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General Interest > Money Matters
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What are the best countries to sell to?
    #13229160 -

I want to try selling a service to places where the U.S. dollar is weak, or else places that are just plain rich -- like Dubai. Obviously, this can work out better for both the client and the provider.

It needs to be somewhere where most people speak English.

Anyone know of places where the U.S. dollar is "weak"? I have never understood how that works. Why is 1 USD worth about 80 Japanese yen, but still weak?

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Re: What are the best countries to sell to? [Re: Epigallo]
    #13239674 -

With the yen example, you probably already know this but obviously you won't buy a big mac in Japan for 5 yen... more like 200 at least. i.e. 1 yen doesn't equal 1 dollar in buying power.

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Re: What are the best countries to sell to? [Re: user1837483975]
    #13240406 -

Yeah, I tried to make that implicit in my question. It's hard to say what I mean in specific terms.

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Re: What are the best countries to sell to? [Re: Epigallo]
    #13242052 -

Foreign exchange arbitrage?

Also,

2010 Big Mac Index

Because Big Mac's are nearly homogeneous (McDonalds goes through great pains to make sure the meat, bun, sauce, fries, labor inputs etc are all the very nearly the same) that for about 15 years now there has been a Big Mac index (published by the economist I believe). Interesting stuff.

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Re: What are the best countries to sell to? [Re: Groovy Grant]
    #13242195 -

Oh, cool. So the listed Big Mac price for U.S. is 3.73 USD, and in Norway 7.20 USD. That means if I bring 1 USD to Norway, it is really only worth about .50 USD? Thanks man.

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Re: What are the best countries to sell to? [Re: Epigallo]
    #13242262 -

Well sort of. I mean other aspects attribute to the differences. A better comparison is a variation of the Big Mac Index, which compares how long it would take (in minutes) to 'earn' a Big Mac in various countries using their average wages. Can't find the list thought..

But the whole thing is pretty neat. I mean know comes up with this stuff?!

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Re: What are the best countries to sell to? [Re: Groovy Grant]
    #13242270 -

Old, but it shows the idea;

http://www.finfacts.ie/irelandbusinessnews/publish/article_10006889.shtml

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Re: What are the best countries to sell to? [Re: Groovy Grant]
    #13242444 -

Hm, I don't really understand that type of analysis. Like on this graph, Zurich needs 15 minutes of work to purchase one Big Mac, while New York needs 13 minutes. But Zurich is said to have more domestic purchasing power. That's alright though, I don't need anything so exact. I should probably just sell to places like NYC and LA if I can.

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Re: What are the best countries to sell to? [Re: Epigallo]
    #13242545 -

It just means Zurich compared to New York is more expensive in terms of local wages. Zurich may be cheap for New Yorkers or vice-versa, but Zurich is more expensive for Zurichites (can't figure how what else it might be) than New York is for New Yorkers. Make sense?

Basically it takes 15 minutes of labor to buy a single Big Mac in Zurich, while it only takes 13 minutes of labor to buy a single Big Mac in New York. So New Yorkers have to work two less minutes to pay for a Big Mac than Zurichites!

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Re: What are the best countries to sell to? [Re: Groovy Grant]
    #13242728 -

Yeah, that makes sense. But if Zurich is more expensive for Zurichites than New York is for New Yorkers, then why does it have more domestic purchasing power? Munichers also need to work more than New Yorkers for a Big Mac (17 minutes), but they have less domestic purchasing power (according to the ordered bar graph).

Edited by Epigallo (09/25/10 01:59 PM)

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Re: What are the best countries to sell to? [Re: Epigallo]
    #13243815 -

Buy from cheap country and sell to expensive country.

Cheap = China
Expensive = UK

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