Vancouver ranked 3rd most livable city in the world

It may not be ranked as the most affordable place to live, but Vancouver has just been ranked the third most 'livable city in the world.'

The ranking comes from a report called the Global Liveability Report and it's released annually by the Economist Intelligence Unit (EIU), a research and analysis division of the UK-based media company, The Economist Group.

According to the report, the top three most livable cities in the world are:

1. Melbourne

So this is what they mean by Blue Monday, right? It was a cracker of a day today in Melbourne with the temp topping out at a sunny 20 degrees and the unmistakable feel of spring in the air. Thanks to @rob_palebluedotphotography for sharing this great photo of our twinkling city as seen from the southbank in front of Boathouse Drive opposite Birrarung Marr. Nice photobomb by the Angel sculpture too. #visitmelbourne #visitvictoria

A post shared by Melbourne (@visitmelbourne) on Aug 14, 2017 at 2:31am PDT

2. Vienna

Spaziergang durch die Straßen Wiens. 💜 @sergiu.arbanas #vienna_austria #vienna #austria

A post shared by Vienna 🇦🇹 (@vienna_austria) on Aug 16, 2017 at 12:11am PDT

3. Vancouver

Happy birthday to @vancouverlookout You'll find the best views of the city from up there Photo: @demin.ca Tag a friend that this picture reminds you of! _________________________ Our projects: • @InsideCanada • @Alberta_Ca • @Toronto_Ca • @CanadaGraphers • @TimelapseCollection

A post shared by Vancouver BC Canada (@vancouver_canada) on Aug 13, 2017 at 9:28pm PDT

Ranked in fourth and fifth place are Toronto and Calgary.

The report relies on an analysis of each city's country, risk and industry data. Each city is given a score for more than 30 factors across five main categories:

Stability, healthcare, culture and environment, as well as education and infrastructure.

This is the seventh year in a row that Melbourne, Australia has been ranked as the number one most liveable urban centre of the 140 cities surveyed.

The liveability survey also takes into account terrorism activity and according to the study, several cities in around the world have dropped in their rankings due to the world's increasing instability.

At the same time, cities like Amsterdam and Reykjavik have improved their rankings based on presenting as safe and culturally exciting cities to visit.

The 10 most liveable cities in the world for 2017 are:

1. Melbourne, Australia

2. Vienna, Austria

3. Vancouver, BC

4. Toronto, ON

5. Calgary, AB

6. Adelaide, Australia

7. Perth, Australia,

8. Auckland, New Zealand

9. Helsinki, Finland

10. Hamburg, Germany

The 10 least livable cities in the world for 2017 are:

1. Kiev, Ukraine

2. Douala, Cameroon

3. Harare, Zimbabwe

4. Karachi, Pakistan

5. Algiers, Algeria

6. Port Moresby, PNG

7. Dhaka, Bangladesh

8. Tripoli, Libya

9. Lagos, Nigeria

10. Damascus, Syria

The Economist Newspaper was created in 1946 and focuses on business and finance.