Previously, Toronto ranked 119, while Vancouver was listed as the 107th most expensive city in the world. This year, both cities came in at 109th among all international cities surveyed.
“While Toronto’s cost of living ranking has risen, this year’s results – combined with the results of Mercer’s annual Quality of Living Survey released recently – show that Canadian cities provide a world-class quality of living at a relatively moderate cost,” said Gordon Frost with Mercer Canada.
“This is a significant strength for Canada and Canadian companies as we compete for top talent in a highly competitive global economy and prepare for the workforce of the future.”
Meanwhile, Montreal and Calgary fell 18 and 11 spots respectively, coming in at 147th and 154th most expensive cities. Ottawa was listed at 160, the least expensive Canadian city to make the ranking.
The survey is designed to help companies and governments determine compensation and living costs for expatriate employees. A total of 375 cities were surveyed, with 209 making the list.
The survey examines the costs of things such as housing, transportation, food, clothing, household goods and entertainment.
The most expensive city to live in? This year, it’s Hong Kong, followed by Tokyo, Zurich, Singapore and Seoul.
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