Life in Canada
Four Canadian Cities Rise in Worlds Richest Cities 2025 Rankings
Canada isn’t just known for its scenic landscapes and universal healthcare anymore. In 2025, four Canadian cities—Toronto, Vancouver, Calgary, and Montreal—have claimed spots on the global wealth map. According to the 2025 World’s Wealthiest Cities Report by Henley & Partners and New World Wealth, these cities are now among the top 50 globally based on millionaire populations.
This rising trend is a clear signal: Canada is becoming a top destination for high-net-worth individuals (HNWIs). What’s behind this shift? Strong economies, smart immigration policies, and an enviable quality of life. Let’s explore how each city is shaping up as a wealth magnet.
Toronto Leads the Way in Canada’s Wealth Boom
Toronto ranks 14th globally with over 105,000 millionaires. Often referred to as Canada’s economic engine, the city is home to a thriving financial services sector, world-class education, and a high standard of living. From Bay Street’s banking giants to tech start-ups in the Distillery District, Toronto continues to attract talent and investment from across the world.
Why Millionaires Choose Toronto
- Access to global financial markets
- Premier universities like the University of Toronto
- A multicultural, business-friendly environment
- High real estate value and capital growth
Toronto is no longer just Canada’s biggest city. It’s now a magnet for global wealth.”
Vancouver: A Scenic Haven for the Affluent
With 46,400 millionaires, Vancouver holds the 29th spot globally. Its picturesque setting between the Pacific Ocean and the Coast Mountains makes it a dream location. But beauty isn’t the only reason the rich are flocking here. Vancouver’s proximity to Asia and its diversified economy make it a prime spot for foreign investors and global business leaders.
What Draws Millionaires to Vancouver?
- Pacific Rim trade access
- Sustainability-driven policies
- Booming real estate market
- Clean, safe, and walkable urban spaces
Quick Stats: Millionaires in Canada’s Top Cities (2025)
| City | Millionaire Count | Global Rank |
| Toronto | 105,200 | 14 |
| Vancouver | 46,400 | 29 |
| Calgary | 23,200 | 47 |
| Montreal | 22,200 | 50 |
Calgary: Where Innovation Meets Energy Wealth
Coming in at number 47, Calgary boasts 23,200 millionaires. While it has long been known for its oil and gas sector, the city has taken great strides in diversifying its economy. From clean energy to tech start-ups, Calgary is becoming a hub for innovation while maintaining its legacy industries.
Calgary’s Wealth Drivers
- Pro-business tax and regulatory environment
- Fast-growing tech scene
- World-class infrastructure
- High quality of life and affordable living
“Calgary is no longer just oil country—it’s opportunity country.”
Montreal: A Cultural and Economic Powerhouse
Montreal rounds out the Canadian entries at 50th place, with 22,200 millionaires calling it home. Known for its French-Canadian charm, Montreal has successfully blended cultural richness with economic growth. Its appeal lies in the strength of its universities, its growing tech sector, and a relatively lower cost of living compared to other global wealth hubs.
Why Millionaires Settle in Montreal
- Strong arts and culture scene
- Affordable real estate
- Top institutions like McGill University
- Fast-growing AI and tech industries
Why Canada’s Cities Are Climbing the Wealth Rankings
So, what’s pushing Canadian cities into the world’s wealth spotlight? Here’s a quick look at the major factors:
| Factor | Impact |
| Economic Stability | A strong banking system and low political risk create confidence for investors |
| Open Immigration Policies | Welcomes business immigrants and skilled professionals |
| Quality of Life | Universal healthcare, clean cities, low crime, and top-tier education |
| Diverse Economies | From oil to AI, cities like Calgary and Montreal are future-ready |
Canada’s Global Wealth Appeal Is Growing
The latest World’s Wealthiest Cities report confirms a growing truth—Canada is no longer just an immigrant’s dream, it’s a millionaire’s destination. With robust economies, immigration-driven growth, and high living standards, cities like Toronto, Vancouver, Calgary, and Montreal are attracting global attention.
Whether you’re a skilled worker, entrepreneur, or investor, these cities offer more than just opportunity—they offer long-term wealth potential.
