Finder’s Starbucks Index

London coffees are cheaper than the European average, and £2 cheaper than the world’s most expensive

Graphic of the cost of Starbucks around the world

Finder is not affiliated with Starbucks.*

Whether you’re picking up a quick one on the way to work or enjoying a leisurely break from shopping, us Brits love coffee. With this in mind, we created The Starbucks Index to compare the differences in price for the same cup of coffee in 76 countries around the world. The study found London, UK ranks as the 41st most expensive city to buy a tall latte at £2.90.

Topping the list is Copenhagen, Denmark where the same coffee costs the equivalent of £4.91 while those in Istanbul, Turkey get the best for their buck, paying just £1.44. While the cost of a coffee includes other variances that we haven’t included in our research, such as the cost of raw coffee, local labour costs and taxes, our Index is an informal way to measure the strength or weakness of local currencies for a common item against other countries.

The study itself has two components: a coffee cost comparison and a GDP valuation index. The coffee cost comparison converts the local cost of a tall latte into US dollars across all 76 countries. The GDP valuation index takes into account the fact that dollar values alone are insufficient to determine how much a coffee actually costs in different countries since wages (as reflected in GDP) are higher in some countries than others. The Index measures each country’s coffee cost to GDP-per-capita ratio against the average trend across all countries. It measures the actual cost of a coffee compared to what a country’s GDP indicates it ought to be.

Click on the pins below to learn how your coffee cost stacks up against the rest of the world:

The cost of coffee around the world

Cheapest coffees around the world

The second-cheapest country in the study after Turkey was Egypt at £1.58, followed by Colombia at £1.66. The fourth-cheapest was Argentina at £1.73 and rounding out the top five was Mexico at £1.75.

Most expensive coffees around the world

After Denmark, the next most expensive country to buy a Starbucks tall latte was Switzerland at £4.82, followed by Finland at £4.38. Macau was next at £4.22, and the fifth-most expensive latte was in Luxembourg at £4.20.

The cost of coffee in 26 European countries

Europeans can expect to pay the most for a tall latte compared to other regions, with an average cost of £3.19. This is 29p more than the price of a coffee in London. Our nearby neighbours in Dublin get charged 27p more for a coffee. Similarly, a cup of coffee in the European metropolises of Munich, Paris and Athens exceed the price of one in London by 66p, 58p and 23p respectively.

Prices are the steepest in Northern Europe (including countries like Ireland, Sweden and Denmark), averaging £3.84, followed by cities in Western Europe (Netherlands, Austria, France, Belgium, Monaco, Germany, Luxembourg and Switzerland) at £3.72. Cities in Southern Europe (Italy, Portugal, Andorra, Spain and Greece) and in Eastern Europe (Bulgaria, Hungary, Romania, Czech Republic, Poland, Slovakia and Russia) had a significantly lower average cost at £2.55 and £2.43 respectively.

Ranking Price of a tall latte (GBP)
Bulgaria £1.78
Hungary £2.12
Italy £2.23
Portugal £2.23
Romania £2.24
Czech Republic £2.38
Poland £2.45
Slovakia £2.50
Andorra £2.59
Spain £2.59
United Kingdom £2.90
Greece £3.13
Ireland £3.17
Netherlands £3.30
Austria £3.35
France £3.48
Sweden £3.52
Belgium £3.53
Monaco £3.53
Russia £3.53
Germany £3.56
Norway £4.17
Luxembourg £4.20
Finland £4.38
Switzerland £4.82
Denmark £4.91

Coffee prices across other regions

Asia, including countries such as Malaysia, Turkey and Azerbaijan, was the next most expensive region for a hit of coffee with an average price of £3.02. East Asian cities in countries such as Japan, Taiwan and Macau had the highest average cost at £3.43. This was followed by cities in Western Asian countries such as Bahrain, Lebanon and the United Arab Emirates at £3.08 and cities in Southeast Asian countries such as Brunei, Singapore and Thailand at £2.71. A tall latte in South Asia (India) cost £2.68. Central Asia (Kazakhstan), at £2.59, was the cheapest Asian region on average to pick up a Starbucks tall latte.

The average cost of a coffee across the Americas (including North, Central and South America as well as the Caribbean) is £2.64. Cities in the Caribbean (Jamaica, Trinidad and Tobago, the Bahamas and Curacao) have the highest average price at £3.09, followed by Central American cities in Guatemala, El Salvador, Costa Rica and Panama at £2.78 and North American cities at £2.59. South American cities (such as those in Colombia, Argentina, Brazil and others) have the lowest average price at just £2.31.

The least expensive part of the world to buy coffee is Africa coming in at £1.84 – although this included a sample size of just three countries: Egypt, Morocco and South Africa. The second cheapest region was Oceania at £2.58, including Australia and New Zealand.

You can find the complete list of coffee prices around the world here:

Ranking Country City GBP
1 Denmark Copenhagen £4.91
2 Switzerland Aarau £4.82
3 Finland Vantaa £4.38
4 Macau Macau £4.22
5 Luxembourg Luxembourg £4.20
6 Norway Oslo £4.17
7 Hong Kong Hong Kong £3.73
8 Singapore Singapore £3.65
9 Germany Munich £3.56
10 Russia Moscow £3.53
11 Belgium Leuven £3.53
11 Monaco Monaco £3.53
13 Sweden Stockholm £3.52
14 Curacao Willemstad £3.52
15 Lebanon Mount Lebanon, Jbeil District £3.50
16 United States New York City £3.49
17 France Paris £3.48
18 United Arab Emirates Dubai £3.48
19 Kuwait Al Jahra £3.47
20 Bahrain Manama £3.41
21 The Bahamas Nassau £3.41
22 Austria Wien (Vienna) £3.35
23 Qatar Doha £3.34
24 Oman Muscat £3.33
25 Jordan Amman £3.32
26 China Shanghai £3.31
27 Netherlands Eindhoven £3.30
28 Cyprus Nicosia £3.26
29 Panama Panama City £3.20
30 Chile Santiago £3.17
31 Ireland Dublin £3.17
32 South Korea Seoul £3.14
33 Greece Athens £3.13
34 Taiwan Hsinchu City £3.13
35 Uruguay Montevideo £3.11
36 Japan Tokyo £3.08
37 Thailand Bangkok £3.05
38 Saudi Arabia Riyadh £3.03
39 Costa Rica San Jose £2.95
40 Brunei Bandar Seri Begawan £2.94
41 United Kingdom London £2.90
42 Trinidad and Tobago Trincity £2.75
43 Jamaica Montego Bay £2.69
44 India New Delhi £2.67
45 New Zealand Wellington £2.66
46 El Salvador San Salvador £2.64
47 Andorra Andorra la Vella £2.59
47 Spain Madrid (outskirts) £2.59
49 Kazakhstan Almaty £2.59
50 Canada Toronto £2.55
51 Indonesia Jakarta (outskirts) £2.54
52 Australia Sydney £2.51
53 Slovakia Bratislava £2.50
54 Malaysia Seri Kembangan £2.47
55 Poland Warsaw £2.45
56 Vietnam Ho Chi Minh City £2.45
57 Cambodia Phnom Penh £2.39
58 Czech Republic Prague £2.38
59 Bolivia Santa Cruz £2.35
60 Azerbaijan Baku £2.34
61 Guatemala Guatemala City £2.32
62 Romania Bucharest £2.24
63 Italy Milan £2.23
63 Portugal Lisbon £2.23
65 Peru Lima £2.19
66 Morocco Casablanca £2.18
67 Philippines Quezon City £2.18
68 Hungary Budapest £2.12
69 Brazil São Paulo £1.97
70 Bulgaria Sofia £1.78
71 South Africa Johannesburg £1.77
72 Mexico Mexico City £1.75
73 Argentina Buenos Aires £1.73
74 Colombia Bogota £1.66
75 Egypt Cairo (outskirts) £1.58
76 Turkey Istanbul £1.44

Coffeenomics: Finder’s Starbucks Index 2019

We should expect coffee prices to be higher in wealthier countries and lower in poorer countries since there are a lot of factors impacting the cost of goods and services, including the local cost of raw materials, production and labour costs, taxes, tariffs and retailer pricing strategies.

Finder’s Index looks at the GDP-per-capita value for each country alongside the coffee cost in US dollars to see how far each country deviates from the average. In Denmark, for example, a coffee costs $6.05, whereas the expected coffee cost based on the country’s GDP of over $60,000 per capita is $4.20, meaning the coffee is 44% more expensive than it should be based on GDP. Luckily for Londoners, lattes are 6.97% cheaper than they are predicted to be based upon GDP.

Search the full table by country or index valuation:

Country Local currency Index valuation
Denmark Danish Krone -44.26%
Lebanon Lebanese Pound -35.57%
Finland Euro -35.28%
Russia Russian Ruble -34.45%
Jordan Jordanian Dinar -31.84%
Switzerland Swiss Franc -28.36%
Curacao Antillean guilder -27.60%
China Chinese renminbi -27.03%
Oman Omani Rial -23.09%
Bahrain Bahraini Dinar -20.52%
Thailand Thai Baht -19.00%
Panama United States Dollar -18.90%
Chile Chilean Peso -17.54%
Kuwait Kuwaiti dinar -16.02%
Hong Kong Hong Kong dollar -15.92%
The Bahamas Bahamian dollar -15.45%
Uruguay Uruguayan peso -14.41%
Greece Euro -12.89%
Cyprus Euro -12.71%
France Euro -12.31%
Costa Rica Costa Rican colón -11.81%
Norway Norwegian Krone -11.55%
United Arab Emirates Emirati Dirham -11.27%
Germany Euro -11.11%
Belgium Euro -10.89%
Macau Macanese pataca -10.87%
Taiwan New Taiwan dollar -9.95%
India Indian Rupee -7.75%
Saudi Arabia Saudi riyal -7.57%
South Korea South Korean won -6.82%
Sweden Swedish Krona -6.69%
Jamaica Jamaican dollar -6.01%
Singapore Singapore dollar -5.29%
El Salvador United States Dollar -4.88%
Austria Euro -2.74%
United States United States Dollar -1.53%
Trinidad and Tobago Trinidad and Tobago dollar -1.47%
Indonesia Indonesian rupiah -1.17%
Netherlands Euro -0.66%
Japan Japanese Yen -0.33%
Brunei Brunei dollar 0.17%
Kazakhstan Kazakhstani tenge 0.38%
Luxembourg Euro 1.18%
Vietnam Vietnamese Dong 1.69%
Cambodia Cambodian Riel 3.29%
Qatar Qatari Rial 5.47%
Malaysia Malaysian Ringgit 6.04%
Bolivia Bolivian boliviano 6.19%
United Kingdom British pounds 6.97%
Azerbaijan Azerbaijanian Manat 7.18%
Guatemala Guatemalan quetzal 7.83%
Poland Polish Zloty 9.03%
Slovakia Euro 9.28%
Spain Euro 11.59%
Philippines Philippine peso 12.68%
Morocco Moroccan dirham 12.70%
Ireland Euro 13.55%
New Zealand New Zealand Dollar 14.54%
Peru Peruvian Sol 14.56%
Romania Romanian Leu 15.09%
Czech Republic Czech Koruna 15.31%
Andorra Euro 16.73%
Canada Canadian Dollar 19.59%
Portugal Euro 20.63%
Hungary Hungarian forint 21.32%
Brazil Brazillian Real 23.78%
Australia Australian Dollar 25.15%
Italy Euro 25.29%
Monaco Euro 30.45%
South Africa South African Rand 30.60%
Bulgaria Bulgarian Lev 31.37%
Mexico Mexican Peso 32.86%
Argentina Argentinian Peso 34.19%
Colombia Colombian peso 35.11%
Egypt Egyptian Pound 36.52%
Turkey Turkish Lira 44.39%

It must be noted here that these figures reflect local purchasing power rather than true currency valuation. This is particularly important when looking at countries that share the same currency such as those across the Eurozone. For example, if we look at Monaco, our Index suggests a coffee is 30.4% cheaper than it should be. Compare this to Finland, where the Index suggests a coffee is actually 35.3% more expensive than it should be.

Coffeenomics: Finder’s Latte Line

Our Latte Line is the GDP-weighted index average, showing a correlation between the price of coffee and GDP. For example, in the bottom left corner of the graph, you can see the correlation between a cheap tall latte and a weaker GDP in countries like Turkey, Egypt, Colombia and Argentina. On the far right of the Latte Line, you can see Luxembourg with a high GDP and a more expensive coffee price. However, within that trend, there are a few outliers, such as Monaco and Denmark. In Monaco, the cost of a tall latte is cheaper than you might expect given its strong GDP. In the case of Denmark, you can see that the sky-high cost of a coffee doesn’t correlate to GDP in the same way it does in many other countries.

Country GDP per capita in USD ($'000) Price in USD
Cambodia 1.22619818 $2.39
India 1.634498414 $2.68
Egypt 2.067126368 $1.58
Vietnam 2.079046951 $2.45
Philippines 2.516053895 $2.18
Morocco 2.62569082 $2.18
Bolivia 2.877644906 $2.35
Indonesia 3.157413686 $2.54
El Salvador 3.290891777 $2.64
Jordan 3.444642967 $3.32
Guatemala 3.688893276 $2.32
Azerbaijan 3.828534389 $2.34
Jamaica 4.342984574 $2.68
South Africa 5.14093379 $1.77
Colombia 5.393698801 $1.65
Peru 5.633732305 $2.19
Thailand 5.898336806 $3.05
Lebanon 6.706179295 $3.50
Brazil 7.234090819 $1.97
Bulgaria 7.519373882 $1.78
Turkey 7.550837734 $1.44
Kazakhstan 7.566731844 $2.59
Mexico 7.864422044 $1.74
China 7.923376219 $3.31
Malaysia 9.113974836 $2.47
Russia 9.154439944 $3.53
Argentina 9.449373002 $1.74
Costa Rica 9.752577486 $2.95
Romania 9.975338309 $2.25
Poland 12.50769178 $2.45
Panama 12.63022239 $3.20
Chile 12.91266722 $3.17
Hungary 12.92515545 $2.12
Oman 13.31448006 $3.33
Trinidad and Tobago 13.65896058 $2.76
Uruguay 14.01114487 $3.11
Curacao 15.77855373 $3.52
Slovakia 15.85105034 $2.50
Greece 16.48146265 $3.12
Czech Republic 18.62943814 $2.38
Portugal 18.76940363 $2.23
Saudi Arabia 18.82892545 $3.02
Bahrain 19.50337094 $3.41
Taiwan 20.29418402 $3.12
Cyprus 22.83505219 $3.26
Spain 24.75256308 $2.59
South Korea 25.43284723 $3.15
Brunei Darussalam 25.64766099 $2.94
The Bahamas 25.8343357 $3.41
Kuwait 27.76928146 $3.46
Italy 27.8296142 $2.23
Japan 31.85852791 $3.07
France 33.62382837 $3.49
New Zealand 34.03123658 $2.66
Andorra 34.08297354 $2.59
United Kingdom 34.45729605 $2.90
United Arab Emirates 34.87370553 $3.48
Canada 37.40362622 $2.55
Belgium 37.75345884 $3.53
Germany 39.08296873 $3.56
Hong Kong 39.50602779 $3.73
Finland 40.51392522 $4.38
Austria 41.77304692 $3.35
Netherlands 42.96145604 $3.30
Sweden 43.88071949 $3.52
Australia 46.4702431 $2.51
Denmark 49.13842633 $4.91
United States 50.79709028 $3.49
Singapore 52.37101268 $3.65
Qatar 55.97524549 $3.34
Ireland 62.80582052 $3.17
Norway 66.33942185 $4.17
Switzerland 67.17605214 $4.82
Macau 70.02766639 $4.22
Luxembourg 92.72145562 $4.20
Monaco 135.2021959 $3.53

How did we do the research?

Collecting the data:

We asked individuals in 76 countries around the world to purchase a hot Starbucks tall latte from a store in their city and tell us how much it cost. We looked at the cost of a coffee in nearly every country where Starbucks operates; however, we could not source the data for some countries, such as Malta and Puerto Rico. The individuals were required to send us three photos; a picture of them with the coffee, an image of the receipt and a photo of the coffee menu. You can see our participants here:

Calculations used

Coffee Cost: Local coffee prices were converted to US dollars using the exchange rate on 12 September 2019 according to Countries were then ranked based on the cost of the coffee in US dollars.

Starbucks Index: The USD coffee cost figure was plotted against GDP per capita for all countries. The resultant trendline was used to determine the average increase in coffee cost against an increase in GDP. The final index valuation is the difference between each actual plot point and the trendline – or how far each country differs from the average.

Rankings: The cost of coffee was round to the nearest two decimal places. Where prices were exactly the same, we gave them the same ranking.

Limitations of the research

The cost of a Starbucks coffee can vary significantly due to a range of variables across a country or city. Given only one coffee price was used per city/country, the data may not be representative of the area as a whole. Also, different countries measure their GDP in different ways, so the data in this study should be considered as an indicator rather than an exact measure of index value.

All trademarks, logos, and brand names are property of their respective owners. All company, product and service names used on this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

Starbucks® and the Starbucks logo are either registered trademarks or trademarks of Starbucks Corporation within Australia and/or other countries.

Finder is not affiliated with or an official partner of Starbucks. We disclaim proprietary interest in the marks and names of others.

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