While jobs are not exactly bountiful in Dublin at the moment, those who are in gainful employment in the Irish capital are the fourth best paid in the world, according to a Price and Earnings report published by UBS.
“Dublin ranks as the tenth most priciest city in our survey, but when we look at wages and take account of taxes and social security we find that Dubliners are paid the fourth most on a global comparison,” senior economist at UBS, Brian O’Reilly, told RTE Radio.
UBS compare purchasing power all around the world and publish the report every three years. They first started the report in 1971 with 38 countries and this year’s report was made studying data from 72 countries.
For example, it takes 15 minutes for a worker in Dublin to earn enough to buy a Big Mac, while the same worker in Mexico City has to toil for 129 minutes to put the cash together for the same burger.
Dubliners would have to put in 10 hours work to by an Ipod Nano, while their counterparts in Mumbai would have to work 177 hours to buy the same gadget.