Canada is one of the richest countries in the world. The per capita income is remarkably high and it is a distinguished member of the Group of Eight (G8) as well as the Organization for Economic Co-operation and Development (OECD). The economy is basically a free market and the government tends to apply statutes and policies less strict compared to the United Kingdom.
The per capita gross domestic product (GDP) is higher compared to other European countries. Comparatively, here are the prices in a nutshell,
- The cost of living in Toronto is 30 percent lower than in London, UK.
- The cost of living in Vancouver is 12 percent lower than in Amsterdam, Netherlands.
- The cost of living in Canada’s capital, Ottawa, is 5 percent lower than in Glasgow, UK.
At present, economists are worried about the declining unemployment rate although production and living standards are still considerably high. [click to continue…]
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