Study: Island Is Most Expensive For Happiness
A study by Expensivity — which used estimates from Purdue University’s paper ‘Happiness, income satiation and turning points around the world — concluded that Bermuda is the most expensive place in the world to ‘be happy,’ with the study noting our “high cost of living.”
The organisation said, “Scientists at Purdue have even put a figure on unhappiness. If you live in the United States, $105,000 per annum will help to stop you from becoming unhappy. Anything you earn over that figure will have a negligible effect on your sense of satisfaction.
“Expensivity decided to convert the ‘happiness premium’ for every country in the world, using purchasing power ratios sourced from the World Bank.
“The team then added local cost-of-living to the mix to calculate the different price of happiness from city to city in the US, UK, and key European cities.
“Expensivity built on this study to uncover the price of happiness in every country and also at a city level.
Methodology & Sources:
“Expensivity used estimates from Purdue University’s paper ‘Happiness, income satiation and turning points around the world‘ to calculate satiation points for over 160 countries.
“They then adjusted dollar figures using the Purchasing Power Parity [PPP] conversion factor from the World Bank and the currency exchange rate from TheGlobalEconomy in order to convert the figures from the regional to the country level.
“Finally, the team used cost of living data from Numbeo to adjust national level estimates of satiation points to the city level.
“National estimates were adjusted using Numbeo’s Cost of Living Index, wherein a 1-point difference in index score between two geographies is equivalent to a 1% difference in the cost of living.”
you get what you pay for. God gave us this gem, its expensive. oy vey