The 2025 World’s Wealthiest Cities Report by Henley & Partners, in collaboration with New World Wealth, highlights the prominence of Canadian cities in global wealth rankings. Toronto, Vancouver, Calgary, and Montreal have secured positions among the top 50 cities worldwide with the highest number of millionaires, underscoring Canada’s growing appeal to high-net-worth individuals.
On this page, you will find:
- An overview of Canadian cities featured in the 2025 World’s Wealthiest Cities Report
- Detailed insights into the millionaire populations of Toronto, Vancouver, Calgary, and Montreal
- Analysis of factors contributing to the wealth growth in these cities
- A comprehensive FAQ section addressing common questions about Canada’s wealth landscape
Toronto: Canada’s Wealth Capital
Toronto stands out as Canada’s leading city in terms of wealth, ranking 14th globally with 105,200 millionaires. The city’s robust financial services sector, diverse economy, and status as a cultural hub contribute to its attractiveness for affluent individuals. Toronto’s real estate market, educational institutions, and quality of life further enhance its appeal.
Vancouver: A Pacific Gateway for the Affluent
Vancouver holds the 29th position globally, boasting 46,400 millionaires. Its strategic location on the Pacific Rim, coupled with a strong economy and scenic beauty, makes it a preferred destination for wealthy individuals, particularly from Asia. The city’s real estate market and emphasis on sustainability also play significant roles in attracting high-net-worth residents.
Calgary: Energy and Innovation Drive Wealth
Calgary ranks 47th globally with 23,200 millionaires. Known for its energy sector, the city has diversified its economy to include technology and innovation, fostering an environment conducive to wealth creation. Calgary’s business-friendly policies and high quality of life contribute to its growing millionaire population.
Montreal: Cultural Richness and Economic Growth
Montreal, ranking 50th globally, is home to 22,200 millionaires. The city’s rich cultural heritage, combined with a strong education sector and burgeoning technology industry, attracts affluent individuals seeking a vibrant and dynamic environment. Montreal’s affordability relative to other major cities also enhances its appeal.
Factors Fueling Canada’s Wealth Growth
Several factors contribute to the increasing number of millionaires in Canadian cities:
- Economic Stability: Canada’s stable economy and sound financial systems provide a secure environment for wealth accumulation.
- Immigration Policies: Favorable immigration policies attract global talent and investors, contributing to economic growth.
- Quality of Life: High standards of healthcare, education, and public services make Canadian cities desirable places to live and invest.
- Diverse Economies: The diversification of industries, including technology, finance, and energy, offers multiple avenues for wealth generation.
Frequently Asked Questions
What is the source of the 2025 wealth rankings for Canadian cities?
The rankings are based on the 2025 World’s Wealthiest Cities Report by Henley & Partners, in collaboration with New World Wealth. The report analyzes the number of high-net-worth individuals in cities worldwide.
Why is Toronto considered Canada’s wealth capital?
Toronto’s status as a financial hub, diverse economy, and high quality of life make it attractive to millionaires. Its robust real estate market and cultural offerings further enhance its appeal.
How does Vancouver attract affluent individuals?
Vancouver’s strategic Pacific location, strong economy, and emphasis on sustainability draw wealthy individuals, particularly from Asia. Its scenic beauty and quality of life are additional factors.
What industries contribute to Calgary’s wealth growth?
While traditionally known for its energy sector, Calgary has diversified into technology and innovation, creating new opportunities for wealth generation and attracting high-net-worth individuals.
What makes Montreal appealing to millionaires?
Montreal’s rich cultural scene, strong education sector, and growing technology industry make it an attractive destination for affluent individuals seeking a vibrant and dynamic environment.
