Vancouver remains the most expensive Canadian city to live in, followed by Toronto, Montreal and Calgary in fourth place, according to Mercer’s 2014 Cost of Living Survey.
However, compared to other international cities, Canada has dropped substantially in the rankings.
Vancouver fell 32 places since last year, for a new ranking at 96. Toronto (101) dropped 33 spots, while Montreal (123) fell 28 spots. Calgary, close behind Montreal, dropped to 125.
“The Canadian dollar weakened significantly against the U.S. dollar, which accounts for the major slips we saw in this year’s ranking,” explains Luc Lalonde, a principal with Mercer Canada. “Furthermore, prices have increased at a slower pace in Canadian cities than in New York, our base city.”
Two African cities top the list of most expensive cities for expatriates: Luanda, Angola is the world’s most expensive city for the second year in a row followed by N’Djamena, Chad.
European and Asian cities also continue to dominate as the costliest cities with Hong Kong in third place, followed by Singapore. Zurich jumped three places to rank fifth, followed by Geneva in sixth.
Tokyo dropped four spots to rank seventh. Other cities appearing in the top 10 costliest cities are Bern, Moscow and Shanghai.
The annual survey ranks the most expensive cities for expatriates around the world, measuring the comparative cost of over 200 items in each location, including housing, transportation, food, clothing, household goods and entertainment.