Something, something… the wealth of nations? The Henley Global Citizens Report came out today, and it offers insight into how Canada’s wealth stacks up against the rest of the world. In short? We’re kind of in the middle of the pack. Let’s see how we got there.
Basically, the report offers insight into things like average net worth, GDP per capita, and some more fun metrics. You know, like how many multi-millionaires and billionaires are chilling around the country. However, the list is based on a country’s ‘total wealth’, so let’s check that out first.
Basically, ‘total wealth’ refers to all the wealth held privately in a country, including assets (cars, houses, art, and so on…) For reference, these numbers are in USD.
- USA – $68.8tn
- China – $23.3tn
- Japan – $20.1tn
- India – $8.9tn
- Germany – $8.9tn
- UK – $8.8tn
- Australia – $6.7tn
- Canada – $6.2tn
- France – $5.8tn
- Italy – $3.8tn
How about the ballers? Well, Canada has some 364,000 people with a net worth over a million USD, just over 12,000 with over ten million, and 524 people with over a hundred million. We’ve also got a decent number of billionaires, at 43 across the country.
Last up- average wealth in the country. According to the report, Canada’s wealth per capita this year is some $164,360 USD (or just over $206,000 CAD). Notably, this is less than the average (median) net worth provided by Stats Canada in 2019. On that metric, Canada sits at $329,900.
So, if you were curious about how Canada’s wealth stacks up against the rest of the world, now you know! As for us? Well, it might be time to start a side hustle to get up to par. Nah, just kidding- we can’t even afford to do that!