2 minutes ago, jacko45k said:

Using average monthly wage percentage to fudge the figures is a nonsense...what an item costs, is a specified sum of money. I am not asked what my monthly wage is when I buy anything from the shops. I only get a UK state pension, which is the same wherever I am.  You could also start basing it upon how much disposable income people have!

(No graphs please, I am getting old and how many year do I have left!)

Read my post again, I realized my error and changed it whilst you were busy ranting!

 

That said, you cannot just take the cost of an item and compare the cost to another country without first comparing it against the income in that country. The cost of any item is always relative to income in the country where the item is purchased. You seem to think that everything has an international price and that items can be compared internationally, they can't!, they are relative to earnings.

 

"Affordability index typically compares the price of a good or the general cost of living in a region to that of other regions or to some baseline measure of personal income. The resulting number may be presented as a raw ratio or normalized to a given index number".

 

https://www.investopedia.com/terms/a/affordability-index.asp#:~:text=Affordability index typically compares the,to a given index number.

2 minutes ago, nigelforbes said:

That said, you cannot just take the cost of an item and compare the cost to another country without first comparing it against the income in that country.

Yes I can, that is true if I look  at gold prices! Average income in that case is very much irrelevant!

1 minute ago, jacko45k said:

Yes I can, that is true if I look  at gold prices! Average income in that case is very much irrelevant!

Gold and oil and commodities and the like are priced internationally, daily consumables by citizens are not.

5 minutes ago, jacko45k said:

Yes I can, that is true if I look  at gold prices! Average income in that case is very much irrelevant!

Read this and learn about PPP.

 

https://datatopics.worldbank.org/world-development-indicators/stories/adjusting-for-price-differences-across-the-world.html

3 minutes ago, nigelforbes said:

Read this and learn about PPP.

 

https://datatopics.worldbank.org/world-development-indicators/stories/adjusting-for-price-differences-across-the-world.html

Too many graphs.......

3 minutes ago, jacko45k said:

Too many graphs.......

I'll try and find one with plenty of cartoon characters for you! Here ya go:

 

https://standupeconomist.com/cartoon-intro-macroeconomics/

Edited March 14, 20233 yr by nigelforbes

On 3/13/2023 at 6:10 AM, mithunonthenet said:

Thailand is not as cheap as it was a decade ago. Food prices, tour costs, and visa on arrival costs have risen quite a bit. Vietnam is cheaper than Thailand so it's a puzzle how Thailand is ranked higher than Vietnam.

I'm currently in Malaysia. Even KL is cheaper than Thailand. Hotels and restaurants are reasonably priced, and public transportation costs less than half what it does in Thailand.

Edited March 14, 20233 yr by StayinThailand2much

13 hours ago, WHansen said:

Stay away from the high tourist destinations and it is very cheap to live here.

 

For 6 months a year i work from hotels in the UK/Europe and what i get for £25/30 a night in Thailand would cost £100-150 a night in the UK.

A lovely Thai meal and a pint will be less than £5 here, at least £15 in the UK.

My home in Thailand including all bills £2,300 year, £9,000 in the UK.

For me, it's very cheap in Thailand.

Now, if only i could find a cheap place to play golf ????

Even if you found a cheap golf course it probably wouldn't have young, good looking caddies.????

Just now, StayinThailand2much said:

I'm currently in Malaysia. Even KL is cheaper than Thailand. Accommodation and food are reasonably priced, and public transportation costs less than half what it does in Thailand.

I have lived in Thailand some time and on my last trip home (UK) I was thinking hey, what happened, this is cheaper than what I pay in Thailand (for many items). I actually thought Malaysia was more expensive than Thailand (after visiting Penang), Appreciate the comments. 

$21 for hotel and $14 for food / day? They must be really living it up.