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       Toronto and Vancouver rank among the wealthiest cities in the world
        
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       Feel like you need to be a millionaire to afford living in a Canadian
       city like Toronto or Vancouver?
        
       As it gets harder to find affordable housing and groceries, it might
       seem like these cities are only liveable for the 1%.
        
       And it turns out there may be some truth to that.
        
       A new report revealed that several Canadian destinations are, in fact,
       hotspots for millionaires to thrive, making them some of the
       wealthiest cities in the world.
        
       Henley and Partners (H&P), an investment migration consultancy
       company, released its World's Wealthiest Cities Report for 2024, and
       two Canadian spots made the list of 50 destinations.
        
       The highest-ranking Canadian city is Toronto, listed as the 13th
       wealthiest city in the world. This is based on the 106,300
       millionaires living in Ontario's capital and the 25% increase in
       millionaires between 2013 and 2023.
        
       Toronto lands a little lower in 16th place for the number of
       billionaires living in the city, which is at 18.
        
       Taking the 31st spot as wealthiest city in the world is Vancouver. The
       metropolitan is home to just 41,400 millionaires, but has grown that
       by 50% from 2013 to 2023.
        
       The BC city houses only 8 billionaires, according to the ranking.
        
       These Canadian destinations pale in comparison to New York City, which
       took the top spot with 349,500 millionaires.
        
       According to Juerg Steffen, the CEO of Henley and Partners, the US
       leads the pack when it comes to being home to the most millionaires.
        
       The country has 11 cities on the ranking, including The Big Apple,
       Northern California's Bay Area, and Los Angeles.
        
       China also has a significant presence on the list, with five cities in
       mainland China.
        
       The report states that Beijing (125,600 millionaires), Shanghai
       (123,400), Shenzhen (50,300), Guangzhou (24,500), and Hangzhou
       (31,600) have all recorded significant increases in their millionaire
       populations over the past decade.
        
        
        
        
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