A study conducted by digital financial services provider Remitly, based on research from Purdue University, calculates the cost of happiness in different countries.Adjusted for local purchasing power and inflation, the report ranks nations by their 'price of joy.' Canada comes in at $155,850 CAD (equivalent to $113,755 USD), placing it 14th globally.Iceland is the most expensive at $163,579 USD, while Ethiopia is the cheapest at $10,176 USD.The study uses data from Gallup's Life Evaluation Index and converts figures to local currencies using IMF purchasing power ratios.Cities like Toronto, Vancouver, and Victoria in Canada have higher costs than national averages.Slovenia uniquely has an average income that covers the cost of happiness, whereas Luxembourg and Canada lag behind.The research highlights economic disparities in how happiness is valued across regions.