Vancouver has been selected as the world's most livable city, while Toronto remained the fourth most attractive place to live, according to the Economist magazine.

The Economist Intelligence Unit says Vancouver earned 98 out of a possible 100 points when judged on the city's stability, health care, culture and environment, education and infrastructure.

"(Vancouver's position) can only have been cemented by the successful hosting of the 2010 Winter Olympics and Paralympics, which provided a boost to the infrastructure and culture and environment categories," the EIU said.

"Only petty crime presents any difficulties for Vancouver, although this would be a typical shortfall of any such location."

Toronto placed fourth in the world with 97.2 points, behind Melbourne (97.5) and Vienna (97.4). Calgary rounded out the top five with a score of 96.6.

The report, which some companies use to determine hardship allowances for relocated employees, says cities that score best tend to be mid-sized and in wealthier countries. Seven of the top ten cities come from Australia and Canada.

Vancouver retained the title for the fifth straight year, while Toronto remained fourth for the third straight time. It was ranked fifth highest the two previous years.

Harare, the capital of Zimbabwe, was ranked the least most livable city, thanks to particularly poor scores in stability, health care and infrastructure.

London and New York were listed 53rd and 56th, based on poor scores for the perceived threat of terror and higher levels of petty and violent crimes.