Median Wealth Per Canadian Adult Higher Than in the USA

immigrant woman

Over the next five years, the number of millionaires living in Canada will more than double, according to a report from Credit Suisse. The growth rate is speedier than other developed countries, even the United States. In 2018, there were 1.3 million Canadian millionaires, and that is predicted to jump by 54 percent to close to two million people by 2023, according to the Global Wealth Report 2018. Immigration is the way to get the best option for your life. Canada is one of the most desired locations around the world for migration. Contact Canadian Visa Professionals for help with the visa process.

Canada is only behind China and Russia out of 24 developed countries in the most significant percentage gain in the number of millionaires over the next five years. Millionaires in the United States will increase only 18 percent to just over 20 million in the same time frame. The report used financial and non-financial assets like homeownership, GDP, and inflation from the International Monetary Fund economic database to create their report. Canadian Visa Professionals will walk you through the steps to receive the required visa to live and work in Canada.

The high property values are an essential driver of household wealth in the country, even with the recent slowdown in the real estate market. Professor Jim Davies, the author of the study, said, “One of the assumptions behind the increase in the number of millionaires is that Canadians’ housing wealth will continue to rise-no collapse in that market.” The team of professionals at Canadian Visa Professionals will answer any questions you may have about the immigration process. Contact them today!