Mercer’s Cost of Living Survey is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. Cities are ranked against New York City and costs are ranked against the US dollar.
Vancouver has risen 35 places in 2017 compared to last year but remains well down the global rankings at number 107 with Toronto at 117. Montreal (129), Calgary (143) and Ottawa (152) are also on the list.
“Although the cost of living in Vancouver or Toronto may be high for locals, both cities remain attractive destinations for expatriates placed by organizations outside the country,” says Gordon Frost, Partner and Leader of Mercer Canada’s Career business. “Global costs give us some perspective: compared to the rest of the world, even with a strong dollar, Canada remains relatively affordable.”
The most expensive city for firms to relocate employees is Luanda in Angola followed by Hong Kong, Tokyo, Zurich and Singapore.
More market update:
Vancouver has overtaken Toronto as Canada’s most expensive city for expatriates according to an annual ranking.