Thousands of Canadians Became Millionaires in 2016

[vc_row][vc_column][vc_column_text]Canada is in the fifth place for countries with millionaire households according to Boston Consulting Group. There were 385,000 millionaire households in Canada in 2015, and that number increased by 100,000 in 2016 to 485,000. This represents 3.5% of all Canadian households and is equivalent to 32.5% of all wealth in Canada in 2016. A private Canadian immigration service, Canadian Visa Expert, has helped thousands of foreign nationals who want to get moved to Canada to start a new life.

It is predicted by the Boston Consulting Group that the number of millionaire households in Canada will increase to 785,000 by 2021. This would be 38% of the country’s wealth, and would represent 5.5% of all households in Canada. According to the report, it is possible that Germany and France may surpass Canada, based on predicted growth in those countries. Overall household wealth in Canada is expected to grow within the next five years to $5.9 trillion. Canadian Visa Expert predicts that Canada will see more foreign nationals moving there to take advantage of the educational opportunities and high quality of life.

[/vc_column_text][vc_video link=”” el_width=”70″ align=”center”][vc_column_text]There were more than seven million households in the United States in 2016 that fell into the millionaire category. Next on the list were Canada, Japan, and the U.K., and all held the same position the previous year as well. Bahrain showed the highest proportionate number of millionaire households, and just over 18% of households in the Persian Gulf countries could be considered millionaires. According to the report, more than 5% growth was seen in overall, global private financial wealth, which excludes real estate but includes investments, life insurance, and pensions.

Canadians are using credit cards regularly, which indicates that wealth is increasing. Debt reporting agency, TransUnion Canada, reported that in the early part of 2017, the average debt, excluding mortgage debt, was over $20,000 per household, which is up 1.9% from last year’s figures. If you want to relocate to find new employment opportunities, start a family, or attend a university, contact Canadian Visa Expert for more information.[/vc_column_text][vc_btn title=”Read more about Occupation and Careers in Canada” color=”sky” size=”lg” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-hand-o-down” add_icon=”true”][vc_basic_grid post_type=”post” max_items=”3″ grid_id=”vc_gid:1504078748450-b002b487-cdc1-5″ taxonomies=”26″][/vc_column][/vc_row]

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When you are ready to get your visa to move to Canada, there are some basic steps that you need to follow. It is difficult to move, but when you need a visa, it can be even more difficult. Canadian Visa Expert is an immigration service that works with people who want to get their visa to Canada in order to live and work. We understand the process, and we know how to help you.

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