Hungary - The value of money and why youngsters leave - August 31, 2018

In Budapest, a worker needs to work for almost an hour to earn enough money to buy a Big Mac, according to an UBS international survey. The so-called Big Mac index is an indicator for the purchasing power of an economy and is meant to symbolise the value of local money. The survey works with average salaries and average prices. From all the European cities that were in the survey, the only cities where one would need to work even more for a hamburger (or an iPhone) than in Budapest are Istanbul and Kiev. The results confirm earlier findings from the OECD that only workers in three other OECD-countries earned less per hour. Observers see this as one of the most important reasons for the ongoing leave abroad of youngsters.  

Read on: in English …    in English (2) …    The Big Mac ranking: in English …

For more information, please contact the editor Jan Cremers or Sanne van der Gaag, Amsterdam Institute for Advanced Labour Studies (AIAS) or the Head of communications at the ETUI, Willy De Backer © ETUI


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