Top 10 Richest Provinces In Canada 2020

Richest Provinces In Canada

Interesting details on the Richest Provinces In Canada – Canada is one of the richest countries in the world, leading a whole lot of other countries on rankings via her impressive GDP. Impressively, Canada’s is not a case where wealth is simply concentrated in a particular region, while others languished in want. Instead, there are a handful of rich provinces in the country, and we will be exploring the top ten richest of them in this article. 

Of course, we will base the ranking on the GDP per capita levels and we will also go on highlighting some of their individual unique features. 

Top 10 Richest Provinces In Canada 2020

  • 1. Alberta – C$78,154

The richest province in the whole of Canada is Alberta, and you will get to see what has given this place an edge over the rest. 

Situated in the western part of the country, the largest city in Alberta is Calgary (although the capital is Edmonton). One prominent thing that made this area so rich in oil (leading the rank in the whole country). Additionally, Alberta is regarded as a large transportation hub. The transportation industry flourishes here, providing numerous jobs and generating hefty revenue, spreading the wealth. 

Alberta, which also has a strong tourism industry, can boast of having a GDP per capita that is around C$78,154 and has all it takes to be the first province on our list of the top ten richest provinces in Canada. 

Richest Provinces In Canada

  •  2. Saskatchewan – C$70,654

Saskatchewan is the second richest province in Canada. Even though it has a very large water area, it remains an innovative region, with its capital at Regina. Saskatchewan’s economy is dominated by agriculture and mining, and the place excelled in the country at large. 

This province is not only making great strides in the production and supply of food alone, but it is also doing pretty well as far as the oil industry in Canada is concerned. Resources such as potash and uranium are also being exported from here, and it is not surprising that the province has a GDP per capita that is in the region of C$70,654.

  • 3. Newfoundland And Labrador – C$65,556

One the third spot in Newfoundland and Labrador. The province is actually located in the Atlantic region and combines mainland Labrador with the island of Newfoundland. 

Almost everyone here speaks the English language, and there are really a lot of advantages associated with settling in the province. The {{{{largest city in Newfoundland and Labrador}}}} is St. John’s – which is well-known in the province. 

The economy here flourishes as a result of various factors. One prominent industry here is the service industry. There are banks, health care firms, manufacturing firms, and so on. Here is a province that can boast of a GDP per capita that runs into C$65,556, and so, is the third on the list. 

  • 4. Ontario – C$48,971

Perhaps, the most important province in Canada as a whole. Ontario is located in the east-central part of the country, and can also boast of being the second biggest province when talking about population. 

The capital of Ontario is Ottawa, and the area hosts a lot of important federal structures and organizations. A lot of important activities are always going on here, and we should also add that the province is ahead in terms of manufacturing. 

There are various industries in Ontario that makes stuff that is being shipped to other areas, bringing a lot of money to the government. The province is also filled with natural resources and it is also regarded as Canada’s backbone as far as financial services are concerned. The GDP per capita of Ontario is still C$48,97 as at last time checked, and the province is the fourth richest province in Canada. 

  • 5. British Columbia – C$47,579

The fifth richest province in Canada is British Columbia. The region is actually situated at the western point of Canada and has become one of the most important parts of the country. 

Almost everyone in Canada knows Vancouver, and it is the largest city in British Columbia (even those the province’s capital is Victoria).

British Columbia has a resource-based economy and has a very large chunk of wealth that keeps circulating around society. The province is actually advantaged, as it is a center of international trade. Talking about the weather, it is pretty good, and so, agriculture keeps flourishing there. Still on agriculture, even though the province has just a small portion of arable land, they have been adequately utilized, and it yields impressively well. 

British Columbia has a lot of resources that ensured the growth of its wealth, and it has a GDP per capita that is around C$47,579.

  • 6. Manitoba – C$44,654

Manitoba is the sixth richest province in Candace, and it is a region associated with a flat topography as well as a continental climate. 

Winnipeg is a very popular place in Canada, and it is actually the capital of Manitoba, whose economy is based on agriculture. Apart from the influence of the agriculture sector, there have also been employment opportunities being brought about by companies that deal in sectors like energy, mining, transportation, and so on. Manitoba can boast of a GDP per capita that is around C$44,654.

  • 7. Quebec – C$43,349

Quebec is one of the most popular provinces in the country – and it is for various nice reasons. Situated in the country’s East Central part, Quebec is the seventh richest province in Canada. 

Unlike what appears to be the norm elsewhere, here in Quebec, there are a lot of French speakers. In fact, the majority of those living there speak the language as their first language (which is one of the things that sets Quebec apart in Canada). 

Quebec is big (compared to various other Canadian provinces), and has a lot of people living there. It has a lot of natural resources, which has given it a lot of advantages ahead of some others. Additionally, the country benefits from her natural resources. 

Additionally, there are various companies that operate in the province, providing lots of jobs in biotechnology, the pharmaceutical industry, and so on, and it has a GDP per capita that runs into C$43,349.

  • 8. New Brunswick – C$42,606

The eighth province on our list is the New Brunswick. One thing we should first note about the province is its “language uniqueness” (a place that is constitutionally bilingual). Although a large chunk of people there speaks English, other numerous lots speak French. 

Fredericton is the capital of New Brunswick, and unlike a place like Nova Scotia whose economy is referred to as a ‘resource-based’ one, for this, it is more about a ‘service-based’ one. Various coys run their stuff there, from different industries, like education, insurance, retail and so on. The economy also benefits from activities that have to do with agriculture (farming and fishing) and can boast of a median income in the region of C$42,606.

  • 9. Nova Scotia – C$39,025

The popular Nova Scotia is ninth on our list and can boast of being the most populous province in Atlantic Canada. This province is also impressive as, despite being the second smallest province in the whole of Canada, it can still grow superbly in wealth. 

The capital of Nova Scotia is in Halifax and owns what is referred to as a resource-based economy. However, the leadership has been doing all that can be done to ensure diversity, and via strategic steps and actions, Nova Scotia has presented itself as a very important province in Canada. 

  • 10. Prince Edward Island – C$36,740

This province is simply superb due to various factors. Despite being a pretty small area (in fact, it is one of the smallest in the country as a whole), Prince Edward Island has found its way into the tenth spot of the list of richest provinces in Canada. 

The province might not be endowed in terms of land area and population, still, yet, wealth is flowing therein. It is actually made up of the main island of Prince Edward as well as over two hundred other minor islands. In fact, Prince Edward Island has also tagged “Birthplace of Confederation” and there is the presence of various companies which are operating in different industries, generating more wealth for the government and residents. 

The province is rich in resources and it translated into wealth for the citizens. It can also boast of natural gas, and with a GDP per capita of C$36,740, Prince Edward Island sits on the tenth spot of the list. 

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