Study puts St. Catharines in 20th place spot for residents to get rich

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Published January 17, 2023 at 1:34 pm

A recent study conducted to determine the best small cities in Canada for residents to potentially get rich put St. Catharines in 20th place.

The study, conducted by Yore Oyster, looked at three qualifying factors: Median household income after taxes, the monthly cost of living and GDP per capita.

In a blog for the site, written by Jordan Bishop, a Bachelor of Business Administration Finance, the top-20 list is centred around small cities that are attracting more people and businesses and use data from sources such as Statistics Canada, Government of Canada, CREA and each city’s official website.

“Canada is a great place to get rich,” reads the blog by Yore Oyster. “With its lower-cost of living, a high standard of living, and a stable economy, it’s the perfect destination for those looking for financial success.

“If you want to make it even easier on yourself, there are plenty of Canadian cities that will give you the best opportunities and perfect for people who want to get rich and live a luxurious lifestyle.”

The top 20 ranked cities are Oakville, Burlington, Saskatoon, Regina, Barrie, St. John’s, Saanich, Waterloo, Guelph, Sherbrooke, Kamloops, Greater Sudbury, Lethbridge, Kingston, Thunder Bay, Lévis, Kelowna, Trois-Rivières, Nanaimo and at the end, St. Catharines.

Here’s Yore Oyster’s look at why St. Catharines cracked its list of best small cities for getting rich in Canada:

“St. Catharines is a rapidly growing community, with many opportunities for business growth and development. The city provides a friendly, welcoming experience and can direct you to the right resources and supports for all your business needs with a thriving and supportive business community,” wrote Bishop.

“The city’s vision is to make St. Catharines the most dynamic, innovative, sustainable and livable city in North America with a commitment to help businesses succeed.”

With a population of 141,397 (all cities on the list were under 200,000), St. Catharines’ numbers were the three criteria were:

  • Median Household Income After Taxes: $56,729
  • Cost of Living (Monthly): $2,482
  • GDP Per Capita: $37,505

On a chart sourced from Statistics Canada, here’s how the Top-20 small cities measured up.

For a closer look at the list, click HERE.

~ With files from Gene Pereira

 

 

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