I wanted to find out in which country one can save the most. I couldn't find an accurate study (OECD, WorldBank etc.) on this, so decided to do my own analysis.
Ex post facto: I recently came across "Local purchasing power". It is probably the most helpful (complex) data for this type of analysis. However I still like my calculation for its easiness and clarity.
There are two dominant parameters: salary (what goes in) and the cost living (what goes out).
For the first, using average monthly disposable salary is the best option; simply because it's after-tax. Taken from Numbeo.
There is no easy standard measure for the cost of living. I basically assumed that my monthly expense would be 300 BigMacs / month. BigMac prices are easily available on The Economist's BigMac Index.
I used 2014 data. All prices are in USD.
Below, countries are sorted by descending "Savings after 300 BigMacs"
Rank | Country | Disposable Income | BigMac Price | Left after 300 BigMacs |
1 | Switzerland | 6301.73 | 6.83 | 4,252.73 |
2 | Australia | 3780.69 | 4.81 | 2,337.69 |
3 | UAE | 3081.34 | 3.54 | 2,019.34 |
4 | Norway | 4215.43 | 7.76 | 1,887.43 |
5 | United States | 3258.85 | 4.80 | 1,818.85 |
6 | Hong Kong | 2495.86 | 2.43 | 1,766.86 |
7 | Denmark | 3269.62 | 5.15 | 1,724.62 |
8 | Japan | 2782.43 | 3.64 | 1,690.43 |
9 | Singapore | 2759.38 | 3.80 | 1,619.38 |
10 | Ireland | 2991.21 | 4.70 | 1,581.21 |
11 | Netherlands | 2937.58 | 4.64 | 1,545.58 |
12 | Britain | 2960.54 | 4.93 | 1,481.54 |
13 | Sweden | 3181.11 | 5.95 | 1,396.11 |
14 | Germany | 2851.85 | 4.94 | 1,369.85 |
15 | Finland | 2924.10 | 5.52 | 1,268.10 |
16 | New Zealand | 2693.05 | 4.94 | 1,211.05 |
17 | Canada | 2773.50 | 5.25 | 1,198.50 |
18 | France | 2761.99 | 5.25 | 1,186.99 |
19 | Austria | 2457.33 | 4.56 | 1,089.33 |
20 | Belgium | 2564.89 | 4.98 | 1,070.89 |
21 | South Korea | 2174.36 | 4.00 | 974.36 |
22 | Saudi Arabia | 1786.07 | 2.93 | 907.07 |
23 | South Africa | 1400.01 | 2.33 | 701.01 |
24 | Italy | 2117.76 | 5.18 | 563.76 |
25 | Taiwan | 1307.43 | 2.63 | 518.43 |
26 | Israel | 1874.63 | 5.13 | 335.63 |
27 | Malaysia | 979.60 | 2.41 | 256.60 |
28 | Argentina | 1018.58 | 2.57 | 247.58 |
29 | Spain | 1635.15 | 4.91 | 162.15 |
30 | Poland | 905.62 | 3.00 | 5.62 |
31 | Czech Republic | 1020.48 | 3.46 | -17.52 |
32 | India | 452.11 | 1.75 | -72.89 |
33 | Russia | 686.16 | 2.55 | -78.84 |
34 | China | 731.14 | 2.73 | -87.86 |
35 | Portugal | 1081.73 | 4.04 | -130.27 |
36 | Ukraine | 357.71 | 1.63 | -131.29 |
37 | Chile | 949.50 | 3.72 | -166.50 |
38 | Mexico | 729.94 | 3.25 | -245.06 |
39 | Estonia | 914.97 | 3.90 | -255.03 |
40 | Greece | 953.44 | 4.11 | -279.56 |
41 | Lithuania | 701.28 | 3.49 | -345.72 |
42 | Costa Rica | 779.04 | 4.00 | -420.96 |
43 | Indonesia | 304.25 | 2.43 | -424.75 |
44 | Thailand | 502.78 | 3.12 | -433.22 |
45 | Egypt | 264.33 | 2.37 | -446.67 |
46 | Sri Lanka | 352.62 | 2.69 | -454.38 |
47 | Hungary | 667.58 | 3.77 | -463.42 |
48 | Vietnam | 334.60 | 2.83 | -514.40 |
49 | Turkey | 756.06 | 4.42 | -569.94 |
50 | Peru | 492.13 | 3.59 | -584.87 |
51 | Uruguay | 862.60 | 4.92 | -613.40 |
52 | Pakistan | 239.31 | 3.04 | -672.69 |
53 | Philippines | 330.73 | 3.70 | -779.27 |
54 | Colombia | 474.66 | 4.65 | -920.34 |
55 | Brazil | 757.92 | 5.86 | -1,000.08 |
56 | Venezuela | 564.76 | 6.82 | -1,481.24 |
Another analysis might consider the number of BigMacs you can buy with your disposable monthly salary:
Rank | Country | Disposable Income | BigMac Price | How Many BigMacs? |
1 | Hong Kong | 2495.86 | 2.43 | 1027.10 |
2 | Switzerland | 6301.73 | 6.83 | 922.65 |
3 | UAE | 3081.34 | 3.54 | 870.44 |
4 | Australia | 3780.69 | 4.81 | 786.01 |
5 | Japan | 2782.43 | 3.64 | 764.40 |
6 | Singapore | 2759.38 | 3.80 | 726.15 |
7 | United States | 3258.85 | 4.80 | 678.93 |
8 | Ireland | 2991.21 | 4.70 | 636.43 |
9 | Denmark | 3269.62 | 5.15 | 634.88 |
10 | Netherlands | 2937.58 | 4.64 | 633.10 |
11 | Saudi Arabia | 1786.07 | 2.93 | 609.58 |
12 | South Africa | 1400.01 | 2.33 | 600.86 |
13 | Britain | 2960.54 | 4.93 | 600.52 |
14 | Germany | 2851.85 | 4.94 | 577.30 |
15 | New Zealand | 2693.05 | 4.94 | 545.15 |
16 | South Korea | 2174.36 | 4.00 | 543.59 |
17 | Norway | 4215.43 | 7.76 | 543.23 |
18 | Austria | 2457.33 | 4.56 | 538.89 |
19 | Sweden | 3181.11 | 5.95 | 534.64 |
20 | Finland | 2924.10 | 5.52 | 529.73 |
21 | Canada | 2773.50 | 5.25 | 528.29 |
22 | France | 2761.99 | 5.25 | 526.09 |
23 | Belgium | 2564.89 | 4.98 | 515.04 |
24 | Taiwan | 1307.43 | 2.63 | 497.12 |
25 | Italy | 2117.76 | 5.18 | 408.83 |
26 | Malaysia | 979.60 | 2.41 | 406.47 |
27 | Argentina | 1018.58 | 2.57 | 396.33 |
28 | Israel | 1874.63 | 5.13 | 365.42 |
29 | Spain | 1635.15 | 4.91 | 333.02 |
30 | Poland | 905.62 | 3.00 | 301.87 |
31 | Czech Republic | 1020.48 | 3.46 | 294.94 |
32 | Russia | 686.16 | 2.55 | 269.08 |
33 | China | 731.14 | 2.73 | 267.82 |
34 | Portugal | 1081.73 | 4.04 | 267.75 |
35 | India | 452.11 | 1.75 | 258.35 |
36 | Chile | 949.50 | 3.72 | 255.24 |
37 | Estonia | 914.97 | 3.90 | 234.61 |
38 | Greece | 953.44 | 4.11 | 231.98 |
39 | Mexico | 729.94 | 3.25 | 224.60 |
40 | Ukraine | 357.71 | 1.63 | 219.45 |
41 | Lithuania | 701.28 | 3.49 | 200.94 |
42 | Costa Rica | 779.04 | 4.00 | 194.76 |
43 | Hungary | 667.58 | 3.77 | 177.08 |
44 | Uruguay | 862.60 | 4.92 | 175.33 |
45 | Turkey | 756.06 | 4.42 | 171.05 |
46 | Thailand | 502.78 | 3.12 | 161.15 |
47 | Peru | 492.13 | 3.59 | 137.08 |
48 | Sri Lanka | 352.62 | 2.69 | 131.09 |
49 | Brazil | 757.92 | 5.86 | 129.34 |
50 | Indonesia | 304.25 | 2.43 | 125.21 |
51 | Vietnam | 334.60 | 2.83 | 118.23 |
52 | Egypt | 264.33 | 2.37 | 111.53 |
53 | Colombia | 474.66 | 4.65 | 102.08 |
54 | Philippines | 330.73 | 3.70 | 89.39 |
55 | Venezuela | 564.76 | 6.82 | 82.81 |
56 | Pakistan | 239.31 | 3.04 | 78.72 |
Countries' both rankings next to each other:
Country | "How Many BigMacs" Rank | "Left after 300 BigMacs" Rank |
Switzerland | 2 | 1 |
Australia | 4 | 2 |
UAE | 3 | 3 |
Norway | 17 | 4 |
United States | 7 | 5 |
Hong Kong | 1 | 6 |
Denmark | 9 | 7 |
Japan | 5 | 8 |
Singapore | 6 | 9 |
Ireland | 8 | 10 |
Netherlands | 10 | 11 |
Britain | 13 | 12 |
Sweden | 19 | 13 |
Germany | 14 | 14 |
Finland | 20 | 15 |
New Zealand | 15 | 16 |
Canada | 21 | 17 |
France | 22 | 18 |
Austria | 18 | 19 |
Belgium | 23 | 20 |
South Korea | 16 | 21 |
Saudi Arabia | 11 | 22 |
South Africa | 12 | 23 |
Italy | 25 | 24 |
Taiwan | 24 | 25 |
Israel | 28 | 26 |
Malaysia | 26 | 27 |
Argentina | 27 | 28 |
Spain | 29 | 29 |
Poland | 30 | 30 |
Czech Republic | 31 | 31 |
India | 35 | 32 |
Russia | 32 | 33 |
China | 33 | 34 |
Portugal | 34 | 35 |
Ukraine | 40 | 36 |
Chile | 36 | 37 |
Mexico | 39 | 38 |
Estonia | 37 | 39 |
Greece | 38 | 40 |
Lithuania | 41 | 41 |
Costa Rica | 42 | 42 |
Indonesia | 50 | 43 |
Thailand | 46 | 44 |
Egypt | 52 | 45 |
Sri Lanka | 48 | 46 |
Hungary | 43 | 47 |
Vietnam | 51 | 48 |
Turkey | 45 | 49 |
Peru | 47 | 50 |
Uruguay | 44 | 51 |
Pakistan | 56 | 52 |
Philippines | 54 | 53 |
Colombia | 53 | 54 |
Brazil | 49 | 55 |
Venezuela | 55 | 56 |