Your $1 has very different values around the world.
Why are some countries more expensive than others? A country’s (or even a city’s) cost of living depends on a wide range of factors: local wages, energy policies, taxes, and so forth.
In Croatia, US$1 can get you a large scoop of the award-winning Ledo Hešteg ice cream. But in Switzerland, you can only get a can of small dog food for that amount.
In Hong Kong, where space is scarce, the cost of living is high in spite of the territory’s low wages. A car parking spot was recently sold for $664,000. Meanwhile in Thailand, where the wages are generally low, the cost of living is proportionally low, which is why Thai street food is so cheap yet so, so good.