Canadian millionaires’ club to grow by 32 per cent: study

TORONTO – A new study suggests that Canada’s millionaire club is going to have a lot more members over the next decade.

The study, released by the Deloitte Center for Financial Services, predicts the number of Canada’s millionaires will surge to more than 2.4 million by 2020 – up by more than 32 per cent from the current 1.7 million.

The study also says the assets of those millionaires will reach $6.77 trillion.

The surge in wealth is partly due to Canada’s strong economy, particularly in the resource sector.

Globally, wealth among millionaire households could more than double over the next decade in 25 major economies, growing from an estimated $92 trillion this year to $202 trillion in 2020.

Despite the growth of emerging markets, developed nations are expected to remain the centres of global wealth, with 43 per cent of the world’s wealth held by millionaires in the U.S.