Millionaires Living in Canada to Rise 54% by 2023

Over the next five years, the number of millionaires will increase by over 50 percent, according to the new wealth report by Credit Suisse, a banking giant. In 2018 there were a total of 1.3 million millionaires, which is expected to increase by 54 percent, close to two million by 2023. Canada, the third-ranked country out of 24 economies with the largest gain in the millionaire population, comes in behind China and Russia. One of the benefits of living in Canada is the high quality of life. Contact Canadian Visa Professionals today. Their main commitment is to help you make your dream of living in Canada become a reality.

The wealth report gave a picture of how wealth has increased for Canadians over the past 18 years. Wealth per adult in the country multiplied at an average rate of 5.4 percent, even with a small dive during the global financial crisis in 2008-2009. The average wealth per adult in 2018 was $288,260, nearly 30 percent lower than in the United States. Meanwhile, wealth in Canada was more uniformly distributed in comparison to the U.S. The median wealth per adult in the U.S. was $61,670, compared to $106,340 in Canada. Also, Canada had a larger percentage of those with more than $100,000 and less than $10,000 compared to America. Canada’s 1.3 million millionaires make up three percent of the globe’s top one percent wealth holders.

CanadianVP prides themselves on helping individuals and families from all around the globe immigrate to Canada. Contact them for more information.

, , , ,

About Canadian Visa Professionals - Website Team

View all posts by Canadian Visa Professionals - Website Team →

Leave a Reply

Your email address will not be published. Required fields are marked *