Canada continuously impresses the rest of the world. The share of their population that is of working age is shrinking. Fifty years ago, there were about seven workers for each senior in Canada. Now, there are approximately three workers for each senior and projected to drop to close to only two workers for each senior in the foreseeable future. Immigration is the only option with unbelievable results.
In 2022, Canada welcomed approximately 437 000 new permanent residents setting a new record. Immigration is the main driver of the population’s economic growth and benefits. Close to two-thirds of recent immigrants are of a core working age, between 25 and 54, rejuvenating Canada’s population and contributing to labour growth and investment.
Along with speeding up processes to improve the immigration journey, Canada is making the lifestyle, work benefits and wages better for a higher quality of life. The minimum wage for the federal jurisdiction is set to increase from CAD$15.55 to $16,65 as of April 2023, if the minimum wage is higher in the province, then that is what is expected to be paid. The cost of living in Canada is higher than in South Africa but when you compare the minimum wage to our R21,41 per hour it all balances out.
Some reassuring figures after comparing life in Cape Town vs Calgary - we can see that the average net salary is 190% more in Canada. Cape Town is R22 700 vs the average salary in Calgary, Canada is R65 800. Fixed property interest rates in Canada are sitting at 6% compared to South Africa’s increasing repo rate.
The information in favour of Canada helps put the worrying expat’s fears at ease. The first step is taking a free assessment to see if you qualify.