According to the Cost of Living Index by Country compiled by Numbeo.com, Canada would rank 29th among the countries of the world in terms of a high cost of living. At the top of the list are Bermuda, Switzerland, Hong Kong, Singapore and Luxembourg. Canada comes just behind Austria, Barbados and the United Kingdom, which all have a slightly higher cost of living than Canadians do.
This Numbeo index uses variables such as rent, groceries, transportation and restaurant meals to rank countries on a scale that takes New York City as the benchmark with a score of 100. Canada’s score is 52.12, which means that this country’s overall cost of living is only about half that of the Big Apple.
The complete index can be viewed here.