Did you know that the cost of a 1/3 liter bottle of Coke or Pepsi is as low as $0.27 USD in Jaipur, India and as much as $5.30 USD in Stavanger, Norway? You can find stats like this at Numbeo.com. They use crowdsourcing to collect prices of various products and services from around the world.
And as we were creating the Barclaycard Travel Community we wondered, how much do things cost when you’re traveling abroad compared to the United States? We thought it might be helpful for travelers to have a comparison tool when planning their next trip. And while the cost numbers available aren’t perfect, we decided to take a step forward.
So, we are excited to introduce the Barclaycard Travel Cost Index. This index compares the cost of traveling to 544 cities around the world with those same costs in New York City. Here is how we built it. We looked at Barclaycard Cardmembers’ spend in the US when they traveled outside the United States. We removed some spend categories that clearly wouldn’t be relevant for those traveling outside of the US. Lastly, we rolled up the remaining spend categories into the following groups and looked at the spend distribution.
Category Spend by Travelers
We then grouped the data collected by Numbeo.com into the same categories. For example, the transportation category is weighted by gas, taxi and train ticket prices. Next, we built an index of transportation costs around the world relative to New York City. We developed indices for each of the 6 categories. Lastly, we weighted the indices by the distribution of spend by our traveling Cardmembers.
Top 5 most expensive cities for travelers (compared with New York City)
So how does this work in the community? Well, as you search through travel stories on the site you will see a section that shows the travel cost index of the city you are searching for; if it’s one of the 544 in our database. The index is compared to the city you told us you live in. That way you can see how much more or less expensive a city is compared to where you live. We hope you like this feature and that it can be a helpful tool in planning your next trip. As always, we’d love to get your feedback. Let us know if you have any questions or ideas on how to improve the Index.