to save money, a strategy that is particularly effective in a handful of cities. In Zurich, where the average movie ticket costs $19.70, you can save a small fortune by forgoing the cinema. The same goes for Tokyo ($19.52), London ($17.06), Melbourne ($14.61) and New York City ($14).
Meanwhile, a trip to the cinema costs under $5 in Cape Town, Banalore, Kuala Lumpur, Jakarta and Mumbai.
Monthly gym membership. Zurich leads the pack again, with an average membership costing $122.30. Gym access also comes dear in Moscow ($104.80), New York City ($100), Singapore ($93.10) and Tokyo ($88.50). On the flip side, joining a typical gym in Berlin, Johannesburg, Bangalore and Cape Town costs well under $40 a month.
Five-star hotels. A cushy stay at a luxury, five-star hotel is going to cost you dearly in Sydney, where the average nightly rate is a shocking $880.40, significantly more expensive than runner-up London, where a night at a luxury hotel will set you back $608.20.
At $466.60 a night Paris, the third-most expensive city on the list, appears almost reasonable. That is, before you compare it to Kuala Lumpur, where five-star accommodations can be had, on average, for $77.50 a night.
Entrepreneur Editors' Picks
Crypto Doesn't Have to Be Serious. Just Ask This Comedian Who Organized a Conference About Failure in the Industry.
Want to Succeed? Turn Your Fixed Mindset Into a Growth Mindset.
Google's CEO Is Asking Employees 3 Simple Questions to Boost Productivity
'Greatest Storyteller Wins.' Katy Perry on the Surprising Link Between Pop Stardom and Entrepreneurship.
The 5 Personalities You Meet in a Coworking Space
'Man's Best Friend' — and Investment: The Thriving Industry of Pet-Related Franchising