A report from HR consultants Mercer shows that the cost of living for foreigners relocating due to work has fallen in Vancouver, Toronto, Montreal and Calgary, mainly due to the weaker loonie.
“While the cost of living continues to rise in Vancouver and Toronto for locals, the weak Canadian dollar has made these cities compelling for expatriates from organizations outside the country,” said Gordon Frost, Talent Leader, Mercer Canada.
Vancouver is now ranked 142nd
in the Cost of Living Survey, which considers cost factors including housing, transportation, food, clothing, household goods, and entertainment.
While Vancouver slipped just 3 spots from last year, Toronto is down 17 spots (to 143), Montreal is down 15 spots (155) and Calgary slipped 16 spots (162).
Hong Kong tops the rankings as the most expensive city followed by Luanda, Angola; Zurich, Singapore and Tokyo.
South of the border, New York (11), San Francisco (26) and Los Angeles (27) have all become more expensive since the last survey.
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Canadian cities have become more attractive to multinational companies looking to relocate employees here.