Avos to iPhones: how much millennial must-haves cost in Joburg & abroad

What are some of the essentials every millennial must have? According to a report from Swiss Bank UBS, there are eight items on the list: an iPhone X, a laptop, a cup of coffee, a pair of jeans, a pair of sneakers, a Netflix account, a Big Mac and avocados. 

While pulling together a report comparing the cost of living in cities around the globe, UBS also compared the cost of these so-called "must haves" in 11 different locales, including Johannesburg.

They found that Gen Y get the most bang for their buck in Hong Kong, where the total cost of all eight must-haves is around R22,927. 

Those living in Buenos Aires, Argentina, need to pay more than twice that (R46,417) to buy all the same goods, making it the spot where millennials have to flash the most cash.

Joburg was found to be slightly cheaper than in Buenos Aires at R43,806, which makes the City of Gold the second most expensive city when it comes to millennial goods.

South Africans score when it comes to food: the average price of three avos, a Big Mac and a cup of coffee in Jozi were among the cheapest in the world. While the local cost of Netflix, jeans and sneakers were also comparatively affordable. 

Where Joburgers do feel the pinch, however, is when it comes to purchasing tech: the local cost of an iPhone X (R20,560) and a laptop (R16,521) is high compared to other cities. According to the report, in Hong Kong the same devices are priced at just R13,831 and R7,062 respectively. 

Cities ranked according to the total cost of millennial must-haves, from cheapest to most expensive:

1. Hong Kong
2. Dubai, UAE
3. Bangkok, Thailand
4. New York, USA
5. Paris, France
6. Toronto, Canada
7. Zurich, Switzerland
8. London, UK
9. Moscow, Russia
10. Johannesburg, South Africa
11. Buenos Aires, Argentina