Canada is the second largest country in the world. However, with a population of just over 38 million, the nation is mostly a huge expanse of empty territory – much of which is frozen for most of the year. Many people think of Canada because of its close proximity to the United States – the richest country in the world. But the US has a huge population, and better climate. So, is Canada a poor country then? Actually, not at all, and let us explain why…
1. Canada Is The Eighth Richest Country In The World
A first reason why Canada is not a poor country is because it is actually one of the richest nations in the world
Canada has a total GDP of 1.98 trillion USD. This makes it the eighth richest nation globally. There are 187 countries in the world that are poorer than Canada. This clearly shows that Canada is a rich nation.
The large size of the Canadian economy means the country is able to remain prosperous. The government of Canada is able to raise revenue through taxation that can support a range of public services. The wealth generated by the Canadian economy means that people are able to have good jobs, and that successful businesses can function. People in Canada can access the goods and services they need. All these facts combined clearly highlight that Canada is not a poor country.
2. Canadian And Wealthy By Global Standards
A second reason why Canada is not a poor country is because Canadian people are rich by global standards.
The per capita income of Canada is 51,690 USD – this is essentially the average amount a Canadian earns in a year. Canada has one the highest per capita incomes in the world, meaning Canadian people are, on average, far from poor. People in Canada can generally afford a good quality of life and have enough income to cover their basic needs, such as housing, food, education and healthcare, and have some left over to spend on things they enjoy.
There are low levels of poverty in Canada, with only 8% of the population estimated to be living in destitution. Most people in Canada live well. There are good jobs available and people are able to provide for their families. Canadians that do live in poverty receive support from the state in areas such as housing and healthcare.
The combination of the high per capita income with the low levels of poverty in Canada show that it is not a poor country.
3. The Country Has An Advanced Economy
A third reason why Canada is not a poor country is because of its developed economy.
A developed economy is one that has a strong manufacturing base that utilises advanced technology. This ensures a high degree of wealth creation as advanced processes are present throughout the economy, meaning there can be significant value add in both the products and services generated. Having an advanced economy is key to a nation being prosperous. The fact that Canada is a fully developed economy shows that it is not a poor country.
Canada became an industrialized nation in the mid-19th Century. By the early 20th Century, Canada had successfully adopted technologies, scientific processes and research and had created an advanced economy. Having a developed economy means people in Canada work good jobs and earn higher wages. It also means the Canadian economy is able to provide high quality goods and services both domestically and internationally.
There are only 39 fully developed economies in the world. Canada is one of them. This is a clear indication that the country is not poor.
4. There Is Good Infrastructure In Canada
Another reason why Canada is not a poor country is because it has good infrastructure.
Quality infrastructure is key to a nation’s success. Roads, railways, airports, tele-communication networks and utilities are all vital for moving people, goods and information throughout a country’s territory. They are also key to building international trade as people and goods can more easily move into and out of a country. Poor countries are characterized by their bad quality infrastructure. The fact that Canada has good infrastructure shows it is not a poor country.
Canada has some of the best infrastructure in the world. As a huge country – the second largest in the world, Canada has a massive road and rail network. Almost all communities in the nation are connected by transport links, as well as to utilities and phone and internet networks. Canada has 26 airports with connecting flights to all over the world. Even remote and rural communities in Canada enjoy better infrastructure than in many poor countries. This again shows Canada is a rich nation.
5. Canada Has A High-Quality Education System
One reason why Canada is not a poor country is because it has a high-quality education system.
Low-income countries are unable to provide good quality education to all their children. Governments in poor nations lack the funds needed to support quality school systems. Children in poor countries often go without an education, especially if they live in rural or remote areas, or are living in poverty.
All children in Canada have access to free quality education. Children in Canada go to school from ages five to eighteen. There are essentially no children in Canada who go without an education, this includes in rural and remote parts of the country. Canada’s education system is ranked among the best in the world, and this demonstrates that it is not a poor country.
As well as receiving free primary and secondary education, young people in Canada have access to some of the top universities in the world. They also often receive financial support so they can attend their studies. Around 33% of people in Canada have a college degree. The standard, and access to, higher education in Canada further shows it is not a poor country.
6. Canadians Can Access The Healthcare They Need
A further reason why Canada is not a poor country is because it has a high standard of healthcare.
Like with education, poor countries are often unable to provide quality healthcare to their people. The governments of low-income countries lack the funds to run hospitals and clinics across the nation. This is also especially true in rural and remote areas. Many people in poor countries must pay their own money to fund the healthcare they need. This means if they are living in poverty, they are often unable to receive medical treatments.
Canada’s healthcare system is ranked 17th best in the world. Everyone in Canada can access medical treatment when they need it. Canada’s healthcare system receives significant government funding, offsetting the costs that have to be paid by Canadian people. The Canadian healthcare system reaches across the country, and even people in remote and rural areas have access to medical assistance.
The quality, and accessibility, of medical care in Canada is a clear indication that it is not a poor country.
7. Canada Has Many Global Businesses
A final reason why Canada is not a poor country is because it has many hugely successful global companies.
Poor countries have small economies. This means they struggle to support large companies that can compete globally. Many poor countries have economies mainly focused on agriculture or resource extraction. They lack businesses that can develop goods and services that other countries would want to import.
Canada has a large number of very successful companies. Brands such as Royal Bank of Canada, Canadian Pacific, Shopify, and Tim Horton’s are Canadian and are major global enterprises. The Canadian economy is sufficient in size to support major companies such as these. The Canadian labor market is also able to produce skilled workers who can take jobs within companies such as these. The ability of Canadian companies to attract, retain, and train high-skilled workers further shows that it is not a poor country.
The size of the Canadian economy, the number of highly lucrative Canadian companies and the strength of the country’s labor market all clearly demonstrate that Canada is wealthy nation.