Starbucks has more than 18,000 stores world-wide. The most expensive coffee is found in Oslo. Source: AFP
THINK Starbucks is a rip off? Just wait until you see how much Oslo has to pay for the same cup of coffee.
The Wall Street Journal compared the cost of a Starbucks grande latte converted to US dollars using the exchange rates on February 20 and including taxes.
It found it would take $9.83 to buy a latte in Oslo Norway, compared to $4.82 in Sydney, $4.30 in New York and $2.80 in New Delhi.
In Zurich that cup of coffee would cost $7.12, in Brussels $5.65, in Istanbul it would cost $3.92 and in Mexico it would cost $3.22.
The findings of the Wall Street Journal's research show that in countries where the currency is overvalued, the dollar doesn’t go as far.
"It would take more dollars to buy a Starbucks latte in a country with a strong currency like Norway, than in one with a currency that has less buying power like India," the Journal said.
Take a look at the Wall Street Journal's graph on Purchasing power. The price of a latte.
A recent UBS report ranked Oslo as the most expensive city in the world for the last three years.
"Food in Oslo is so expensive you can actually buy half a cucumber," the New York Times reported.
PriceRunner's Martin Andersen told news agency NTB: "We think it’s important for travellers to know more than just the cost of a hotel room. The price of everyday items is also important."
So if you're thinking of travelling to Oslo, make sure you allow a bigger budget or at least search the web for savings tips.
