54 sats \ 4 replies \ @TheMorningStar 26 Sep \ parent \ on: Consumer Spending Warning Signs: Restaurants & Retail Hit the Skids econ
I'm also shocked. I think most of the Indians will be shocked. In this amount a family of 4 people can easily eat good and healthy food for a month here. So many people don't even get as much salary. India is different. The costs of living are way too less than the West.
When a small town taps into international tourist demand, prices can go nuts.
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Sir, I understand that but @coinsreporter was right. There's a huge difference between India and US on this. For tourist destinations in India prices are higher on season but not as nuts as there. The charges in hotels with every facility, you won't pay more than 30 or 40 dollars in season. But it's okay, I've clms to know that the difference in wages is also huge.
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The difference in labor costs and other inputs will play a role. I'm from a fairly remote place, with no significant nearby labor pool and shipping building/maintenance materials is quite expensive, as are food and other supplies. There's also no viable location for a competitor to enter the market.
It's kind of a perfect storm that leads to crazy prices.
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Definitely a of these play a very big role. Into the remotest locations in India, the costs are comparatively much lesser. I'm just thinking if only a day India reaches to US standards, the purchasing power of rupee will be 100× lesser from today. Will it not be a economic catastrophe for now very cheap country in comparison. The prices are also rising here for so many things.
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