Monday, January 9, 2017

Not nearly as unequal as you thought

This example is about travel. It applies to numerous other goods and services – electronic goods for one comes to mind. 

Flight Centre NZ has calculated that in 1947 an average return airfare to London from Auckland would have cost approximately $1170, equivalent to more than $110,000 today.

That would equate to 85 weeks' pay for the average worker. In 2016 the same airfare cost on average $1700 or 1.2 weeks' pay.

Flight Centre's general manager product, Sean Berenson, says travel is booming right now and Kiwis are making the most of it.

"Where 10 years ago our average customer might have saved to take one holiday every second year, many are now booking two or three annually and there aren't really any places that are out of reach.”

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