It matters to an extent. Wages relative to CoL impact your ability to spend & save. That’s something I’ve been racking my brain about when it comes to USA -> N. Europe. That move for me would be at least a 50% paycut & higher taxes, not to mention higher cost of goods. It would be a downgrade in both savings and luxuries I could afford.

I’m guessing your argument has more to do with currency valuation, that saving some CHF or Euro would outpace saving more Rand.

Canada chews up immigrants and spits them out. The relatively low wages to the CoL, means a lot of them spend a few years burning through what money they have, only to burn out and go back home. Rinse & Repeat, Canada will continue the immigrant churn - crushing the hopes of migrants and suppressing wages for the locals. The only ones who benefit is big business & rental owners.