... very expensive. While traveling throughout Australia, my perception is everything is very expensive. People here say salaries are high too, but that is not the point. Does it make sense? I guess, yes. When you are trying to store away some cash, you look for healthy countries, and despise their problems, the reality is it is a huge country full of natural resources and almost no population. Besides they didn't get too crazy with the "money printing" schemes.
In any case, amazingly the Big Mac Index doesn't show a very expensive AUD:
Switzerland is again the winner, as we all know. But also the USD is a little bit overpriced in comparison with the EUR.