Friday, February 09, 2007

An Ipod as a money benchmark

Yes, you read it right. A Bank in Australia, the Commonwealth Bank, decided to use Apple's Ipod to compare global currencies and purchasing power in 26 countries.

So, what did they find?
The website says
Of 26 countries surveyed, Australia is the eighth cheapest place to buy a 2 gigabyte (gb) iPod nano in US dollar terms. The most expensive country is Brazil (US$327.71), the cheapest is Canada (US$144.20), while in Australia the local purchase price of $219 in Australia converts to US$172.36.

But don’t we already have a Mac Index ?
Yes, but the website of the company says that this is different.
The Big Mac index has some limitations, one being that hamburgers cannot be traded across countries. Additionally, the Big Mac index is updated only irregularly. So, in the same spirit as the Big Mac index, CommSec has compiled the iPod index – a comparison of prices for the popular iPod nano music player across the world. Results released today showed that Apple sold 21 million iPods in the past quarter

I have two questions now. First, will the Ipod craze remain the way it is in for the next few year.Second, will this Ipod Index gain popularity.In any case, I realize that if Canada is where Ipod is the cheapest in the world, then why not pick up one from here ? ;)
(Pic Source:


At 10:42 AM, Anonymous bhaskar said...

but i think this decision of australian to gauge the benchmark interms of ipod is very dumb.
ipod has not even survived for about a decade and already if these speculations are being made.what wonders me is reknowned economists themselves accept fact that famous GDP in itself cannot cover the complete state of wealth in a nation and it is being debated for decades..i could agree with them if they have used Gas(Petrol/fuel)..


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