Start saving: TWO Canadian cities TIE for most expensive
Wednesday, June 27, 2018, 12:48 PM - Start saving, Vancouverites and Torontonians: these are Canada’s two most expensive cities to live in, according to the Mercer Cost of Living Survey.
The survey is conducted every year by looking at constantly fluctuating factors such as housing, transportation, food, clothing, household goods, and entertainment. The goal is to determine the cost of doing international business in various cities and to examine how housing market instability and inflation, among other varying factors, affect this.
Five Canadian cities made the list this year, all in different spots than last year. Toronto and Vancouver tied for the 109th spot.
(READ MORE: Toronto is Canada's WORST city for commuting)
Toronto rose from 119 to 109 after an increase in rental accommodation costs. Vancouver, Montreal, and Calgary dropped two, 18, and 11 spots, respectively.
According to PadMapper’s February 2018 survey, Toronto’s average rent for a one bedroom apartment is $2,060. Vancouver comes in slightly less at $1,990.
However, Vancouver and Toronto paled in comparison to cities that were higher up on this year’s list.
The most expensive city to see the world premiere of a new movie in is London, United Kingdom at approximately $23 USD. Moscow is home to the most expensive pair of blue jeans at just over $150. You can get a $10 coffee in Seoul, then head over to Zurich for a $14 hamburger. After all that traveling you’ll probably need some gas, just don’t go to Hong Kong; it’ll run you about $2 per liter.
Asian cities took six out of the top 10 spots. Hong Kong ranked the #1 most expensive city in the world.
Image courtesy of Mercer.
According to their website, Mercer is the “leading provider of data on cost of living and housing for employees sent to work abroad.” They look at these costs for 200+ of the world’s most prevalent assignment destinations for expatriate employees.