Soup Dumpling Index: How prices compare around the world
Din Tai Fung has opened a popular location in New York City, where xiao long bao prices are highest globally, influenced by local demand and purchasing power, contrasting with cheaper options in Asia.
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Din Tai Fung, a renowned Taiwanese restaurant chain famous for its xiao long bao (soup dumplings), has recently opened a location in New York City, which has become a popular dining spot despite its high prices. A new analysis, dubbed the Soup Dumpling Index, compares the prices of these dumplings across various global cities. The findings reveal that New York, Las Vegas, and London are among the most expensive places to enjoy Din Tai Fung's offerings, while Kuala Lumpur and Taipei are the cheapest. The price disparity can be attributed to factors such as purchasing power parity, where the cost of living and labor is significantly lower in Asia compared to Western cities. For instance, in New York, ten dumplings cost $18.50, whereas in Taipei, twelve dumplings can be purchased for approximately $7.60. The high demand in Manhattan, driven by both tourists and affluent locals, allows the restaurant to maintain its elevated prices without the need for reductions. Din Tai Fung has over 170 locations worldwide, with its first international branch opening in Tokyo in 1996. The restaurant's meticulous preparation process for its dumplings, which includes a 12-week training period for chefs, contributes to its reputation and pricing.
- Din Tai Fung's xiao long bao are most expensive in New York, Las Vegas, and London.
- Kuala Lumpur and Taipei offer the cheapest prices for the dumplings.
- The price differences reflect local purchasing power and labor costs.
- High demand in Manhattan allows the restaurant to maintain premium pricing.
- Din Tai Fung has over 170 locations globally, with a focus on the Pacific Rim.
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7 commentsAt least some of the hype is that a Hong Kong location earned a Michelin star, but the Seattle branch is strictly okay.
Then you live in the real world and realize it's not as good metric as you think it is.
Recently when returning to Europe, after the start of the Ukraine war (+ inflation) a lot of my friends asked if food prices had also went up in Japan. I said yes but not as much as Europe. Price of wheat surely went up but everyone eats rice there, so except for bakeries (not many of them) most people didn't feel much.
Bigmac index is not made or supposed to catch the difference in those details, but it seems like one of those economic metrics that are too often misused.
When the "happiness" index said Finland was a the happiest place, the first one to burst out laughing about how silly it is was my dad, a Finnish guy.
The legitimacy of an academic/scientific field can be somewhat roughly measured by how rigorous their measurement instruments and units are, and the conclusions the scientist try to make out of it.
Big Macs and the Cost of Living Crisis - https://news.ycombinator.com/item?id=41169538 - Aug 2024 (62 comments)
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