Vancouver beats NYC as most expensive city in North America

New York City

According to ECA International, Vancouver is North America’s most expensive location for the second year in a row. The city ranks 35th globally and is followed by Manhattan – Yes, followed by New York City! The strengthening of the US dollar against major currencies has led to all of the US locations surveyed moving up the ranking in the past 12 months – despite the cost of items in the cost of living basket increasing at a slower rate than many other parts of the world.

The skyrocketing cost of living in Vancouver is largely the result of investment in the local economy (primarily in real estate) from Chinese investors.

Via Hong Kong overtakes Manhattan in list of world’s most expensive cities – ECA International.

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Comments

Not very accurate

This survey isn't accurately reflective of real living expenses -- at least not for the average person. The data came from a survey that was made for "the management and assignment of employees around the world"... in other words, what it would cost for an employee to live and work temporarily in another city. Because of that, they didn't factor in realistic living expenses based on average earning wages of the people living in those cities. Instead, they calculated a limited range of living expenses in different cities, and then compared them using currency exchange/values.

Regarding the criteria that was used to gather data, the originating article states: 
"The data is used by ECA clients to calculate cost of living allowances for assignees. The survey covers:
Food: Groceries; dairy produce; meat and fish; fresh fruit and vegetables.
Basic: Drink and tobacco; miscellaneous goods; services.
General: Clothing; electrical goods; motoring; meals out.
**Certain living costs such as accommodation rental, utilities charges (electricity, gas, water), car purchases and school fees are NOT included in the survey. Such items can make a significant difference to expenses but are usually compensated for separately in expatriate packages."

Although this doesn't accurately reflect how expensive Vancouver is for a Vancouverite, I do agree on one thing: regardless of the data, Vancouver is a damn expensive city to live in!! Just maybe not necessarily the most expensive in North America.

"The skyrocketing cost of

"The skyrocketing cost of living in Vancouver is largely the result of investment in the local economy (primarily in real estate) from Chinese investors."

 

You have got to be kidding me.  That article you cited is laughable. 

The vague numbers are disingenuous at best, the overwhelming majority of purchases are by locals to locals.

Old news

Reuters wrote a story, with data from the Economist Intelligence Unit, in Feb.  2012 declaring Vancouver the most expensive city in North America. It ran in the Vancouver Sun.

Vancouver vs. New York

As someone living in Vancouver who has recently lived in NYC for several years, I can agree that aside from purchasing an apartment, the general cost of living tends to be more expensive in Vancouver than New York City. Whatever the reasons may be (citing overseas Chinese real estate purchases as being the reason to too facile), it is hard to understand why we need to pay a "beautiful city" tax here, along with the Canadian/provincial governments instituted & controlled subsidies that effectively help push our milk, cheese, egg, and other basic food, along with other household items, prices higher than many other countries. If everyone "Just Said No" perhaps things might begin to change. Give me culture over mountains any day.

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