The world's most liveable cities
Does money affect where you live?
The Economist Intelligence Unit's (EIU) 2019 Global Liveability Index has found the Austrian city of Vienna to be the world’s most liveable city for the second year in a row.
Vienna famously dethroned Melbourne as the world’s most liveable city in 2018 after Melbourne had held the top spot for seven consecutive years.
Five Australian cities made the top 20 including Melbourne (2), Sydney (3), Adelaide (10), Perth (14) and Brisbane (18).
The annual index evaluated 140 cities from across the globe and ranked them by 30 factors across five weighted categories including stability (25%), healthcare (20%), culture and environment (25%), education (10%) and infrastructure (20%).
Brisbane received a perfect score for healthcare and education and tied in stability with Melbourne, Sydney, Adelaide and Perth, but was found to be lacking in infrastructure.
In the EIU's 2019 World Cost of Living report, Australian cities were found to be middle of the pack with Brisbane ranked the 41st most expensive city, far cheaper than Sydney (16th) and Melbourne (22nd).
RACQ Financial Advocacy Analyst Nathanael Watts said people considering a move should compare city’s Purchasing Power Parity (PPP).
"If you live in a city with a high PPP you’ll get more from your dollar," Mr Watts said.
"Brisbane is middle of the pack in cost of living and high in liveability which means residents are getting more bang for their buck."
Mr Watts said people should also consider their standard of living compared to their income when deciding on a change of address.
"There is no point moving to a new city just because it's rated higher on the liveability index if your income isn’t worth as much there," Mr Watts said.
"You may be living in a more 'desirable' city but may not be able to enjoy as much of the city with your weaker income."
The top 10 most liveable cities in the world:
- Vienna, Austria (99.1%)
- Melbourne, Australia (98.4%)
- Sydney, Australia (98.1%)
- Osaka, Japan (97.7%)
- Calgary, Canada (97.5%)
- Vancouver, Canada (97.3%)
- Tokyo, Japan (97.2% tie)
- Toronto, Canada (97.2% tie)
- Copenhagen, Denmark (96.8%)
- Adelaide, Australia (96.6%)
The information in this article has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in the document is general advice and does not take into account any person’s particular investment objectives, financial situation or needs. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives, financial situations and needs.