Interesting ranking of the richest cities in Canada presently – Canada is such a superb country in various regards, and she keeps excelling in the world scene. Here is a country with an impressive and strong economy – one of the largest in the world. It is not too surprising that many people from different places in the world are trying to migrate to the country. Canada can boast of great sectors (particularly petroleum and manufacturing), and all these keep pushing her wealth to a much-enhanced dimension.
So, today, Canada is one of the richest countries, courtesy her healthy economy and impressive policies. In fact, it is impressive to note that the wealth seems to be going around the country, and not just constrained to just a particular region only. So, many homes are enjoying wealth, and with this, more people elsewhere won’t hesitate to push to the country.
In this article, however, we will explore the top ten richest cities in the country (this will be determined by average annual income).
Here are they:
Top 10 Richest Cities In Canada 2020
1. Ottawa, Ontario
When you made mention of Canada, some names easily come to mind – one of which is Ottawa. And of course, Ontario is a very important region in Canada since it is the country’s capital. A lot of attention is given to the capital of every country, and Canada is not an exception. Here is a place where very important activities are being done, and it is normal to see wealth all around.
Of course, even in the capital of a country, some parts of the region are better than others. As far as Ontario is concerned, Ottawa is a city that excels, as it sits on the top of the richest cities in Canada.
Ottawa has a population of around 1.3M people, and can also boast of an average annual household income that is around $90,790 (which is the highest in the country). One important thing to note is the fact that, since this region is the capital of the country, there are a lot of government offices there. Since Canada is one country that prioritise the welfare and well-being of her citizens, they ensure they pay them reasonably well as salary. Therefore, those living in this area and works in the public sector earn a lot of money. According to a statistic, a lot of federal offices have their big presence in Ottawa, and they have thousands of people on their payroll.
It should also be added that the high tech industry in Ottawa is also booming, and has been playing its role in seeing to the increase in the movements of wealth in the region.
2. Calgary, Alberta
Another popular place in Canada is Alberta, and Calgary stood out, being the richest city in the country as a whole. One important sector that keeps increasing the wealth in this region is the oil and gas industry. It has helped in growing the size of the economy on an impressive level and has also seen a reduction in the rate of unemployment there. This is usually normal though. When we consider a place like Dubai that was shot to luxury via the oil and gas industry.
And so, with a population in the region of 1.39 million, Calgary can boast of an average annual household income that is around $89,490 – which placed the city on the second spot of our list. It should also be added that this city is seen to be one of the fastest-growing areas in Canada. It is normal. The oil and gas sector has an aura that attracts various other services. All these boosts the economy and creates more jobs.
3. Edmonton, Alberta
It’s Alberta again. This time around, the attention is on Edmonton – being the third richest city in the whole of Canada.
Just as stated earlier, the oil and gas sector is such an impressive one for various good reasons. Edmonton is just like Calgary in various regards – with a handful of her population also enjoying the oil wealth. That the city has an average annual household income of around $87,930 makes her the third on our list, and it’s not surprising, because the rate of unemployment is low.
Additional, just like a place like Dubai whose economy is being additionally assisted by tourism despite its abundant oil, the retail industry is also doing well in Edmonton (in fact, the city is well-known in the whole of North America as far as shopping is concerned)
4. Regina, Saskatchewan
Regina comes fourth on our list and is located in Saskatchewan. This shouldn’t be surprising, as the place has over a million residents and can also boast of an average annual household income in the region of $84,890.
Regina is the capital of the province of Saskatchewan and has a handful of government organizations therein. So, a lot of people there are entitled to a reasonable salary, and it explains why there is wealth in the region.
Of course, the public sector is not the only sector increasing the fortune of the region – but even private industries (such as telecommunications, retail, and manufacturing) also play reasonable roles in all these.
5. Guelph, Ontario
Now back to Ontario, and the next stop is the city of Guelph. Ontario is at the forefront as far as Canada is concerned – being the capital of the country. Guelph is the fifth richest city in the country as a whole.
However, this city stands out on some grounds. Unlike various other cities, Guelph has a small population size, but the average income is okay. In fact, the city is respected for being at the forefront when talking about places with the least unemployment rate in Canada.
For Guelph, the manufacturing industry is the main guy – as the sector has employed more people than in other sectors in the country. Apart from the manufacturing industry, educational services also help in pushing wealth around in Guelph.
6. Oshawa, Ontario
Oshawa is another city in Ontario and is the sixth on our list. Located in the southern part of the region, and has a small population (compared to various other cities in the country).
The city is synonymous with automobiles, as the industry plays a role in the presence of wealth in Oshawa (we shouldn’t forget that General Motors of Canada’s headquarters is in Oshawa). However, even beyond the automobile industry, the city has become an education hub that has some superb institutions in Canada as a whole – including Durham College and Trent University Durham.
7. Saskatoon, Saskatchewan
Saskatoon is located in Saskatchewan and is the seventh city on our list. It is actually the largest city in the province and has a population that is less than 300,000 (as of 2016). The city is one of the richest in the whole of Canada and has the likes of the University of Saskatchewan and Wanuskewin Heritage, Park.
With an average annual household income that is around $80,570, Saskatoon is one of the most important Canadian cities.
8. St. John’s, Newfoundland
St. John’s is located in the province of Newfoundland and Labrador, which is currently the eighth city on our list. Being the largest city of the province, it can also boast of a rich history as well as an impressive average annual household income (pegged around $78,210) – with a population that is around 219,207.
St. John’s was officially incorporated as a city in the year 1888, and due to its rich history, tourism is a big sector that keeps spreading the wealth in the region. The area actually played a role in the French and Indian War.
9. Victoria, British Columbia
The ninth richest city in Canada is Victoria of British Columbia. The city is actually the capital of the province, and it has a somewhat small population too.
Also called “The Garden City”, the city was named after Queen Victoria of England and has a long and rich history too. Combine with the fact that it is pretty attractive and nice, tourism is one of the things bringing wealth to the City. However, another sector that is doing well in Victoria is the tech sector.
Education is also one of the things too add in this discourse, due to the presence of the likes of the University of Victoria, Camosun College, Royal Roads University, and so on. Impressively, the city is not only regarded as one of the richest in Canada alone but also one of the best cities in the world that offers quality-of-life.
10. Kingston, Ontario
Kingston is the tenth city on our list of the top ten richest cities in Canada. Located in Ontario, capital of Canada, Kingston can boast of tons of Islands that attract tourists. It is also known as the “Limestone City” and was actually the first capital of the United Province of Canada. Kingston is a well-known city that has got the attention of various persons from various places in the world.
The city has a lot of wealth circulating within, and we will be closing the article with it.
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