At **** U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the January 2025 Big Mac index. Concurrently, the cost of a Big Mac was **** dollars in the U.S., and **** U.S. dollars in the Euro area. What is the Big Mac index? The Big Mac index, published by The Economist, is a novel way of measuring whether the market exchange rates for different countries’ currencies are overvalued or undervalued. It does this by measuring each currency against a common standard – the Big Mac hamburger sold by McDonald’s restaurants all over the world. Twice a year the Economist converts the average national price of a Big Mac into U.S. dollars using the exchange rate at that point in time. As a Big Mac is a completely standardized product across the world, the argument goes that it should have the same relative cost in every country. Differences in the cost of a Big Mac expressed as U.S. dollars therefore reflect differences in the purchasing power of each currency. Is the Big Mac index a good measure of purchasing power parity? Purchasing power parity (PPP) is the idea that items should cost the same in different countries, based on the exchange rate at that time. This relationship does not hold in practice. Factors like tax rates, wage regulations, whether components need to be imported, and the level of market competition all contribute to price variations between countries. The Big Mac index does measure this basic point – that one U.S. dollar can buy more in some countries than others. There are more accurate ways to measure differences in PPP though, which convert a larger range of products into their dollar price. Adjusting for PPP can have a massive effect on how we understand a country’s economy. The country with the largest GDP adjusted for PPP is China, but when looking at the unadjusted GDP of different countries, the U.S. has the largest economy.

By the year 2030, it is projected that China will eclipse the United States and have the largest gross domestic product (GDP) in the world, at 31.7 trillion U.S. dollars. The United States is projected to have the second largest GDP, at 22.9 trillion U.S. dollars.

What is gross domestic product?

Gross domestic product, or GDP, is an economic measure of a country’s production in time. It includes all goods and services produced by a country and is used by economists to determine the health of a country’s economy. However, since GDP just shows the size of an economy and is not adjusted for the country’s size, this can make direct country comparisons complicated.

The growth of the global economy

Currently, the United States has the largest GDP in the world, at 20.5 trillion U.S. dollars. China has the second largest GDP, at 13.4 trillion U.S. dollars. In the coming years, production will become faster and more global, which will help to grow the global economy.

The MNI China business sentiment index increased to 55.9 in December of 2016 from 53.1 in November. The reading pointed to the highest figure since August 2014, as output rose the most since September 2015 while Future Expectations Indicator went up to the highest in three months. This is a positive end to a choppy year for the Chinese business environment, said Andy Wu, Senior Economist of MNI Indicators. This dataset provides - China Mni Business Sentiment- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the United States accounted for 14.88 percent of global gross domestic product (GDP) after adjusting for purchasing power parity (PPP). This share was expected to decrease to 13.98 percent by 2030, which is roughly a seventh of the global total. What is PPP? The easiest way to understand purchasing power parity is the Big Mac Index, a measure developed by The Economist. The index tracks the price of the McDonald’s Big Mac burger, sold at each of its thousands of restaurants worldwide. Countries where the Big Mac is most expensive have higher purchasing power, meaning one can buy more for each unit of that currency. To calculate PPP, economists use a group of goods to calculate the ratio of the price of this group in each country. This ratio is then used to convert all countries into a standardized price level, on parity with each other. Why use PPP? A U.S. dollar in the United States does not have the same purchasing power as a dollar in China, even after considering the exchange rate. For this reason, adjusting for PPP gives an idea of what the rest of the world could buy in the United States, if prices were the same as in their home country. However, some economists argue that using PPP for comparisons between countries is inaccurate because it changes the price level differently for each country. Still, because it accounts not only for country-specific effects but also inflation and exchange rate fluctuations, PPP is a very popular metric.

Abstract

The World Values Survey (WVS) is an international research program devoted to the scientific and academic study of social, political, economic, religious and cultural values of people in the world. The project’s goal is to assess which impact values stability or change over time has on the social, political and economic development of countries and societies. The project grew out of the European Values Study and was started in 1981 by its Founder and first President (1981-2013) Professor Ronald Inglehart from the University of Michigan (USA) and his team, and since then has been operating in more than 120 world societies. The main research instrument of the project is a representative comparative social survey which is conducted globally every 5 years. Extensive geographical and thematic scope, free availability of survey data and project findings for broad public turned the WVS into one of the most authoritative and widely-used cross-national surveys in the social sciences. At the moment, WVS is the largest non-commercial cross-national empirical time-series investigation of human beliefs and values ever executed.

The project’s overall aim is to analyze people’s values, beliefs and norms in a comparative cross-national and over-time perspective. To reach this aim, project covers a broad scope of topics from the field of Sociology, Political Science, International Relations, Economics, Public Health, Demography, Anthropology, Social Psychology and etc. In addition, WVS is the only academic study which covers the whole scope of global variations, from very poor to very rich societies in all world’s main cultural zones.

The WVS combines two institutional components. From one side, WVS is a scientific program and social research infrastructure that explores people’s values and beliefs. At the same time, WVS comprises an international network of social scientists and researchers from 120 world countries and societies. All national teams and individual researchers involved into the implementation of the WVS constitute the community of Principal Investigators (PIs). All PIs are members of the WVS.

The WVS seeks to help scientists and policy makers understand changes in the beliefs, values and motivations of people throughout the world. Thousands of political scientists, sociologists, social psychologists, anthropologists and economists have used these data to analyze such topics as economic development, democratization, religion, gender equality, social capital, and subjective well-being. The WVS findings have proved to be valuable for policy makers seeking to build civil society and stable political institutions in developing countries. The WVS data is also frequently used by governments around the world, scholars, students, journalists and international organizations such as the World Bank, World Health Organization (WHO), United Nations Development Program (UNDP) and the United Nations Headquarters in New York (USA). The WVS data has been used in thousands of scholarly publications and the findings have been reported in leading media such as Time, Newsweek, The New York Times, The Economist, the World Development Report, the World Happiness Report and the UN Human Development Report.

The World Values Survey Association is governed by the Executive Committee, the Scientific Advisory Committee, and the General Assembly, under the terms of the Constitution.

Strategic goals for the 7th wave included:

Expansion of territorial coverage from 60 countries in WVS-6 to 80 in WVS-7; Deepening collaboration within the international development community; Deepening collaboration within NGOs, academic institutions and research foundations; Updating the WVS-7 questionnaire with new topics & items covering new social phenomena and emerging processes of value change; Expanding the 7th wave WVS with data useful for monitoring the SDGs; Expanding capacity and resources for survey fieldwork in developing countries. The 7th wave continued monitoring cultural values, attitudes and beliefs towards gender, family, and religion; attitudes and experience of poverty; education, health, and security; social tolerance and trust; attitudes towards multilateral institutions; cultural differences and similarities between regions and societies. In addition, the WVS-7 questionnaire has been elaborated with the inclusion of such new topics as the issues of justice, moral principles, corruption, accountability and risk, migration, national security and global governance.

For more information on the history of the WVSA, visit https://www.worldvaluessurvey.org/WVSContents.jsp ›Who we are › History of the WVSA.

Geographic coverage

Macau SAR.

The WVS has just completed wave 7 data that comprises 64 surveys conducted in 2017-2022. With 64 countries and societies around the world and more than 80,000 respondents, this is the latest resource made available for the research community.

The WVS-7 survey was launched in January 2017 with Bolivia becoming the first country to conduct WVS-7. In the course of 2017 and 2018, WVS-7 has been conducted in the USA, Mexico, Brazil, Argentina, Chile, Ecuador, Peru, Andorra, Greece, Serbia, Romania, Turkey, Russia, Germany, Thailand, Australia, Malaysia, Indonesia, China, Pakistan, Egypt, Jordan, Nigeria, Iraq and over dozen of other world countries. Geographic coverage has also been expanded to several new countries included into the WVS for the first time, such as Bolivia, Greece, Macao SAR, Maldives, Myanmar, Nicaragua, and Tajikistan.

Analysis unit

Household, Individual

Sampling procedure

The sample type preferable for using in the World Values Survey is a full probability sample of the population aged 18 years and older. A detailed description of the sampling methodology is provided in the country specific sample design documentation available for download from WVS.

A detailed description of the sampling methodology is provided in the Macau SAR 2019 sample design documentation available for download from WVS and also from the Downloads section of the metadata.

Mode of data collection

Computer Assisted Personal Interview [capi]

Research instrument

The survey was fielded in the following language(s): Chinese. The questionnaire is available for download from the WVS website.

The average for 2023 based on 193 countries was -0.07 points. The highest value was in Liechtenstein: 1.61 points and the lowest value was in Syria: -2.75 points. The indicator is available from 1996 to 2023. Below is a chart for all countries where data are available.