Canadians have fewer opportunities to generate wealth

India, Hong Kong (SAR) and Australia rounded out the top 6

Canada

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%).

Wealth creation is an important focus for high net worth individuals globally and the countries at the top of the index have found the magic formula that includes a holistic approach. Countries with a solid mix of the four pillars are showing strong results and opportunities to create and build wealth, while for those with lower rankings, the index provides insights as to where they may be lagging and where they can focus attention to drive positive wealth growth
Samantha Grenville, Americas Consulting Director with The Economist Intelligence Unit

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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