The article I found is related to the realistic side of a relationship about the cost of dating among different cities since today is Valentine's day. In the article, you will notice there is a table indicating the cost for dating of a night. The top one ranking is New York.
Link: http://www.economist.com/blogs/graphicdetail/2016/02/daily-chart-7
I am surprised that the article didn't estimate gifts like chocolate or even flowers since the price of a flower can change dramatically based on the location.
ReplyDeleteThis is pretty interesting. I was surprised that London fell below New York City. Even Paris, the "city of love" fell below NYC... I'm guessing that this is due to the fact that everything is so expensive in New York..
ReplyDeleteI find that the numbers don't quite tell the whole story and somewhat misleading to some who interpret it. But it does shed some light on how expensive "love" can be in high profile areas around the world's great cities.
ReplyDeleteWhile on a nominal basis it may seem like a lot of money for NYC (and I admit it is), I think it would be more accurate to see the real cost given when taking into account the average income of those in the city. Regardless, it is a lot of money, and looking at the calculations for NYC they even underestimated on some things.
ReplyDeleteThe graph was very cool to look at. I scrolled down to Cleveland and it said the cost of a night was 575 dollars, which was very shocking to me as a Clevelander. The biggest shock for me was that it did not account for any substitute goods. I know in Cleveland not many people take taxi's from the airport. The most common mode of transportation is the rapid from the airport, which goes right into downtown from the airport. So I think these estimates could be a little skewed.
ReplyDeleteI love these applications of economics to day to day decisions. While right now I dont have the funds to jet set to my ideal Valentine's Day location, it is an interesting graph to look at and maybe make a decision about my plans for the future. I would like to also reiterate the sentiments of my fellow commenters and point out that this is not a perfect cost of living survey given that it doesn't account for compliments and substitutes.
ReplyDeleteI find it hard to accurately predict the cost of a night in different places, but the article is very interesting. The chart make me realize that I have a lot of saving to do before I can afford to travel to my favorite Valentines Day location
ReplyDelete