US has very different subsidy and pricing system than most other countries -- even Canada and Mexico are dramatically different. US has very low taxes on alcohol, making bar drinks cheap by world standards, and has farmer subsidies that allow many foods to be sold at retail for below the cost of production. Also in Australia all taxes are included in the listed price in stores, while in US up to 5 separate taxes are added to the bill upon checkout (varies by location). Similarly for hotel rooms the Australian price includes all fees and taxes (by law), while in the US up to 30% extra is added to that "lower" hotel price. Sydney and lately Melbourne are priced comparably to NYC and Boston and Washington DC and Miami, admittedly more expensive than cities with a glut of hotel rooms and restaurants, such as LA. But smaller towns in Australia such as Daylesford are priced similarly to US equivalents (Carmel in that example), even with the current exchange rate. Do a fair comparison and see for yourself.