For foreign businessmen, Vancouver is now a more affordable place to live than it was a year ago. Unfortunately for locals, it’s still the priciest place in Canada.

Market analytics company Mercer released its annual cost of living survey Wednesday, and for the second year in a row, Vancouver is the highest-ranked Canadian city on the list. It finished ahead of Toronto, Montreal, Calgary, and Ottawa, the other Canadian cities ranked.

Vancouver ranks 96th overall on the 211-city list, down 32 places from its rank last year, when it was also the most expensive city in Canada. Mercer attributes to the drop in the rankings of Canadian cities to the weaker Canadian dollar.

Here’s how Canadian cities fared on the list:

  • 96 Vancouver
  • 101 Toronto
  • 123 Montreal
  • 125 Calgary
  • 152 Ottawa

Mercer's survey is intended to help multinational companies and governments determine compensation for expatriate employees. New York, which ranks 16th on the list, is used as the base city, and all cities are compared against it. Currency fluctuations are measured against the U.S. dollar.

The survey measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.

The list is topped by two African cities: Luanda, Angola, and N’Djamena, Chad, but the rest of the top ten is filled out by cities more traditionally thought of as expensive:

  1. Luanda, Angola
  2. N’Djamena, Chad
  3. Hong Kong
  4. Singapore
  5. Zurich, Switzerland
  6. Geneva, Switzerland
  7. Tokyo, Japan
  8. Bern, Switzerland
  9. Moscow, Russia
  10. Shanghai, China