Ever wondered how many hours can you work at a coworking space at the price of The Big Mac?Team Kowrk is here with Mac Work Index for Coworking spaces around the globe!
What is Mac Work Index?
In 1986, the economist published the Big Mac Index to measure the purchasing power parity (PPP) between two currencies and evaluate the extent to which exchange rates in prices of identical basket of goods and services (in this case, a burger) in any two countries. Pam Woodall merely coined the term the word “burgernomics” to make the exchange rate theory more digestible.
Kowrk has come up with “ The Mac Work Index” to calculate the amount of coworking hours one can get at the price of Big Mac burger in the respective countries.
How to calculate The Mac Work Index?
In order to make Mac Work calculation, take the prices of The Big Mac in US Dollars for the countries under observation. Then divide them by the average cost of working in a Coworking space for an hour in US Dollars in those respective countries. Hence, we arrived at the number of hours that one can work in a Coworking space for the price of a Big Mac in that particular country.
For eg, The price of a Big Mac in India is $2.5 and the average price of a coworking desk for an hour is $0.5, Hence, a person can work for 5 hours in a coworking space for the price of a Big Mac in India.