This city ranks as the most expensive in Canada for second year in a row
In news that probably won’t surprise its residents, Toronto tops Mercer’s annual Cost of Living Survey as the most expensive city in Canada.
For the second year, Vancouver is the second most expensive city in the country, followed by Montreal, Ottawa, and Calgary. But even as we bemoan the high cost of living in Canada, it’s still affordable to live here compared to other places.
“Canadian cities are at the cheaper end of the ranking for North America with all having modest drops in the ranking since last year’s survey,” reads the survey.
Toronto’s ranking actually dropped by one spot — it’s now the 90th most expensive city globally. Vancouver’s ranking fell by eight spots from 108 last year to 116 this year. Montreal had a more significant drop — it fell 10 spots to 135. Ottawa fell by five spots to 137, while Calgary dropped four spots to 145.
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Mercer’s survey ranks 227 cities across five continents and measures various factors, including the cost of housing, transportation, food, clothing, household goods, and entertainment.
“Through the Cost of Living Survey, we see that despite domestic inflationary pressures that are affecting overall quality of living, Canada continues to be an attractive destination for remote workers,” said Nicole Stewart, Principal, Career at Mercer Canada.
Living in major Canadian cities might be expensive but it’s nowhere near as bad as other cities around the world.
Hong Kong once again remains the most expensive city, followed by Singapore (up six spots), with Zurich in third place. Meanwhile, the least expensive cities in the world are Havana (225), Karachi (226), and Islamabad (227).
5 most expensive cities in Canada:
- Toronto
- Vancouver
- Montreal
- Ottawa
- Calgary
10 most expensive cities in the world:
- Hong Kong, Hong Kong (SAR)
- Singapore, Singapore
- Zurich, Switzerland
- Geneva, Switzerland
- Basel, Switzerland
- New York City, United States
- Bern, Switzerland
- Tel Aviv, Israel
- Copenhagen, Denmark
- Nassau, Bahamas
10 least expensive cities in the world
- Islamabad, Pakistan (least expensive)
- Karachi, Pakistan
- Havana, Cuba
- Bishkek, Kyrgyzstan
- Dushanbe, Tajikistan
- Windhoek, Namibia
- Ankara, Turkey
- Durban, South Africa
- Tunis, Tunisia
- Tashkent, Uzbekistan
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