Good morning,

Please see the press release below from WealthInsight, the London based global wealth consultancy, which has conducted an in-depth analysis of the Canadian high net worth community.

This press release is part of WealthInsight’s upcoming report on Canada – 2013 Wealth Book: Land of the Tar Sands.

The report focuses on millionaire (HNWI) performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012. This enables us to determine how well the country’s millionaires have performed through the crisis.

Press release: Millionaire numbers in Canada grow by 8% in 2012

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Key findings:

There are just over 422,000 HNWIs in Canada in 2012. These HNWIs hold US$1,529 billion in wealth which equates to 26% of total individual wealth held in the country.
Canadian HNWIs outperformed the worldwide HNWI average during the review period (2007 to 2012) – worldwide HNWI volumes decreased by 0.3% whilst Canadian HNWI numbers rose by 1.8%.
In 2012, Canadian HNWI numbers rose by 7.7%, following a drop of 3.6% in 2011.
At the end of 2012, Canadian HNWIs held 26% (US$372 billion) of their wealth outside their home country, which is in line with the worldwide norm of between 20% and 30%.
Ontario is the largest state for Canadian HNWIs, accounting for 47% of total HNWIs with just over 198,000 individuals. There are also sizable HNWI populations in Quebec (81,800 HNWIs), Alberta (58,700 HNWIs), British Columbia (49,700 HNWIs) and Manitoba (10,500 HNWIs).
Toronto is the largest city for Canadian HNWIs, accounting for 28% of total HNWIs with just over 116,000 individuals. There are also sizable HNWI populations in Montreal (52,700 HNWIs), Calgary (32,100 HNWIs), Vancouver (25,600 HNWIs) and Edmonton (14,100 HNWIs).
HNWI volumes in Canada’s largest city, Toronto, rose by 4% over the review period, which was slightly above the country average.
HNWI performance in the two oil & gas capitals of Canada: Calgary & Edmonton was also strong with HNWI volumes in the two cities rising by 8% and 5% respectively. This was heavily assisted by rising commodity prices – oil prices rose by 53% over the review period.
Ottawa was the top performing Canadian city for HNWIs, with millionaire numbers rising by 11% from approximately 9,000 in 2007 to over 10,000 in 2012. This rise was assisted by strong growth in the hi-tech sector in the city.

For more information, please find a summary of our data in the briefing attached.