The index came to this conclusion based on a number of systemic and environmental factors including safety, equity, socio-political stability, unemployment, population density, pollution, the weather and others.
Reykjavik, Iceland; Bern, Switzerland; Helsinki, Finland; Wellington, New Zealand; and Melbourne, Australia were ranked the five least stressful cities in the world.
Vancouver and Toronto came in 29th and 30th, respectively.
The five most stressful were, from least to most, Kabul, Afghanistan; Baghdad, Iraq; New Delhi, India; Manila, Philippines; Lagos, Nigeria; and Mumbai, India.
Toronto, meanwhile, came in at number 12, just missing out on a top 10 spot. Vancouver ranked quite low on the list, coming in at 39th overall.
Other Canadian cities didn't even rank in the top 75.
Above Montreal are, from first to eighth place, Melbourne, Dubai, Sydney, Tallinn, London, Tokyo, Singapore and Glasgow.
"The last year has really proved to many companies that remote-working is not only a possibility but actually something that can be beneficial to everyone involved," Omer Kucukdere, Founder and CEO at Nestpick, said in a statement.
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.
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.
Montreal was one of the cities that has dropped the most points, along with Athens, Greece; Rome, Italy; and, at the top of the list of "biggest movers down the ranking," Hamburg, Germany, among others.
A new study conducted by Oberlo looked at 200 metropolises around the world and found "the top 75 global cities based on factors which reflected their innovation, economic strength and entrepreneurial spirit." Montreal ranked in the top three in Canada.