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Vancouver most expensive city in Canada (again), according to new ranking

Last Updated Jun 23, 2021 at 10:04 am PDT

Downtown Vancouver, including the Burrard Street Bridge and Granville Island, are seen from the NEWS 1130 Air Patrol on Dec. 5, 2018. (Riley Phillips, NEWS 1130 Photo)
Summary

Vancouver ranks 93rd in global ranking of costliest cities

Among Canadian cities, Toronto and Montreal follow Vancouver

Ashgabat in Turkmenistan tops list, pushing Hong Kong down to second; Beirut jumps 42 spots to 3rd

VANCOUVER (NEWS 1130) – Vancouver has once again ranked as the most expensive city to live in Canada.

The latest cost of living survey from international investment management firm Mercer puts Vancouver at number one, followed by Toronto and Montreal.

The data is aimed at helping companies decide how much they should be paying their international employees. It looks at things like housing costs, inflation, currency fluctuations, and the prices of hundreds of everyday goods.

“Cost of living has always been a factor for international mobility planning, but the pandemic has added a whole new layer of complexity, as well as long-term implications related to health and safety of employees, remote working and flexibility policies, among other considerations,” said Ilya Bonic, career president and head of Mercer Strategy.

Cost of living city ranking mercer

Globally, Vancouver ranks near the middle of the pack, rising one spot since last year to 93rd on the list of 209 cities. Toronto is close behind at 98th.

The title of least expensive city in Canada goes to Ottawa, which ranked 156th overall.

Beirut, Lebanon jumped 42 spots up the list compared to last year, sitting now as the third-most expensive city globally. This comes as the country continues to grapple through a severe economic depression, exacerbated in part by an ongoing financial crisis, the COVID-19 pandemic, and a massive explosion at the Port of Beirut in August 2020.

Ashgabat in Turkmenistan tops the list, kicking Hong Kong down to the second spot. Bishkek, the capital of Kyrgyzstan, is ranked as the least costly city of 209 globally.

A look at the 10 most expensive cities in the world and the 10 least expensive cities. (Courtesy Mercer)