MILLENIALS’ penchant for avocado on toast being the reason for their relative poverty and inability to buy homes is now an online cliché.
But what about millennials who want to have their avo and eat it too?
Swiss investment bank and financial services company UBS weighed up 11 global cities for comparison, to see where the cost of purchasing a range of millennial “must have” items were the cheapest.
Consumer items considered were “an iPhone, a laptop, a pair of jeans, a pair of sneakers, a Netflix subscription, a cup of coffee, a Big Mac as a late night craving and, of course, avocados.”
The prices of these goods were compared in New York, Paris, London, Zurich, Dubai, Hong Kong, Johannesburg, Moscow, Bangkok, Buenos Aires and Toronto.
While Hong Kong is “one of the world’s most expensive cities”, UBS found that it was at the bottom of the list when it came to millennial goods. An Apple iPhone costs US$1,097, just $9 more than in New York where an iPhone was cheapest on the list.
A Big Mac in HK will cost you $2.87, slightly less than an avocado at just $3.05. By comparison, avocados cost $7.51 in London and $8.27 in Zurich.
For a millennial to purchase all eight items in Hong Kong it would set them back US$1,825 compared to $2004 in Dubai and $2,131 in Bangkok.
Buenos Aires is exponentially dearer than Hong Kong for millennials – here they will have to fork out $3,696 for the goods. The only thing affordable in Argentina’s largest city were the avocados.