Canada remains one of the top expatriate destinations in the world thanks to the stable cost of living on offer, the latest cost of living report from Mercer reveals.
The 2012 Cost of Living report from international human resource consultants reveals that Canada continues to offer a stable cost of living that attracts expatriates from all over the world. While other previously popular destinations suffer from economic turmoil as a result of the stagnant U.S. economy or eurozone crisis, Canadian cities continue to offer stable living costs.
According to the survey results, major cities throughout Canada have since little change in the everyday costs associated with travel, housing, education and goods and services. Toronto, which was named as the most expensive city in Canada, was ranked in Position 61 of the most expensive cities in the world, a fall of three places on the previous year. Other Canadian cities represented among the 214 were Vancouver (63), Montreal (87), Calgary (92) and Ottawa (115).
“What we’re really seeing across Canada is relative stability in our exchange rate and inflation, compared to the U.S.” said Eleana Rodriguez, a principal for Mercer, “And that’s really a glass half-full thing. It doesn’t mean our economy’s stagnant, it’s just stable.”
Mercer’s Worldwide Cost of Living Survey is aimed at providing information for companies who relocate employees overseas. It covers 214 cities throughout the world and measures the cost of a basket of 200 items, including housing, transportation, food, entertainment and other goods. Nathalie Constantin-Metral, also a principal at Mercer, adds that in today’s economy, Mercer’s information becomes all that more important for multinationals: “Deploying expatriate employees is becoming an increasingly important aspect of multinational companies’ business strategy, including expansion.
“But with volatile markets and stunted economic growth in many parts of the world, a keen eye on cost efficiency is essential.”
Read the full article: http://www.mercer.ch/press-releases/cost-of-living-rankings