12/16/2013 06:23 EST | Updated 01/25/2014 04:01 EST

Vancouver, Most Expensive City For Expats In Canada: Report

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Vancouver, a place that is known for having the ritziest condo and being the priciest city to live in North America, can add a new feather to its hat: Canada's most expensive location for expatriates.

Lotusland ranks first among Canadian cities on ECA International's biannual Cost of Living survey, which is calculated by comparing the costs of a basket of day-to-day goods and services in 440 locations around the world. It does not include the cost of accommodations, utilities, car purchases or school fees.

The company, which advises businesses on assigning and managing employees internationally, uses the survey to assist clients when they calculate cost of living allowances in their workers' pay packages.

While ranking first in Canada, Vancouver still fell short of the top spot in North America behind Manhattan (which is calculated separately from New York City), Honolulu, Hawaii generally, and NYC.

Vancouver was ranked 53rd worldwide.

Caracas, Venezuela ranked as the world's most expensive city for expatriates, followed by Luanda, Angola and Oslo, Norway.

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