May 22, 2019 – Established Canadian immigrants were wealthier than their Canada-born counterparts in 2016, new data from Statistics Canada shows.
Immigrant families with major earners aged 45 to 64 who had been in Canada for 20 years or more were worth an average $1.06 million in 2016. Their Canadian-born counterparts were worth nearly $980,000.
The data shows that the longer an immigrant family has been in Canada, the wealthier they are and the more likely they are to be wealthier than their Canadian counterparts.
Immigrant families with major earners aged 35 to 54, who had been in Canada between 10 and 19 years in 2016, were worth approaching $575,695, compared to $658,607 for the Canadian-born.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer