Canadian Cities Among World’S Most Expensive - Or Are They?
This week, wealth management and investment banking giant UBS released a study ranking the world’s most expensive cities. The study included a standardized survey of prices and wages in 73 cities around the world.
The strength of the Canadian dollar relative to the study’s benchmark currency, the U.S. dollar, led to Toronto and Montrealjumping into the top ten this year. Anyone living in Vancouver, B.C. might question why it didn’t make the list. Vancouver was not among the 73 cities included in the study.
1. Oslo, Norway 2. Zurich, Switzerland 3. Geneva, Switzerland 4. Tokyo, Japan 5. Copenhagen, Denmark 6. New York, U.S.A. 7. Stockholm, Sweden 8. Toronto, Canada 9. Montreal, Canada 10. London, U.K.
UBS also compared purchasing power of residents of these cities. While Switzerland is among the most expensive countries, take-home wage levels in Geneva and Zurich are also among the highest of those surveyed. In this ranking, Toronto and Montreal rank 13th and 16th, respectively.
Does the survey truly reflect the cost of living for residents living in these cities? Any cities that you think should be on the top ten list? Tell us on our Centum Facebook page.