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Half of Canadian Millionaires Not Canada-born, Claims Study

A research done on the superior net value nationals of Canada—having a net worth of 1 million dollars & above–has revealed that while 24% of the nation’s millionaires happen to be first-generation settlers, an additional 24% are second generation with not less than 1 parent born in a foreign country.

Though more people might nurse ‘American Dreams’, apparently developing a personal wealth could be more possible in the Maple Leaf Country, in case one’s birth is outside the country’s shores. Not more than 33% of the affluent Americans happen to be either of the two–first or second generation settlers. And, the Maple Leaf Country’s progressively more merit-based immigration arrangement could increase the chasm further.

The research revealed a close association between education & assets, where four-fifth of the well-off Canadians covered by the survey were equipped with not less than an undergraduate degree, and 46% were armed with a specialized or graduate degree. The millionaires of Canada were also older, age wise, vis-à-vis their American matching parts, with only 4% of those covered by the study being below 40 years.

Talking about this, an involved executive reportedly observed that for years, people have regarded the Maple Leaf Country a nation which offers opportunities galore for those who are ready to shift to it, prior to contributing to the nation’s development. He added that the study’s conclusions adequately verify this old idea.

The overall levels of social mobility depicted, and the opportunities to be had, are wonderful news for those keen to move to the nation, to begin a fresh life therein. The same is also a positive development for the nation’s existing nationals, who gain from employment generation & tax income provided by the qualified migrants.

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