China’s Millionaire Migration
A 2016 SBS Dateline episode which explores the phenomenon of Chinese immigration into Vancouver which has seen over 100,000 Chinese millionaires moved into the city. The mass migration has seen everything from the birth of a new reality TV show to a huge property boom which has made property increasingly unaffordable. Are these millionaire migrants a blessing or a curse for Vancouver?
But why Vancouver? That is the result a visa system introduced by the Canadian government which welcomes foreigners if they have a net worth of at least $1.6 million. Unfortunately for wage earners in Vancouver this has resulted in the city being named as the second most unaffordable city in the world for four of the past five years.