Vancouver has emerged as the most affordable North American city for luxurious lifestyle, according to a new report.
This is great news for the Sussexes, who have recently announced their desire to move to Canada, which Harry’s grandmother Queen Elizabeth II publicly approved.
The Julius Baer BAER, -0.97% Lifestyle Index is based on a basket of 20 luxury goods and services that high net worth individuals buy. Current prices were sourced from local high-end vendors in 28 major cities across Americas, Europe and Asia.
According to the report, Vancouver offers more than half of the items in the index at below the global average price. This is the cheapest place to buy luxury cars, and the most affordable for fine dining, while offering services of a personal trainer for a third of the price in New York.
Hong Kong has been ranked the world’s most expensive city for luxury lifestyle, while three U.S. cities, the most of any country, also feature highly.
New York is the fourth priciest city in the world, Los Angeles is ranked sixth, Miami—13th. High labor costs make the services in these cities extremely costly. Residents of New York, Los Angeles and Miami pay the most in the world for personal trainer service, and a wedding for 400 guests in a top hotel in one of these cities will be more expensive than anywhere else in the world, with the exception of Hong Kong.
Meanwhile, according to the report, American cities present the best value for purchasing luxury cars. In the U.S. they cost roughly half the international averages. Cars in the U.S. are more affordable “given the sheer size of the market and discounts that come with buying in volume,” authors explain.
Asia is the world’s most expensive region and home to the three costliest cities for luxury lifestyle (Hong Kong, Shanghai and Tokyo) and the cheapest (Mumbai, ranked 28th). Americas, led by New York, are the second most expensive region, with Vancouver (21st) being the most affordable in the region.
Europe offers the best value for luxurious lifestyle with Barcelona (24th in the rank) and Frankfurt (26th), while London (seventh) is the region’s most extravagant city.