Money

Montreal Was Just Ranked The Third Most Expensive City In Canada

It moved up 8 spots in the global ranking.

Montreal is the third most expensive city in Canada for expats, according to a new ranking.

Vancouver is still the most expensive, Toronto is second, Calgary is fourth and Ottawa comes in fifth, but overall, Montreal still a comparably affordable place to live for overseas workers, according to this year's Mercer Cost of Living Survey.

Editor's Choice: Quebec Green Zone Rules You Need To Know For Next Monday In Montreal

Despite the loonie gaining strength relative to the U.S. dollar, "globally, Canada remains a relatively affordable place to live and an attractive destination for remote workers," Gordon Frost, partner at Mercer Canada, stated in a news release.

Using New York City as a baseline, the survey ranks 209 cities according to the cost of necessities such as transportation, housing, clothing, food, and entertainment.

The world's most expensive cities for expatriates are Ashgabat, Turkmenistan; Hong Kong, and Beirut, Lebanon, which climbed 42 spots this year thanks to economic turmoil compounded by the pandemic and the Port of Beirut explosion, according to the report.