Everything in this place is so expensive. In sydney to get a nice meal it would cost you at least $, plus little things are incredibly expensive too ( electricity, housing, some groceries) I know I’m not making this up because Australian cities have ranked in the top ten most expensive cities. So why is America so much cheaper? I’m sure many Australians dream of the prices they have there.
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AUSTRALIA is one of the most expensive places in the world, according to a survey by the investment bank Deutsche Bank.
Aussies pay top dollar for beer, cigarettes, iPhones, hotel rooms, Levi Jeans, movie tickets, flowers – you name it.
But the news might not be as bad as you think.
Everyone knows that the Australian dollar has been very strong recently, having doubled in value against the US greenback over the last decade.
Australia is a very expensive place for foreigners to come to at the moment and this shows up in surveys like the Deutsche Bank survey.
But for Aussies living here, earning Aussie dollars, buying Aussie products with Aussie currency, it doesn’t make a difference. And we we get a great benefit if we do take those Aussie dollars and go buy products in foreign currencies.
So you have to take such surveys with a pinch of salt.
The main trade off is that we are also a high wage country. There is a reason why India is the cheapest country for many products – wages are very low in India.
High wages are a cost to business that must be passed on to customers as higher prices. Businesses in Australia also pay high commercial rents thanks to planning restrictions and the high cost of land.
Source(s): Australia cost of living//
Because it is far from everywhere so things have to be shipped there. Add to this that the country is HUGE so even within the country there is high overhead for commerce. Additionally, the population is modest and thus there is little benefit from economies of scale (a huge market allows for lower cost production). I suspect that global value of the Australian dollar and internal tax rates are equally a source of elevated costs. Canada has many similar cost issues by comparison to the neighboring economic elephant that is the US.
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The exchange rate for the American dollar to the Aussie used to be in favor of us (Americans) but because of the economy going to sh.t the dollar equals out to the Aussie so now everything down under is super expensive for an American tourist.
Source(s): I went to Sydney a couple years back and nearly went broke, still had the time of my life though.
You wouldn’t want to live there.