• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

Singapore ranks 8 out of 76 countries for the most expensive coffee in the world, reveals Finder’s Starbucks Index

by Stephen Netto
27/09/2019
in International, Lifestyle
Reading Time: 3 mins read
0

With the International Coffee Day coming up next Tuesday (1 Oct), financial comparison website Finder created The Starbucks Index 2019 to compare the differences in price for the same cup of coffee in 76 countries around the world.
The study revealed that Singapore ranks as the 8th most expensive city to buy a tall latte, at USD$4.50.
Topping the list is Copenhagen, Denmark where the same coffee costs the equivalent of $6.05. Meanwhile, those in Istanbul, Turkey get the best for their buck, paying just $1.78.

Source: Finder internal research
While the cost of a coffee includes other variances that are not included in the research – such as the cost of raw coffee, local labour costs, and taxes – this Index is noted as an informal way to measure local prices for a common item against other countries.
According to Finder, the study itself has two components: a coffee cost comparison and a currency valuation index. The coffee cost comparison converts the local cost of a tall latte into US dollars across all 76 countries. The currency valuation index takes into account the fact that dollar values alone are insufficient to determine how much a coffee actually costs in different countries since wages (as reflected in GDP) are higher in some countries than others.
The Index measures each country’s coffee cost to GDP-per-capita ratio against the average trend across all countries. It measures the actual cost of a coffee compared to what a country’s GDP indicates it ought to be.
Source: Finder internal research
Collecting the data
Individuals in 76 countries around the world were asked to purchase a hot Starbucks tall latte from a store in their respective city. The cost of a coffee in each of the city/country is then recorded for further analysis.
Additionally, the individuals were required to submit three photos; a picture of them with the coffee, an image of the receipt, and a photo of the coffee menu.
Calculations used
Coffee Cost: Local coffee prices were converted to US dollars using the exchange rate on 12 September 2019 according to xe.com. Countries were then ranked based on the cost of the coffee in US dollars.
Starbucks Index: The USD coffee cost figure was plotted against GDP per capita for all countries. The resultant trendline was used to determine the average increase in coffee cost against an increase in GDP. The final currency valuation is the difference between each actual plot point and the trendline – or how far each country differs from the average.
Rankings: The cost of coffee was round to the nearest two decimal places. Where prices were exactly the same, we gave them the same ranking. Russia and Kazakhstan are higher or lower value when rounded to three decimal places.
Limitations of the research
The cost of a Starbucks coffee can vary significantly due to a range of variables across a country or city. Given only one coffee price was used per city/country, the data may not be representative of the area as a whole. Also, different countries measure their GDP in different ways, so the data in this study should be considered as an indicator rather than an exact measure of currency value.
For more findings and info from the study, click here.

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

Why is Gautam Adani’s Indian empire in turmoil?
AFP

Adani shares dive again as Indian opposition stages demos

06/02/2023
Josephine Teo defends SPH Media Trust in Parliament on its circulation scandal; Commitment of S$900 million funding will still be made available
Singapore

Josephine Teo defends SPH Media Trust in Parliament on its circulation scandal; Commitment of S$900 million funding will still be made available

06/02/2023
Japanese-Canadian junior high school girl breaks national record with 3km in 9:02 mins
Japan

“I want my normal life back,” Sherry Drury withdraws from National Junior High School Tournament due to overheated public attention

06/02/2023
FY2023 Budget Statement to be delivered by Lawrence Wong on 14 Feb, 3.30pm
Singapore

FY2023 Budget Statement to be delivered by Lawrence Wong on 14 Feb, 3.30pm

06/02/2023
AFP

Scholar, lawmakers and journalist among Hong Kongers on trial

06/02/2023
Netizens urge HDB to investigate another “unoccupied” flat listed for sale
Housing

Netizens urge HDB to investigate another “unoccupied” flat listed for sale

06/02/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Latest posts

Why is Gautam Adani’s Indian empire in turmoil?

Adani shares dive again as Indian opposition stages demos

06/02/2023
Josephine Teo defends SPH Media Trust in Parliament on its circulation scandal; Commitment of S$900 million funding will still be made available

Josephine Teo defends SPH Media Trust in Parliament on its circulation scandal; Commitment of S$900 million funding will still be made available

06/02/2023
Japanese-Canadian junior high school girl breaks national record with 3km in 9:02 mins

“I want my normal life back,” Sherry Drury withdraws from National Junior High School Tournament due to overheated public attention

06/02/2023
FY2023 Budget Statement to be delivered by Lawrence Wong on 14 Feb, 3.30pm

FY2023 Budget Statement to be delivered by Lawrence Wong on 14 Feb, 3.30pm

06/02/2023

Scholar, lawmakers and journalist among Hong Kongers on trial

06/02/2023
Netizens urge HDB to investigate another “unoccupied” flat listed for sale

Netizens urge HDB to investigate another “unoccupied” flat listed for sale

06/02/2023

Keppel condones and retains senior executives involved in bribery to get contracts

06/02/2023
7.8-magnitude quake hits southern Turkey: USGS

7.8-magnitude quake hits southern Turkey: USGS

06/02/2023

Trending posts

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

by Yee Loon
30/01/2023
25

...

Cognizant India transfers staff to work in Singapore as recently as this year

Local IT grads can’t find jobs while engineers constantly transferred from India to work in SG under CECA

by Correspondent
05/02/2023
67

...

They have done a fine job of confusing us about the jobs situation

They have done a fine job of confusing us about the jobs situation

by Augustine Low
01/02/2023
47

...

Adani’s brother runs SG company and registers as director with local ID

Adani’s brother runs SG company and registers as director with local ID

by Correspondent
03/02/2023
26

...

Excessively charging for an essential need, and calling it affordable because people still can pay for it?

by Terry Xu
31/01/2023
40

...

Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives

Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives

by The Online Citizen
02/02/2023
19

...

September 2019
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30  
« Aug   Oct »

The Online Citizen is a regional online publication based in Taiwan and formerly Singapore’s longest-running independent online media platform.

Navigation

  • Editorial
  • Commentaries
  • Opinion
  • Politics
  • Community

Support

  • Contact Us
  • Letter submission
  • Membership subscription

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Fact Checking Policy
  • Privacy Policy

© 2022 - 2023 The Online Citizen Asia

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2022 - 2023 The Online Citizen Asia

wpDiscuz