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Canada: What makes it one of the most stable countries in the world?

Canada’s economic and social stability makes it one of the safest financial centers in the world.


Toronto, financial capital of Canada and 9th global financial center.
Toronto, financial capital of Canada and 9th global financial center.

Canada (9,000 km²) is the second biggest country in the world, and the ninth largest economy on the planet. It is renowned for its stability and the high standard of living its population of 38.9 million enjoy.


Its average net disposable household income is $34,421 USD per year (OECD average is $30,490 USD) and it is in the top-10 of the Organization for Economic Cooperation and Development countries with the highest level of well-being.


Economy


The Canadian Dollar, the country's official currency (equivalent to approximately $0.75 US dollars at the time of writing), is considered globally as a strong currency. From 1999 to 2021, the proportion of US dollars within central bank reserves globally has decreased from 70% to 59% (International Monetary Fund, 2022), while reserves in other foreign currencies, including the Canadian dollar, have increased.


Canada's financial strength is reflected in its AAA credit rating by Standard & Poor's (the highest on the scale). Its economy includes global companies, leaders in their sectors such as Bombardier, Scotiabank, Shopify and Enbridge are Canadian.


Innovation and entrepreneurship


According to the OECD, in 2023 Canada is the most attractive OECD country for startups , due to its favorable regulatory framework for new companies, large number of top-tier universities and availability of qualified talent.


Canada is also a financial hub. 3 Canadian cities are among the 12 major financial centers in North America (The Global Financial Index 33, 2023): Toronto, the financial and business capital of Canada, which is headquarters for the country’s major financial institutions, followed by Vancouver and finally Montreal, Canada’s Fintech center (home to 226 Fintech companies growing at over 15% every year since 2015).


In summary, Canada's economic and social conditions create an environment of stability that makes this country one of the safest financial centers in the world.


Contact Us and learn how to protect your assets.


Aktagold's mission is to help people around the world protect their money from the economic and financial instability of their home countries. Aktagold gives them access to gold savings in Canada's most secure vaults, an option that was previously reserved only for the wealthiest.


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