Christopher Adams

The Business Herald’s markets and banking reporter.

Cheap date index: NZ more pricey than New York

Photo / Thinkstock
Photo / Thinkstock

When it comes to going on a "cheap date" Auckland is more expensive than major world centres including New York, Singapore and Chicago, according to new research.

And Deutsche Bank's latest Cheap Date Index ranked Wellington the second most pricey city, behind London, out of the 32 global cities included in the study.

The date doesn't sound particularly romantic, with the index comparing the cost of McDonald's burgers, soft drinks, two movie tickets, two beers and a taxi ride in US dollars in the various cities.

That combination cost US$110.98 in Wellington and US$121.41 in London.

Auckland was the 10th most expensive city for the date, at US$95.85, ahead of New York (US$93.20), Singapore (US$61.84), Chicago (US$80.15), San Francisco (US$88.72) and Boston (US$86.73), according to the index.

The strong New Zealand dollar, which was trading at US86.30c this morning, increases the cost of goods and services purchased in this country in US dollar terms.

Sydney (US$104) was the fifth most expensive city for the date, while Melbourne (US$96.67) was in ninth place, just ahead of Auckland.

Mumbai was the cheapest city, where the date cost just US$25. But while that might sound cheap to New Zealanders, the average salary in India's financial capital is much lower than this country.

Deutsche Bank compares the cost of a range of goods and services in its annual Mapping the World's Prices study, which includes the Cheap Date Index.

An Apple iPhone 5S cost US$901.66 in New Zealand, compared with US$719 in the United States and Canada and US$720 in Hong Kong.

At least we're doing better than Brazil, where the smartphone will set you back US$1221.61, according to the study.

The research found Wellington to be one of the most expensive cities for an 8km taxi ride, with the fare costing US$29.22, ahead of New York (US$20), San Francisco (US$21), Sydney (US$23.22) and Melbourne (US$18.58).

The 8km ride cost $21.49 in Auckland.

A movie ticket cost US$14.18 in Auckland and Wellington, compared with US$13.50 in New York, US$18.22 in London and just US$3.78 in Mumbai, according to the study.

A 500ml beer in a "neighbourhood pub" in Auckland and Wellington cost US$6.02, ahead of Sydney (US$5.57), Rio de Janeiro (US$3.05), Frankfurt (US$4.59) and San Francisco (US$4.96).

Manila was the cheapest city for a tipple, with a beer costing just US$1.42. Cape Town and Johannesburg were also cheap, with beers costing just US$1.70 and US$1.80, respectively.

Meanwhile, New Zealand was the second most expensive country for buying an annual subscription to the Economist magazine, where it cost US$412.58, just behind Japan (US$412.95).

The same subscription cost just US$160 in the United States, US$50 in Indonesia and US$64.75 in China.

Australia was the most expensive major economy, while the United States was the cheapest, according to the study.

- NZ Herald

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