Global List of Cities: On the list of cities with the most centi-millionaires and billionaires, Vancouver ranked 41st.
Based on a report by the advisory firm Henley & Partners, Vancouver has been positioned as the 41st most affluent city globally.
The report tally the number of centi-millionaires and billionaires residing in each city, defined as individuals with investable assets exceeding $100 million USD. As of June 2023, Vancouver is home to 72 centi-millionaires and six billionaires, according to the report.
Additionally, the report forecasts that the quantity of centi-millionaires in Vancouver will increase by 67% during the following decade. However, according to specialists, this does not imply that city dwellers are earning more money.
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Global List of Cities: Bryan Yu, chief economist at Central 1 Credit Union, asserts that many wealthy individuals from other parts of the globe relocate to Vancouver for various reasons.
“It’s clear that it’s a highly desirable environment to be in. People … have a lifestyle that they enjoy near the mountains and near the ocean,” he stated.
The report, according to Andy Yan, director of the City Program at Simon Fraser University, emphasizes the income disparity in the city.
“Vancouver actually has very much the housing prices of San Francisco, but the local median household incomes of Columbus, Ohio,” according to him.
Toronto stands as the sole Canadian city to feature 18 billionaires and 192 centi-millionaires. With 62 billionaires and 775 centi-millionaires, New York topped the list.
