The world is getting wealthier, with the ranks of those with US$1 million or more continuing to expand, according to a recent report from Swiss financial services firm UBS Group AG.
In Canada, median wealth per adult ballooned by nearly 10 per cent in local currency in 2024, the report stated.
Real estate appreciation and a robust stock market last year are among the factors contributing to this, said Josh Sheluk, portfolio manager at Verecan Capital Management.
“I think as long as you’re having growth of economies globally, you’re going to see spillover effects to Canada and, quite frankly, to most regions of the world,” Sheluk said. “I think we’re well positioned here in Canada to benefit.” — Serah Louis, Financial Post
