A cup of coffee during the day has become a necessity for many. Currently, there are approximately 2.25 billion cups of coffee consumed worldwide each day.Over the course of the next five years, Starbucks Corporation plans on opening at least 1,500 new locations in the United States alone. Starbucks hopes to have 20,000 cafes worldwide by 2014. That is a lot of coffee. There is no doubt that Starbucks holds a large marketshare in the coffee industry. At roughly $4 a latte, Starbucks has managed to pull in 11.7 billion in revenue last year.

But is Starbucks the best place to go for your coffee, or is it just a facade of overpriced lattes and sub-par coffee? For the coffee connoisseur where is the best place for a cup of joe, and where is the price most reasonable?

Most Expensive
The price of products vary drastically around the world for complex reasons, and coffee is no exception. While the average cup of coffee may seem high coming in at around $3.75 in New York City, it's pennies compared to the average in Moscow totaling $10.19.The winner in this category, however, is a cup of coffee from Indonesia. The coffee beans are around $600 per pound and are partially digested by a small animal known as the palm civet. Many claim that the coffee has a unique flavor with no bitter taste. A cup of this coffee will run you about $50.

Cheapest Coffee
On the lower end of the spectrum, roughly 50 cents will get you a standard cup of coffee in Vietnam, and just over $2 will get you a cup of coffee in Argentina. In the past year, the International Coffee Organization reported a drop in the average price of a pound of coffee by 24%. This doesn't mean, however, that the price of indulgent lattes will be decreasing any time soon. With McDonald's entering the coffee business and pricing their cups for just over $1, and a cup going for between $2 to $4 at Starbucks, it really comes down to a matter of preference when you are choosing where to purchase your coffee.

Best Java
The coffee connoisseur may argue that money is no object when it comes to enjoying a warm cup of java. Whether you are paying 50 cents or $10 for a cup of coffee, no one wants coffee that is bitter and tastes horrible.

Here are four of the best places to get a cup of coffee around the world:

Havana, Cuba - With its homegrown beans and espresso-sized cups you can't go wrong indulging in a cup from Havana.

Melbourne, Australia - Coffee is an integral part of the city's social scene, so you won't have to go far to find a delicious cup of java. There are cafes on almost every street corner.

Istanbul, Turkey - Turkish coffee is served as a thick brew. It isn't your average cup of coffee, but it's still delicious.

Seattle, Washington - Overly abundant in coffee and the land of the first Starbucks, Seattle has become known for many different coffee shops.

The Bottom Line
A daily routine for some, or an opportunity to catch up with friends for others, a cup of coffee means different things to many different people. Some will argue that the more you pay for coffee the better it will taste and those people are on the hunt for the best brewed cup of coffee available. Conversely, others are quite content paying for their coffee with pocket change. Regardless of what you prefer, there are many alternatives all around the world. With certain coffees priced in the double-digits for a single cup, it has to make you wonder if it is really worth the cost. One thing is for sure though, coffee's popularity has made it a global commodity.

Related Articles
  1. Budgeting

    The Honest Company Bundles Review: Are They Worth It?

    Learn more about The Honest Company and its bundle subscription services, which deliver discounted diapers, formula and other baby products to your doorstep.
  2. Budgeting

    Blue Apron Review: Is It Worth It?

    Read about one of the top meal-kit delivery services in the United States, and learn more about what it offers and how much it costs.
  3. Stock Analysis

    JCPenney's Path To Profitability (JCP)

    Learn about what J.C. Penney's management team has been doing to profitably grow its business as the company recovers from years of revenue declines.
  4. Home & Auto

    The Latest Airbag Recalls: What to Do

    The latest warnings are from Honda/Acura and Dodge. How to look up your car – and what to do if you find it on the recall list.
  5. Economics

    What is a Complement?

    A good or service that’s used in conjunction with another good or service is a complement.
  6. Retirement

    Ipsy Review: Is It Worth It?

    Discover the history of ipsy, how much packages cost, options available for membership, major competition and what the future looks like for the company.
  7. Stock Analysis

    The Biggest Risks of Investing in Johnson & Johnson Stock (JNJ)

    Learn the largest risks to investing in Johnson & Johnson through fundamental analysis and other potential risks. Also discover how JNJ compares to its peers.
  8. Budgeting

    Craft Coffee Review: Is It Worth It?

    Learn more about one of the first and most flexible specialty-grade coffee subscription services on the market, a perfect fit for any coffee lover.
  9. Budgeting

    Plated Review, Is It Worth It?

    Take a closer look at the ready-to-cook meal service, Plated, and learn how the company can help you take the hassle out of home cooking.
  10. Investing

    Barbie's Body Wasn't the Problem (opinion)

    Barbie's body type wasn't what killed sales, argues Angela Travillian. Other factors were at play.
RELATED FAQS
  1. How does a cost-of-living adjustment (COLA) affect my salary?

    Some companies build salary adjustments into their compensation structures to offset the effects of inflation on their employees. ... Read Full Answer >>
  2. Where can you buy NetSpend reload packs?

    You can only purchase NetSpend reload packs at Giant Eagle, Albertsons, Roundy's and Pathmark supermarkets. NetSpend cards ... Read Full Answer >>
  3. What does marginal utility tell us about consumer choice?

    In microeconomics, utility represents a way to relate the amount of goods consumed to the amount of happiness or satisfaction ... Read Full Answer >>
  4. What are some common ways product differentiation is achieved?

    There are many ways to achieve product differentiation, some more common than others. Horizontal Differentiation Horizontal ... Read Full Answer >>
  5. What is the difference between an OEM (original equipment manufacturer) and a VAR ...

    An original equipment manufacturer (OEM) is a company that manufactures a basic product or a component product, such as a ... Read Full Answer >>
  6. Is the retail sector also affected by seasonal factors?

    Generally speaking, the retail sector is highly seasonal. Almost invariably, sales in the retail sector are highest in the ... Read Full Answer >>
Hot Definitions
  1. Black Swan

    An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult ...
  2. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  3. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  4. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
  5. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
Trading Center