The City of Toronto is once again being hailed as one of the world's best places to live in a widely-regarded, annual ranking of 140 different cities around the globe — but not as close to the top as possible, compared to previous rankings.

The Economist's Intelligence Unit's 2018 Global Liveability Report places Toronto as the seventh most-liveable city on Earth, down three spots from 2017, when the city came in fourth.

Vienna, Austria took first place this year, punting Melbourne, Australia down to second place after seven consecutive years at the top of the list.

Calgary somehow surpassed both Vancouver and Toronto in this year's ranking, taking spot number four while the larger Canadian cities were ranked sixth and seventh, respectively.

Calgary (4th) overtakes Vancouver (6th) to be @TheEIU most liveable city in North America. Toronto 7th for #Liveability pic.twitter.com/khhT9g9cxe

— Simon Baptist EIU (@baptist_simon) August 14, 2018

Aside from Copenhagen and those already-mentioned, the rest of the cities on this year's top 10 list are all Japanese, Australian or Canadian.

"The concept of liveability is simple: it assesses which locations around the world provide the best or the worst living conditions," explains this year's report.

"Every city is assigned a rating of relative comfort for over 30 qualitative and quantitative factors across five broad categories: stability, healthcare, culture and environment, education, and infrastructure."

Toronto actually tied with Tokyo for seventh place in the EIU's 2018 ranking with an overall score of 97.2 out of 100. Both countries boast a perfect 100 in the categories of stability, healthcare and education.

The EIU's liveability index quantifies the challenges that might be presented to an individual's lifestyle in 140 cities worldwide, and assesses which locations provide the best living conditions. To see this year's ranking, download the free summary now: https://t.co/m3bWH1B0Ji pic.twitter.com/b5pfZBSQLG

— The Economist Intelligence Unit (@TheEIU) August 14, 2018

In terms of infrastructure, Toronto had the lowest score (89.3) out of all the cities in the top 10. We beat out Tokyo, however, with a score of 97.2 for "culture & environment." Only Vancouver and Melbourne were ranked higher for this factor.

Here are the top 10 most liveable cities for 2018, according to the EIU:

• 1. Vienna, Austria
• 2. Melbourne, Australia
• 3. Osaka, Japan
• 4. Calgary, Alberta
• 5. Sydney, Australia
• 6. Vancouver, B.C.
• 7. Toronto, Ontario
• 8. Tokyo, Japan
• 9. Copenhagen, Denmark
• 10. Adelaide, Australia

And, if you're interested, here are the least-liveable cities on earth, based on the five factors stated above:

• Dakar, Senegal
• Algiers, Algeria
• Douala, Cameroon
• Tripoli, Libya
• Harare, Zimbabwe
• Port Moresby, Papua New Guinea
• Karachi, Pakistan
• Lagos, Nigeria
• Dhaka, Bangladesh
• Damascus, Syria