To make comparisons in living standards across countries, economists use specially adjusted exchange rates. The figures in this calculation are given in Purchasing Power Parity (PPP) dollars. One PPP dollar is equal to 1 US dollar spent in the US. But a US dollar goes further in some countrie...
Places like Nigeria and India have jumped up the list due to their lower price levels, while countries including Denmark, Australia and Japan have fallen because they are relatively expensive places to live. In general accounting for purchasing power lessened the difference between countries, but sig...