Think you’re paying through the nose to live where you are right now? That’s probably the case to be honest, but it might not be as bad as you think. A new report of the global cost of living for 2022 has come out, and Canadian cities are surprisingly low on the list. Let’s check it out!
Published by the multinational asset management firm Mercer, the Cost of Living City Ranking reveals the most expensive cities in the world for international employees. Why international? Well, it makes it easier to standardize the cost of living across different countries.
What are the costliest and most affordable cities for expats? Find out in our updated 2022 ranking of over 200 global cities. https://t.co/bsVw370VDx #HR #FutureofWork #expat pic.twitter.com/yh74wV7niO
— Mercer (@mercer) June 29, 2022
And boy, do they have a lot of standardizing to do. Their Cost of Living Index looks at over 200 items for 10 different categories, being:
- Domestic Supplies
- Home Services
- Personal Care
- Clothing & Footwear
- Recreation & Entertainment
- Alcohol & Tobacco
Bundle that all together, weight it (probably more important to have a place to live than a 6-pack of beer) and you arrive at the list! Out of over 200 cities around the world, Canadian cities landed surprisingly low on the cost of living front.
- Toronto, Ontario (Overall Rank: 89)
- Vancouver, BC (Overall Rank: 108)
- Montreal, Quebec (Overall Rank: 125)
- Ottawa, Ontario (Overall Rank: 132)
- Calgary, Alberta (Overall Rank: 141)
At least by this measure, it’s still cheaper to live in some of Canada’s most expensive cities than it is to move to places like Hong Kong, Geneva, or New York. Heck, even Philadelphia is apparently more expensive, landing at number 70 on the list.
Huh, well, the more you know!