Calgary has the largest growth in millionaires of any Canadian city
A new report has revealed the top cities in the world for millionaires, and while Calgary didn’t rank in the top 50, it is the fastest-growing wealth hub in Canada.
The report comes from Henley & Partners, “the global leader in residence and citizenship by investment.”
The report considers several factors, including the number of millionaires, centi-millionaires, and billionaires. It also shows millionaire growth between 2014 and 2024.
The report is in USD, and according to the rankings, as of December 2024, Toronto was the highest ranked Canadian city at 15th, followed by Vancouver at 29th.
When it came to the fastest-growing wealth hubs in the world, Calgary took that title for Canadian cities, seeing a 55 per cent growth in millionaires from 2014 to 2024. Calgary is home to 12,500 millionaires, 26 centi-millionaires, and four billionaires.
Vancouver came after YYC for Canadian cities on the list of fastest-growing wealth hubs in the world, seeing a 52 per cent growth over the same time period.
New York was the top city for millionaires, with the report saying it has 384,500. New York was followed by the Bay Area, with 342,400, and Tokyo, with 292,300.
“These urban centers share common DNA ā robust legal frameworks, sophisticated financial infrastructure, and perhaps most critically, investment migration programs that welcome global talent and capital,” said Dr. Juerg Steffen, CEO of Henley & Partners.
“Seven of the top 10 wealthiest cities are in countries with residence by investment programs, creating direct pathways for entrepreneurs and investors seeking access to these wealth hubs,” he added.
The report highlights Monaco as “the world’s top safe-haven for the super-rich, where the average wealth exceeds US$20 million.”
You can check out the full report online.
How do you feel knowing Calgary is a growing hub for millionaires and the ultra-rich? Let us know in the comments.
With files from Amir AliĀ