Using the Big Mac index for comparing construction costs internationally

Langston, Craig and Best, Rick 2005, Using the Big Mac index for comparing construction costs internationally, in Conference Proceedings: The Queensland University of Technology Research Week International Conference, Queensland University of Technology, Brisbane, Qld., pp. 1-11.

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Title Using the Big Mac index for comparing construction costs internationally
Author(s) Langston, Craig
Best, Rick
Conference name Queensland University of Technology Research Week International Conference (2005: Brisbane, Qld)
Conference location Brisbane, Queensland
Conference dates 4-8 July 2005
Title of proceedings Conference Proceedings: The Queensland University of Technology Research Week International Conference
Editor(s) Sidwell, Anthony
Publication date 2005
Conference series Queensland University of Technology Research Week International Conference
Start page 1
End page 11
Publisher Queensland University of Technology
Place of publication Brisbane, Qld.
Keyword(s) purchasing power parities
international cost comparisons
Big Mac
construction-specific indices
Summary This paper explores the use of purchasing power parity (PPP) in the comparison of construction costs between different countries, and whether the development of construction-specific indices will improve reliability.

The approach adopted is to compare the construction cost of a typical five star international hotel per square metre in each of ten major cities using a range of PPP methods and to comment on their variability. In particular, this paper looks at whether an index based on the price of a McDonalds Big Mac3 hamburger is a viable alternative when compared against the mainstream methods. The recent publication of construction-specific indices as part of the Eurostat-OECD joint PPP program is also compared against generic indices and the discrepancy is calculated.

The paper concludes with reflections about which approach is preferable when attempting to assess global construction relativities and what further research is needed.
ISBN 1741071011
9781741071016
Language eng
Field of Research 120299 Building not elsewhere classified
Socio Economic Objective 970112 Expanding Knowledge in Built Environment and Design
HERDC Research category E1 Full written paper - refereed
Copyright notice ©2005, Queensland University of Technology, School of Engineering Systems
Persistent URL http://hdl.handle.net/10536/DRO/DU:30005872

Document type: Conference Paper
Collection: School of Architecture and Built Environment
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