Cost Of Living Doubles In Canada As It Witnesses Mass Exit Of International Students, Expats


Rohit Kulkarni

Rohit Kulkarni

Dec 14, 2023


A significant number of immigrants in Canada are grappling with the escalating cost of living, leading to a notable increase in emigration. Recent data reveals that 42,000 individuals left Canada in the first half of 2023, with 93,818 departing in 2022 and 85,927 in 2021. Emigration, currently standing at about 0.09% of the population, spiked to 0.2% in the mid-1990s, as per official government statistics.

Cost Of Living Doubles In Canada As It Witnesses Mass Exit Of International Students, Expats

Emigration Trends in Canada: Soaring Living Costs Drive Immigrants Away

The Institute for Canadian Citizenship reported that the emigration rate reached a two-decade high in 2019, and though it decreased during pandemic lockdowns, recent Statistics Canada data indicates a resurgence. High living costs, particularly skyrocketing housing expenses, are cited as the primary factor influencing the decisions of many immigrants to leave.

According to Reuters, approximately 60% of household income is required on average to cover home ownership costs in Canada, reaching 98% in Vancouver and 80% in Toronto, based on data from the Royal Bank of Canada’s September report. Interviews conducted by Reuters with immigrants reveal the struggles they face due to the soaring cost of living.

Canadian Living Challenges: Personal Stories Reflecting the Struggles of Immigrants Amid Rising Costs

Cara, a 25-year-old refugee from Hong Kong who arrived in Canada in 2022, pays C$650 ($474) monthly for a single-room basement apartment, constituting 30% of her income. Despite working three part-time jobs at the minimum wage and attending adult learning school, she finds it challenging to save compared to her previous situation in Hong Kong.

Stankus, paying C$2,000 for a one-bedroom apartment, highlights the difficulty of affording basic necessities on a graduate student’s budget. Additionally, recent changes announced by Immigration Minister Marc Miller will more than double the cost-of-living financial requirement for incoming international students, impacting those from India, a leading source of study permit holders in Canada. Parents in Punjab express concerns about the added financial burden on those sending their children to study in Canada.


Rohit Kulkarni
Rohit Kulkarni
  • 1178 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online