Quote (Aube @ Aug 28 2014 05:12pm)
Well I'm was refering to everything else not only the cars. Everything you named is like 2-3x less here in Canada.
Quote (cloudkicker @ Aug 28 2014 06:01pm)
but if you look at each of those things relative to the minimum wage, the prices are only moderately higher if at all. i could still work an 8 hour shift in each country and be able to buy the same things
You guys can't just look at a few items and assume that's how cost of living works though You'll have to look at the entire package. . Japan/Hong Kong are pretty cheap places if you go there holiday, Big Macs are like $2.50 down there but if you live there you'll see it costs you $3000/month for a 1 bedroom apartment in the city. Not cheap anymore, but extremely expensive.
add up the annual food bill (~ 10% of income), cost of a decent car + petrol + insurance (15-20% of income), electricity, phone subscription, 4 bedroom family house (30-35% of income), etc and the TOTAL annual spending for equal lifestyles will be roughly 50% higher in Norway than the USA and roughly 35-40% higher than Canada.. not 100-200% like the items I listed might suggest ^^
Looking at individual price comparison will give a false impression of the cost of living.
For instance. a 13" Macbook Pro Retina starts at $1399 in Canada, while a decent paying student job is what, $10/hr? that's 140 hours work for the base model.
Here it's 10 900,- NOK and a typical student job pays NOK 150,-/hr so we only need to work 72 hours to buy ourselves a Macbook Pro Retina (base 13" model).
so does that mean Norwegian purchasing power is exactly twice that of Canadian purchasing power? (72 vs 140 hours to buy the same thing)
... Of course not. Add in the total cost of living, the Macbook Pro only makes a small % of your spendings throughout your life time, then compare income and the answer is probably 40-50% higher purchasing power here compared to Canada. (my estimate) GNI (PPP) puts it at $ 67K to $ 42K which is actually 60% higher.
This post was edited by MGS4BestGameEverMade on Aug 28 2014 10:21am