Toronto ranks as Canada’s most expensive city for 2nd year in a row: survey | 24CA News
Toronto is the costliest metropolis in Canada, a brand new survey says.
Mercer’s Cost of Living Survey means that Toronto ranked as the costliest metropolis within the nation for the second yr in a row.
Out of 227 cities throughout 5 continents, Toronto ranked because the ninetieth costliest on the survey, dropping one spot from final yr.
According to Mercer, the survey contains greater than 400 cities all through the world, with this yr’s rating together with 227 cities in 5 continents.
Mercer stated the survey measures the comparative value of over 200 gadgets in every place, akin to housing, transportation, meals, clothes, family items and leisure.
Rounding out the highest 5 costliest cities in Canada had been Vancouver, Montreal, Ottawa and Calgary, inserting within the 116th, one hundred and thirty fifth, 137th and 145th spots, respectively.
“Through the Cost of Living Survey, we see that despite domestic inflationary pressures that are affecting overall quality of living, Canada continues to be an attractive destination for remote workers,” Nicole Stewart, Principal, Career at Mercer Canada stated in an announcement.
Stewart stated “extensive remote work flexibility” is inflicting many workers to re-shift their priorities and “think differently about where they want to work and live.”
She stated this shift will proceed to drive organizations to “develop effective compensation strategies for their globally distributed workforces.”
According to the survey, Canadian cities did rank on the cheaper finish of the rating for North America, with three U.S. cities touchdown within the prime 20.
New York City ranked within the sixth spot. Los Angeles and San Francisco additionally made the highest 20 touchdown within the eleventh and 14th spots respectively.
Meanwhile, every of the 5 costliest Canadian cities dropped in rating order from final yr, the survey stated.
The costliest metropolis in line with the survey is Hong Kong, adopted by Singapore and Zurich. Rounding out the highest 5 are Geneva and Basel.
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