June 13, 2013

Study Shows Large Number of Wealthy Canadians are Immigrants

In a recent study conducted by BMO, research determined that nearly half of the wealthiest Canadians are immigrants or first generation Canadians with at least one parent born outside the country.
The survey sampled 305 Canadians with a wealth of $1-million or more investable assets and found that not only did immigrants make up almost half of the sample, but two-thirds of the sample included self-made millionaires.
In contrast, a similar study conducted in America showed that new immigrants accounted for only one-third of the country’s millionaires.
But not only were immigrants a significant percentage of the survey, women too also made up a large number of wealthy Canadians, roughly one-third, up from 21% just three years ago.

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