Toronto (Ontario), Vancouver (British Columbia), Calgary (Alberta), and Montreal (Quebec) have all made it into the top 50 global cities with the highest number of millionaires, according to the 2025 World’s Wealthiest Cities Report by Henley & Partners and New World Wealth.
Toronto ranks 14th with 105,200 millionaires, driven by its financial sector, strong economy, and high quality of life.
Vancouver, in 29th place with 46,400 millionaires, benefits from its Pacific location, sustainability focus, and appeal to wealthy Asian investors.
Calgary sits at 47th with 23,200 millionaires, supported by its energy sector and growing tech industry.
Montreal, at 50th with 22,200 millionaires, attracts affluent individuals with its cultural richness, affordability, and expanding tech scene.
Canada’s relatively resilient economy, high quality of life, and immigrant-friendly policies continue to attract global investors and high-net-worth individuals.
Henley & Partners is a global leader in residence and citizenship planning, advising high-net-worth individuals on investment migration. In collaboration with wealth intelligence firm New World Wealth, they publish annual reports tracking where the world’s wealthy live and invest. These rankings are widely referenced by policymakers, financial institutions, and global investors, making them a valuable indicator of international economic and migration trends.
