Canada's most expensive city identified
This is the second year this city has maintained its status.
The latest cost-of-living study by international investment management firm Mercer puts Vancouver in first place, followed by Toronto and Montreal.
This data is designed to help companies decide how much they should pay their international employees. It takes into account such things as housing costs, inflation, currency fluctuations and the prices of various everyday goods.
"The cost of living has always been an important factor in international mobility planning, but the pandemic has added a new level of complexity as well as long-term implications related to employee health and safety," said Ilya Bonich, career president and head of Mercer Strategy.
Vancouver is in the middle of the overall ranking of world cities, having risen by one position from last year to 93rd place in the list of 209 cities. Toronto is only a few positions behind at 98th place. The cheapest city in Canada is Ottawa, ranked 156th.
Ashgabat in Turkmenistan topped the list, dropping Hong Kong to second place. Bishkek, the capital of Kyrgyzstan, is considered the cheapest city out of 209 cities in the world.
