While Canada's ranking as the 13th wealthiest nation globally, as reported in the 2026 UBS Global Wealth Report, reflects a strong economy, it also highlights significant challenges related to wealth inequality. The report indicates that while average wealth has increased, median wealth has declined in most markets, suggesting a widening gap between the wealthiest individuals and the broader population.
In Canada, approximately 55% of adults hold assets above US$100,000, positioning the country among the top nations in terms of wealth distribution. However, this statistic masks underlying disparities. The concentration of wealth among the top earners means that a substantial portion of the population holds significantly less, contributing to income inequality.
The decline in median wealth is a concerning trend that reflects the challenges faced by middle and lower-income Canadians. This trend suggests that while the economy is growing, the benefits are not being equitably distributed. Addressing this issue requires targeted policies aimed at reducing income disparity, such as progressive taxation, increased access to quality education, and affordable healthcare.
Moreover, the report highlights that nearly one million new millionaires were created globally in 2025, with the United States accounting for almost half of this growth. Canada did not feature in the list of countries with the highest growth rates of U.S. dollar millionaires, indicating a more stable wealth growth pattern relative to some other regions. This underscores the importance of focusing on inclusive wealth distribution policies within Canada to address inequality concerns comprehensively.