Kuwait, Saudi Arabia and Malaysia are the cheapest places in the world to buy technology such as smartphones, games consoles and tablet computers, while Venezuela, Angola and Brunei are the most expensive.
Consumers gifting an Android phone this Christmas will spend an average of $539.18 in Kuwait, while Venezuelans will have to spend the equivalent of $78,054.19. The sky-high figure for Venezuela is due to its economic crisis, where inflation is forecast to reach 1,500 percent in 2017. Angola ranks as second most expensive overall, where the average price of an Android phone is $2,641.01.
The 2016 technology price index, compiled by Latin American online retailer Linio, looks at the average retail price, including taxes, of 14 popular devices in 71 countries. It studied several brick-and-mortar stores, smaller retailers and at least three websites per country.
An attendee demonstrates the Touch Bar on a new MacBook Pro laptop computer during an event at Apple headquarters in Cupertino, California, Oct. 27, 2016.
David Paul Morris | Bloomberg | Getty Images
It may come as a surprise that Middle Eastern countries rank as some of the cheapest places for technology, but relatively high costs of living are offset by low VAT on consumer products. Developing countries such as Venezuela and Belarus are more expensive, because "inflation and import restrictions have taken a huge toll on consumer access to the market," according to Linio.
The cheapest piece of tech people can buy is a portable device charger for an average $2.14 in Vietnam, while a similar product will cost $105.14 in Brunei, or $371.87 in Venezuela.
Linio also spoke to 5,000 consumers about what devices they'd like for Christmas. Laptops came out top, with 28.4 percent preferring to receive one. They would do best to buy a Windows version from Turkey, retailing at an average of $300.37, while those in Brazil would have to spend $3,390.96 on a MacBook, more than ten times as much.
Linio operates in eight countries in Latin America and claims to have 50 million visits to its website per month. The study was revealed Wednesday, and currency conversions were correct as of December 1.
The ten cheapest countries to buy technology
1. Kuwait
2. Saudi Arabia
3. Malaysia
4. Canada
5. United Arab Emirates
6. Qatar
7. Japan
8. USA
9. Australia
10. Poland
The ten most expensive countries to buy technology
1. Venezuela
2. Angola
3. Brunei
4. Brazil
5. Guatemala
6. Singapore
7. Croatia
8. Indonesia
9. Bangladesh
10. Philippines
Alright, let me dive into this tech talk. Trust me, I've got the inside scoop on this one. Now, when it comes to the global tech market, it's a wild ride with prices all over the map. So, Kuwait, Saudi Arabia, and Malaysia—these are your tech utopias. They're like the promised land for gadget enthusiasts. Why? Well, low VAT on consumer products in these Middle Eastern countries makes tech surprisingly affordable, despite the relatively high costs of living.
Now, let's break down these price disparities. If you're feeling generous and want to gift an Android phone for Christmas, the average cost is $539.18 in Kuwait. But hold your horses, because if you're in Venezuela, you might need to reevaluate your budget—$78,054.19 for the same Android generosity. Yeah, you read that right. Blame it on Venezuela's economic crisis and a mind-boggling inflation forecast of 1,500 percent in 2017. That's not a typo.
Angola follows suit as the second most expensive, where an average Android phone sets you back a cool $2,641.01. Ouch. And just to give you the full picture, this data comes from Linio, a Latin American online retailer that meticulously compiled a 2016 technology price index. They crunched the numbers, including taxes, for 14 popular devices across 71 countries. They weren't messing around—they hit up brick-and-mortar stores, smaller retailers, and even three websites per country. It's like the tech pricing Olympics, and Linio brought home the gold.
Now, the study also reveals that it's not just about the devices; it's about what people want for Christmas. Laptops rule the wish list, with 28.4 percent of folks dreaming of unwrapping one. And if you're eyeing a Windows laptop, Turkey is your tech Santa, offering an average price of $300.37. But, my friends in Brazil, if you're gunning for a MacBook, be ready to shell out $3,390.96—more than ten times the price in Turkey. That's a MacBook Pro price tag worth a moment of silence.
Now, if you're on a tight budget, Vietnam has your back with the cheapest piece of tech—a portable device charger for a mere $2.14. But beware, in Brunei, it's $105.14, and in Venezuela, brace yourself for $371.87. It's like a tech rollercoaster, and these prices are the twists and turns.
So, there you have it, my tech-savvy friend. The world of tech pricing is a fascinating journey, from the tech havens of Kuwait to the budgeting nightmares in Venezuela. Linio has spoken, and the numbers don't lie. Happy gadget hunting!
