Canada may not always rank among the top tier countries at the Olympics, but when it comes to cities, we know our stuff.

The Economist's latest edition of its Most Livable Cities Index lists Vancouver, Toronto and Calgary among the 10 most livable metropolitan areas in the world. Montreal was the only other Canadian city to rank in the 140-city survey, placing at 16th.

The results for Canada's top-10 cities are identical to last year, when Vancouver dropped out of first place for the first time in nearly a decade, evidently on concerns about a highway closure on Vancouver Island. Calgary and Toronto have been climbing steadily up the list over the years.

Despite Canada's strong showing, the great white north is still trumped by the land down under. Australia took no fewer than four of the top 10 spots, including top-ranked Melbourne.

Vancouver lost marks for petty crime and a lack of quality housing, while Toronto lost marks for traffic and transit congestion, the report stated.

Rankings such as this tend to be subjective, and vary depending on how different criteria are emphasized.

The Economist tested out an alternative system for ranking cities earlier this summer, and in that ranking, Toronto was the only Canadian city to place in the top 10 (at eighth place), while Hong Kong took the crown. Many observers questioned the value of that ranking, noting Hong Kong's lack of space and air pollution.

Check out the 10 most livable cities in the world, according to The Economist (text version below slideshow):

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  • 10. Auckland, New Zealand

    Morning fog shrouds Auckland city on July 6, 2012 in Auckland, New Zealand. Fog in Auckland has caused disruption to flights around the country for the second day in a row. (Phil Walter/Getty Images)

  • 9. Perth, Australia

    A helicopter tows a large Australian flag past the Perth city skyline prior to the fireworks on the banks of the Swan River as Australia celebrates Australia Day on January 26, 2010 in Perth, Australia. (Paul Kane/Getty Images)

  • 8. Helsinki, Finland

    Herring boats are docked in front of the Finnish capital's famous market place for the 261st annual Baltic Herring Market. In the background are Helsinki's blue and white city hall and its snow-white landmark cathedral. (PAAL AARSEATHER/AFP/Getty Images)

  • 7. Sydney, Australia

    In this handout image provided by Carnival Australia, P&O Cruises 'Pacific Jewel' cruise's out of Sydney with a message of support for the New South Wales State of Origin team emblazoned across her front on June 9, 2012 in Sydney, Australia. (James Morgan/Carnival Australia via Getty Images)

  • 6. Adelaide, Australia

    The Belgium Umicore Solar Team celebrates in Victoria Square fountain after Umicar Infinity crossed the ceremonial finish line to place second in the World Solar Challenge in Adelaide, 26 October 2007. (TORSTEN BLACKWOOD/AFP/Getty Images)

  • 5. Calgary, Canada

    Fireworks explode above the skyline of Calgary during the opening ceremony for the 1988 Winter Olympics held in Calgary in Canada. (Bob Martin, Getty Images)

  • 4. Toronto, Canada

    The sun sets over the Toronto skyline in his undated file photo. (Photo by Carlo Allegri/Getty Images)

  • 3. Vancouver, Canada

    A view of the Vancouver skyline as seen from the Burrard Civic Marina on March 11, 2009 in Vancouver, Canada. (Photo by Doug Pensinger/Getty Images)

  • 2. Vienna, Austria

    The Hofburg (Imperial Palace) is lit up at night on November 30, 2007 in Vienna, Austria. (Photo by Scott Barbour/Getty Images)

  • 1. Melbourne, Australia

    A general view of the city skyline and electricity powerlines on the Mairbyrnong River in West Footscray June 4, 2007 in Melbourne, Australia. (Mark Dadswell/Getty Images)

10. Auckland, New Zealand
9. Perth, Australia
8. Helsinki, Finland
7. Sydney, Australia
6. Adelaide, Australia
5. Calgary, Canada
4. Toronto, Canada
3. Vancouver, Canada
2. Vienna, Austria
1. Melbourne, Australia