Is Canada one of the most comfortable countries in the world?
Canada has long been recognized as one of the most comfortable countries on earth. In addition to a fulfilling life for its citizens, it is also a great place for immigrants . Although the standard of living varies from country to country, every country has its strengths and weaknesses. Next, let’s explore whether Canada qualifies for the title of most comfortable country.
Health and Safety in Canada
In general, the people of Canada are healthy. The average life expectancy for men in Canada is about 80 years, while for women it is 84 years. The leading cause of death for both men and women is cancer, followed by heart disease. Together, these two diseases account for half of all natural deaths in Canada. The other half is due to a variety of other more common diseases and conditions, such as stroke, diabetes, respiratory disease and pneumonia.
In addition, all forms of accidents, including traffic accidents or work-related fatalities, generally cause about 5% of all deaths, while suicide accounts for about 1%. Although both of these deaths are common causes of death for Canadians under the age of 40.
It is important to note that less than one percent of Canadians living with AIDS are primarily homosexual men and frequent injecting drug users. Aboriginal Canadians also have a higher rate of infection than Canadians of other races. Although the cause is not fully understood, Canada has the highest incidence of multiple sclerosis on the planet, with 290 out of every 100,000 people suffering from the neurological disease.
Personal Finance in Canada
As Canada is a country with a large economy, its people enjoy a high standard of living. However, personal debt is a major problem in Canada. According to statistics, Canadians are the most indebted people in the Western world. The average debt to income ratio for Canadians is about 170%. However, most of the debt held by Canadian individuals is in the form of home mortgages. This is reasonable for Canadians living in large cities where real estate is comparatively expensive. However, the high cost of housing ensures that even heavily indebted Canadians have a stable balance of debt assets.
Housing in Canada
The general homeownership rate in Canada is about 66%. Canadians usually live with their parents until they are in their 20s, and then rent a home until they are in their 30s. They normally mortgage their home or apartment with their spouse by that time. However, a growing number of Canadians are choosing to rent instead. Affordable housing is a growing concern in many of Canada’s largest cities, where the cost of real estate is the highest among the world.
The Canadian government estimates that 150,000 to 300,000 Canadians “experience homelessness” in a given year, meaning they temporarily lack a permanent place to live. A network of homeless shelters operated by the government and charitable organizations provides temporary housing for most of Canada’s homeless. The majority of Canada’s homeless population is made up of middle-aged men, and Aboriginal Canadians are overrepresented.
Poverty and Economic Inequality in Canada
The Canadian government does not have an official name for poverty, which means that it is difficult to specify the number of Canadians who are “poor”. Statistics Canada classifies Canadian households with incomes less than half of the Canadian median household income as “low income,” and the low income threshold (LICO) is used to determine whether a person’s income would be more accurate given the size of the person’s household, the size of the country in which they live, etc. This is not enough to survive.
Yet economic inequality is generally higher in Canada among Western countries, and the gap between rich and poor has been steadily increasing since the 1990s.
The standard measure of economic inequality is the so-called Gini coefficient, which ranks societies from a minimum of zero to a maximum of 100. According to the World Bank, Canada’s inequality score of about 33 is worse than most countries in Western Europe, but better than the United States and the United Kingdom. According to Statistics Canada, the richest quintile of the Canadian population holds nearly 50 percent of all Canadian household wealth, with the richest one holding nearly 10 percent of all wealth. After all, Canada is still a country with a high rate of economic mobility, and the vast majority of poor Canadians will experience personal wealth growth over their lifetime.
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