Marginally cheaper/easier to deploy. Very robust queue system built in. Where you'd pay for Sidekiq in Rails, that's included in Laravel. Auth is also more streamlined since Laravel takes a stance on what the default is unlike Rails (though I admit most people just use Devise).

I think PHP is still faster as a language? There are also tools available now to run Laravel apps on serverless infrastructure if that's something you don't want to mess with.

I'll admit I'm biased and haven't spent much time with Rails outside of a hello world and various podcasts.