India, Hong Kong (SAR) and Australia rounded out the top 6
Canadians have fewer opportunities to generate wealth. Source: shutterstock.com
RBC Wealth Management’s report reveals Canada takes middle place among 15 high and middle-income countries in opportunities for its citizens to create wealth.
Canada gets 49% in opportunities for citizens to generate wealth whereas the US has 57.7%. It’s followed by China (55.9%) and Singapore (54.9%).
Canada’s strong property prices put it to the third spot (44.3%) in the market dynamics category. It’s about market openness, attractiveness, and activities that are contributors to wealth generation. This category landed the US in the first place (80.4%) with India (45.7%) in the second.
Canada’s weakness in the area of innovation resulted in an 8th place ranking (50.7%) while Japan (77%), Singapore (72.1%) and the United States (68.9%) have the strongest innovation environments.
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