According to the Economist’s Intelligence Unit’s Cost of Living Index (try to say the fast three times), Toronto was just ranked the 86th most expensive city in the world. While it could be worse, we’re still complaining because doesn’t the sky-rocketing housing market count for something?
Within the parameters of this study it doesn’t, which we find odd because hello, there’s a whole pile of us who are like, “ya, I’m buying a house never with all the money that I don’t have.” While the criteria does not include housing/renting costs, The Economist compared the prices of 160 goods and services in 133 cities around the world.
In this light, Toronto is significantly more affordable than cities who topped the list like Singapore, Hong Kong, Zurich, Tokyo, Osaka, Seoul, Geneva, and Paris. So know that while a lot of us are broke and buying a house is a long lost dream, at least we have 160 other goods and services we are more likely able to afford.
Anywho, for the time being, we’ll still keep complaining about the cost of living and the struggle of life. And if it’s any consolation, Toronto’s ranking moved up two spots from 88th in the 2016 index – this totally warrants are complaining, no?
See the top 15 most expensive cities in the world plus Toronto and Vancouver below:
1. Singapore
2. Hong Kong
3. Zurich
4. Tokyo
5. Osaka
6. Seoul
7. Geneva
8. Paris
9. New York
9. Copehagen (tie)
11. Los Angeles
11. Oslo (tie)
11. Tel Aviv (tie)
14. Sydney
15. Melbourne
39. Vancouver
86. Toronto
Source: The Economist
Do you find Toronto an expensive city to live in?
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