Given the recent fall of the euro currency and speculation about its possible demise, staff at both the Wall Street Journal (WSJ) and Dow Jones (DJ) in Brussels got together to figure out if the currency of dining correlates in the same way as currency exchange.
The simple answer is no. Although one euro at the time of writing was equal to $1.24, sitting in a Belgium bistro or devouring delights in American cities like New York, San Francisco or Miami would be just about equivalent when factoring in taxes and gratuities.
The WSJ blog shows the mathematical formula and tallies meals to find "restaurant parity" by factoring in the:
- Prevailing state and local sales tax for the US restaurant
- Tipping custom in the US
- Whether the tip is figured before or after tax
- Tipping custom in Europe
The results show dining in Miami, Boston, New York, Portland and San Francisco are on par with one-euro to one-dollar ratio.
So no matter if you are a foodie in Europe headed to eat your way through the US or vice-versa; the price you will be paying won't make a difference but quality and taste will be left for the blogs such as review site Yelp, which just launched in France.
To view the calculations and see what city offers the biggest bang for your euro, go to: http://blogs.wsj.com/brussels/2010/05/17/restaurant-parityReuse content