Vancouver ranks on global list of cities with the most ultra-rich residents

Vancouver has been ranked 41st in the world for cities of the super wealthy, according to a report by advisory firm Henley & Partners. 

The report measures how many centi-millionaires — people who have more than $100 million USD in investable assets — and billionaires reside in each city. 

According to the report, as of June 2023, Vancouver is home to 72 centi-millionaires and six billionaires. 

The report also projects 67 per cent growth in the number of centi-millionaires in Vancouver over the next decade. 

But experts say this report does not mean people in the city are making more money. 

Bryan Yu, chief economist at Central 1 Credit Union, says many wealthy people from other parts of the world choose to move to Vancouver for a number of reasons. 

"It's clear that it's a highly desirable environment to be in. People … have a lifestyle that they enjoy near the mountains and near the ocean," he said. 

Andy Yan, director of the City Program at Simon Fraser University, says the report highlights income inequality in the city. 

"Vancouver actually has very much the housing prices of San Francisco, but the local median household incomes of Columbus, Ohio," he said. 

Toronto, the only other Canadian city on the list, came in at 19th with 192 centi-millionaires and 18 billionaires.

New York topped the list with 775 centi-millionaires and 62 billionaires.