(Montreal) Toronto remains for a third consecutive year the most expensive city in Canada, according to a ranking by the consulting firm Mercer which looks at the cost of living.
The Ontario capital still looks better than last year. She went from 90e at 92e ranked out of 226 cities spread across five continents. Mercer says Toronto is the only Canadian city on the list whose affordability has improved.
Vancouver climbed 15 places to 101e world rank, remaining the second most expensive city in the country. Montreal took 118e rank, representing a jump of 17 places compared to last year.
Ottawa and Calgary also moved up in the rankings, taking 126e and 141e ranks, respectively. This is an increase of 11 places for the federal capital and four for the Alberta city.
Mercer notes that Canadian cities tend to be at the bottom of the ranking among North American cities. Conversely, all cities in the United States are in the top 100, the firm points out.
“While concerns about the cost of living remain, the job market continues to demonstrate strength and Canada remains an attractive destination for workers coming from abroad,” said Vince Cordova, Head of Services- mobility consulting for North America at Mercer, in a press release Monday.
Hong Kong and Singapore topped the chart, mainly due to the high cost of rental housing, according to Mercer’s survey.
“These important economic centers also attract a large number of expatriates, which further increases the cost of goods,” the firm added.
THE top 5 is completed by three Swiss cities, Zurich, Geneva and Basel.
Mercer’s study compares prices charged in 226 cities around the world for more than 200 products and services such as transportation, food, clothing, household products and entertainment.