Canada, known for its high standard of living, is now witnessing a surge in emigration due to the escalating cost of living. Recent statistics reveal that in the first half of 2023 alone, an astounding 42,000 individuals decided to leave the country, pushing the emigration rate to 0.09% of Canada’s total population.
The exodus rate has reached a significant two-decade high back in 2019 and continues to rise rapidly. Immigrants primarily cite the exponential increase in housing expenses as their primary reason for contemplating departure. Current figures indicate that an average Canadian household requires about 60% of its income to cover homeownership costs.
For international students considering Canada for further studies, there’s more alarming news on the horizon. Starting January 1, 2024, the cost-of-living financial requirement for international students in Canada is set to more than double. This significant hike will undoubtedly put added financial pressure on families, specifically those in Punjab, India, a hotspot for Canadian study permit holders in 2022.
In light of these developments, those planning to move to Canada should importantly reconsider their decisions. It’s crucial to thoroughly assess the rising living costs, the financial requirements for international students, and the mounting housing expenses before making a move.
On top of the financial challenges, there are other factors that are making Canadians reconsider their stay in their home country. The harsh weather conditions, particularly the long, brutal winters that can last up to six months, have always been a hurdle for both natives and newcomers. However, climate change is augmenting these weather extremes, with record-breaking cold temperatures and snowfall amounts becoming increasingly common.
Moreover, despite Canada’s reputation for being friendly and welcoming, its cities have consistently ranked low in global surveys measuring social connectedness and sense of community. This isolation can be especially challenging for immigrants, who may struggle with language barriers and cultural differences.
For skilled workers, the job market can be equally daunting. While certain sectors such as technology and healthcare have robust demand, others like arts, entertainment, and certain service sectors have been hit hard by the pandemic. The result is an imbalanced job market that is difficult to navigate for many, particularly those seeking mid-level positions. Competition is fierce, and the high cost of living doesn’t make the situation any easier.
In conclusion, potential migrants need to seriously consider these factors before deciding to relocate to Canada. A comprehensive understanding of not just the positives but also the downsides of life in Canada is essential to making an informed decision that ensures a comfortable and sustainable lifestyle.
