Toronto ranks 98th out of 209 in terms of the most expensive world city according to Mercer’s 26th annual Cost of Living Survey.

The Mercer survey reviews cost of living and housing for employees that are sent on international assignments, and includes factors such as the stability of the housing market, inflation rates, and prices of goods and services.

It is important to note that the Mercer ranking is a listing of the most expensive major world cities to live for expatriates, and, unlike many other rankings, a lower ranking is considered more favourable. The most expensive city for expatriates is Hong Kong (ranked as 1st), while the least expensive city is Tunis (ranked 209th).