Vancouver ranked most expensive city in Canada

  • Vancouver ranked most expensive city in Canada

Vancouver ranked most expensive city in Canada

Aberdeen has dropped 61 places to 146th on a list of the world's most expensive cities for expatriate employees, according to a global index. London fell 13 places to No 30 in the table, thanks to the drop in sterling against the dollar. Luanda's rise to the top was driven by cost of goods and security, Mercer said. Hong Kong was second, Tokyo third, Zurich fourth and Singapore fifth. "The Mercer Cost of Living data helps multinational companies to determine the allowances to apply for their expatriate population". "Overall, US cities either remained stable in the ranking or have slightly increased due to the movement of the US dollar against the majority of currencies worldwide", said Mercer.

"The strengthening of the Japanese yen along with the high costs of expatriate consumer goods and a dynamic housing market pushed Japanese cities up in the ranking", said Nathalie Constantin-Métral, Principal at Mercer with responsibility for compiling the survey ranking.

Dethroned previous year by the Chinese city, Luanda regained the dubious honor despite the depreciation of the kwanza currency against the U.S. dollar, the survey by the Mercer consulting group found.

The other seven cities in the list were Zurich, Singapore, Seoul, Geneva, Shanghai, New York City, and Bern.

Mercer's annual survey, which uses NY as its benchmark and is similar to the ECA survey published earlier this month, looks at the cost overseas assignees can expect to pay for accommodation and compares the cost of 200 items, including clothes, entertainment, food and transport, in 209 cities worldwide.

The falls for United Kingdom cities came as a result of the pound weakening against the USA dollar following the Brexit vote, the index said.

"Although this year's movements were due mainly to currency fluctuations, in particular against the U.S. dollar, we did see cities - such as Mumbai - move up the ranks due to their strengthening economy and growing opportunities". The Russian ruble's gains saw Moscow and St. Petersburg soar up the rankings to 14th and 36th place, respectively. "The survey identifies cost pressures on expatriate rental accommodation as a key factor in maintaining Dublin's relatively high ranking when compared to other Eurozone cities" added Mr. O'Connor.

Mercer just revealed its list of most expensive cities in the world for expatriates and it shed light on various aspects.

Toronto, which placed only a single spot behind Vancouver past year, was still the second most expensive in Canada but fell 12 spots below Vancouver to 119 in the world. Karachi (201) and Bishkek (208) remain the region's least expensive cities for expatriates.