The Big Mac Index
The same burger, the same recipe, and what its price in each market says about that market's currency. The simplest test of what money is really worth at a counter.
On this dish the Philippines PHP looks 45% undervalued, and the Australia AUD 48% overvalued, against USA as the benchmark.
The Economist began comparing Big Mac prices across countries in 1986, as a light way of asking whether a currency is overvalued or undervalued. The comparison is not really about the burger: dividing one country's price by another's gives the exchange rate those two prices imply, and the distance from the actual rate is the finding. The burger is close to identical wherever it is sold and it is made and consumed locally, so the price mostly reflects local wages, rent and taxes rather than shipping or tariffs. That makes it a rough but honest yardstick.
This version is built from the menu prices we hold rather than from a survey. Each figure is the local price on that market's own McDonald's menu, converted at the exchange rate on the date shown. It is a comparison of counter prices, not a measure of purchasing power: it does not adjust for what people in each country earn.
Nutrition information
New Zealand · standard New Zealand product
What this figure represents: McDonald's’s New Zealand profile for Big Mac, published February 2026. At 578 kcal, the published serving is about 29% of the 2,000-calorie reference used on U.S. nutrition labels.
Bread, size, cheese, sauce, vegetables and local recipes can change every figure. This is a reference preparation, not one worldwide formula and not individualized dietary advice.
Official source McDonald's New Zealand nutrition table · checked 2026-08-22 · How to read Daily Value
What it costs in each market
The local price on each market's own menu, and the same figure in US dollars at the rate shown at the foot of this page.
| # | Market | Local price | In US dollars | vs average | ||
|---|---|---|---|---|---|---|
| 1 | Philippines | ₱179 | $2.90 | -44% | Menu → | |
| 2 | Vietnam | ₫76,000 | $2.93 | -44% | Menu → | |
| 3 | Malaysia | RM13.77 | $3.41 | -35% | Menu → | |
| 4 | Hong Kong | HK$27 | $3.44 | -34% | Menu → | |
| 5 | Indonesia | Rp 68,000 | $3.85 | -26% | Menu → | |
| 6 | China | ¥26.50 | $3.93 | -24% | Menu → | |
| 7 | Thailand | ฿149 | $4.56 | -12% | Menu → | |
| 8 | USA | $5.29 | $5.29 | +2% | Menu → | |
| 9 | Canada | C$7.59 | $5.51 | +6% | Menu → | |
| 10 | Singapore | S$7.60 | $5.99 | +15% | Menu → | |
| 11 | United Arab Emirates | AED 22 | $5.99 | +15% | Menu → | |
| 12 | United Kingdom | £4.49 | $6.12 | +18% | Menu → | |
| 13 | New Zealand | NZ$11.90 | $7.11 | +37% | Menu → | |
| 14 | Ireland | €6.10 | $7.13 | +37% | Menu → | |
| 15 | Poland | zł 26.90 | $7.29 | +40% | Menu → | |
| 16 | Australia | A$10.95 | $7.84 | +51% | Menu → |
What this implies about each currency
If this one dish were the whole economy, this is the exchange rate it would imply. The USA price of $5.29 is the benchmark: divide any market's local price by it and you get the number of local units a dollar ought to buy. Set that against what a dollar actually buys and the gap is how far the currency sits from the level this dish implies.
| Market | Local price | Implied rate per $1 | Actual rate per $1 | Currency vs the dish | |
|---|---|---|---|---|---|
| Philippines | 179 PHP | 33.84 | 61.72 | -45% undervalued | |
| Vietnam | 76,000 VND | 14,367 | 25,959 | -45% undervalued | |
| Malaysia | 13.77 MYR | 2.60 | 4.04 | -36% undervalued | |
| Hong Kong | 27 HKD | 5.10 | 7.84 | -35% undervalued | |
| Indonesia | 68,000 IDR | 12,854 | 17,659 | -27% undervalued | |
| China | 26.50 CNY | 5.01 | 6.74 | -26% undervalued | |
| Thailand | 149 THB | 28.17 | 32.68 | -14% undervalued | |
| USA benchmark | 5.29 USD | 1.00 | 1.00 | benchmark | |
| Canada | 7.59 CAD | 1.43 | 1.38 | +4% overvalued | |
| Singapore | 7.60 SGD | 1.44 | 1.27 | +13% overvalued | |
| United Arab Emirates | 22 AED | 4.16 | 3.67 | +13% overvalued | |
| United Kingdom | 4.49 GBP | 0.85 | 0.73 | +16% overvalued | |
| New Zealand | 11.90 NZD | 2.25 | 1.67 | +34% overvalued | |
| Ireland | 6.10 EUR | 1.15 | 0.86 | +35% overvalued | |
| Poland | 26.90 PLN | 5.09 | 3.69 | +38% overvalued | |
| Australia | 10.95 AUD | 2.07 | 1.40 | +48% overvalued |
Overvalued means the currency buys more than this dish says it should; undervalued means it buys less. This is one dish, not an economy, and it takes no account of local wages, rents or tax treatment. Rates are the ones shown at the foot of this page.
What is missing, and why
The four markets missing from this table
We track twenty countries and sixteen of them are above. The other four are missing for reasons worth stating, because a comparison that hides its gaps is worth less than one that names them.
India has McDonald's but no Big Mac. The menu carries no beef and no pork at all, so the burger does not exist there. The nearest thing the chain sells is the Chicken Maharaja Mac, a double-decker grilled chicken burger, at 285 rupees, with a vegetarian version at 235. It is a different burger and it is not counted above.
Cambodia, Laos and Myanmar have no McDonald's at all. Cambodia was still only being considered as a future market as of November 2025. A sweep of the Lao delivery platform covering all eighteen provinces returned 331 restaurants and not one international burger chain. McDonald's own list of Southeast Asian markets names seven countries and does not include Myanmar.
Local prices are the stored values and do not move with exchange rates; dollar figures use mid-market rates from 22 August 2026. Portion size and recipe can differ between markets even when the product name does not - Read the methodology before quoting these figures.
Other McDonald's products in the index
| Product | Markets | Cheapest (USD) | Priciest (USD) | Gap |
|---|---|---|---|---|
| Cheeseburger | 11 | $1.76 | $4.07 | +131% |
| Filet-O-Fish™ | 11 | $1.79 | $5.98 | +235% |
| McChicken | 9 | $1.45 | $6.52 | +349% |
| Quarter Pounder™ with Cheese | 9 | $2.80 | $7.48 | +167% |
| Double Cheeseburger | 9 | $2.99 | $5.80 | +94% |
| Small/Medium Fries | 7 | $0.72 | $3.35 | +365% |
| Hamburger | 7 | $1.49 | $3.53 | +137% |
| McCrispy™ | 7 | $5.36 | $8.06 | +50% |
| Small Strawberry Sundae | 6 | $0.68 | $3.83 | +463% |
| Double Quarter Pounder™ with Cheese | 5 | $4.93 | $8.76 | +78% |
Discussion
Prices move and menus differ by branch - What people have seen on the ground is part of the record. Be useful, be civil.
No comments yet - Yours starts it.