One of those people is Roland Cameron from Hamilton, Ont. Cameron and his wife arrived in Barbados on July 10 and plan to live there permanently. The couple had considered living in other countries before settling on Barbados, where Cameron’s father’s side of the family lives. In search of a lower cost of living, the couple hopes to make the value of their dollar go further, Cameron said.
“The fundamentals of why we’re paying so much for stuff doesn’t make sense,” the 48-year-old business owner told CTVNews.ca in a telephone interview on June 12. “We would always come up with more income, but new costs would pop up.
High housing costs played a key role in Cameron and his wife’s decision to leave Canada, he said. For his four-bedroom, two-bathroom home in Ontario, Cameron’s monthly mortgage payment was about $5,500, he said.
But in Barbados, Cameron is renting a three-bedroom, three-bathroom home in Saint Philip for slightly more than $3,000 per month. The house spans about 2,300 square feet and includes a pool.
Roland Cameron is renting a three-bedroom, three-bathroom home in Saint Philip, Barbados after he and his wife decided to move to the Caribbean country. (HANDOUT)
According to Numbeo, an online database where users can share information related to the cost of living in various countries, grocery items such as milk, bread and eggs are more expensive in Barbados than in Canada. Despite this, the couple hopes to save money in other ways. For utilities such as electricity, water and gas, for example, Cameron expects to pay about $250 per month in Barbados, compared to a monthly payment of $593 while living in Hamilton.
Like many Canadians who reached out, Cameron said he hopes the move will have a positive impact on his overall quality of life, allowing him to generate more disposable income to spend on recreational activities and eventually growing his family. Cameron said he and his wife had held off on having children while living in Canada, but plan to revisit the idea now that they’re living in Barbados.
“We see that we have better opportunities for us somewhere else [compared to] what Canada seems to be able to provide for us moving forward,” he said.
Roland Cameron and his wife arrived in Barbados on July 10. (HANDOUT)
‘DIFFERENCE BETWEEN SURVIVING AND LIVING’
Steve Thurrott, who is originally from Ottawa, also decided to leave Canada in March 2020 because of the high cost of living. More than three years after leaving, Thurrott is now visiting Alberta before he and his wife permanently settle in Cambodia.
“I was in Banff and a little restaurant by the lake wanted $17 for a hotdog,” Thurrott told CTVNews.ca in a telephone interview on July 4. “I just don’t understand how people survive here.”
The 45-year-old veteran receives military and disability pensions, following his medical release from the Canadian Armed Forces in 2020. But this money was barely enough to afford his monthly expenses while living in Canada, he said. After visiting Mexico, the Philippines and Alberta, Thurrott and his wife plan to move to Cambodia, where the cost of living is “far more affordable” compared to Canada, he said.
Starting in August, Thurrott and his wife will live in a three-bedroom, three-bathroom home with a pool while paying $300 per month in rent, he said. Meanwhile, in Canada, the average price to rent a one-bedroom unit is $1,837, based on the latest report from Rentals.ca.
While living in Cambodia, Steve Thurrott and his wife will stay in a three-bedroom, three-bathroom home with a pool while paying $300 per month in rent. (HANDOUT)
According to Numbeo, the average price of food and transportation in Cambodia is generally cheaper than it is in Canada. Grocery items such as a dozen eggs and a loaf of bread, for example, cost less in the Asian country. Additionally, the price of a meal at an inexpensive restaurant in Cambodia can be as low as $3 per person, said Thurrott, who visited the country earlier this year.
In terms of transportation in Cambodia, a short trip via tuk-tuk, a three-wheeled motor vehicle, can cost as little as $1 while a taxi ride over longer distances can cost as much as $50, although prices can be negotiated, Thurrott said. Purchasing a new or used car, however, tends to be more expensive in Cambodia than in Canada, he said.
Steve Thurrott and his wife in Mexico. The couple plans to move to Cambodia in August. (HANDOUT)
Aside from mandatory expenses, the cost of products and services that aren’t essential, such as a trip to the movie theatre or going on a scenic tour, are also less expensive in Cambodia compared to Canada, Thurrott said. Being able to do more of these recreational activities has greatly improved his quality of life, he said.
“When all of these other extra costs are so much cheaper, the quality of life that that brings is huge,” he said. “There’s a difference between surviving and living.”
FATHER OF TWO NO LONGER SEES CANADA AS THE ‘END GOAL’
Shane Baetz, who grew up near London, Ont., began working in the Philippines in 2011. About a decade later, during the COVID-19 pandemic, he returned to Canada with his wife and two children. He had been laid off at the time and his family was considering permanently relocating to Canada, he said.
But as his family looked for a new home, they saw average prices were rapidly rising. By February 2022, the national average price of a home peaked at $816,720, according to the Canadian Real Estate Association. Looking at rising home prices in London, Ont. and the Greater Toronto Area, Baetz said he didn’t know if it made financial sense for his family to stay in Canada.
“Houses were going up, like, hundreds of thousands of dollars within months,” the 48-year-old told CTVNews.ca in a telephone interview on July 5. “It was shocking.”
Shane Baetz with his wife and two daughters. (HANDOUT)
“I always felt like my daughters were going to have a better life in Canada but I wasn’t seeing that anymore,” he said. “It’s sad to no longer perceive Canada as an end goal.”
Rising home prices ultimately led Baetz and his family to return to the Philippines in March 2022, he said. They now rent a three-bedroom, three-bathroom condominium in Manila for about $4,000 per month, he said.
Although leaving Canada has made it difficult to spend time with his relatives, Baetz plans to continue living in the Philippines with his wife and daughters, he said. There, he is able to provide them with greater financial stability and a better quality of life, he said.
“The list of reasons to stay in the Philippines is probably longer than the list of reasons to move back to Canada,” said Baetz. “The future feels like it’s brighter.”
It’s not uncommon for Canadians to settle in countries with a low minimum wage, said Tsur Somerville, an associate professor of strategy and business economics at the University of British Columbia’s Sauder School of Business. For those who have generated income while living in Canada, it is easier to make this money go further, he said.
“If I take my wealth that I’ve accumulated in Canada and then move to someplace where incomes are much lower and wages are much lower, then everything is going to be a much lower price,” Somerville told CTVNews.ca in a telephone interview on June 13.
Countries such as Cambodia and the Philippines have minimum wages that are lower than the base salary earned by workers in Canadian provinces and territories. In the Philippines, for example, minimum wage is about $14 per day. In Canada, employees can make at least $104 per day, with the minimum wage ranging from $13 to $16.77 per hour depending on the province or territory.
FIRST-TIME HOMEBUYERS AND RETIREES CONSIDER LEAVING CANADA
Several Canadians also wrote to CTVNews.ca about plans to leave Canada in the near future, including Andre Fortier, who is looking to purchase his first home.
Fortier, who is currently renting an apartment in Toronto for about $1,600 per month, said he is considering moving to Colombia, where his partner is from. It is there that he hopes to purchase a home, as he does not see himself being able to afford a property in Canada.
“I’ve been contributing in this country all of my life, I feel completely cheated,” the 59-year-old told CTVNews.ca in a telephone interview on June 12. “I’m nowhere near where I thought I was going to be by the time I’m 60, and it’s not from the lack of trying.”
Although average home prices may be cheaper outside of major urban hubs such as Toronto, Fortier said he has been struggling with finding full-time employment outside the city. If he were to stay in Canada during his retirement years, money from his pension would barely cover his rent, he said.
During a visit to Colombia in December, Fortier saw homes for sale between $50,000 and $100,000, he said. He and his partner are now looking at moving to Colombia in two years’ time, and plan to live there permanently.
Andre Fortier is considering moving to Colombia, where his partner is from. (HANDOUT)
“The cost of living here is exponential to what it is there,” he said. “If I stay in Canada … I’m going to be absolutely broke.”
Based in Mission, B.C., Leslie Dunn is also considering moving to another country. The semi-retired 57-year-old hopes to purchase a home in Mexico and split her time between both countries throughout the year.
Research conducted by Far Homes, a real estate website that helps foreigners purchase properties in Mexico, shows an increasing number of Canadians have been migrating there since 2020. Data from the Mexican government shows that 1,032 temporary resident cards were issued to Canadians in 2020, compared with 3,160 cards issued in 2022, according to a report from Far Homes.
Recent surveys conducted by the company show a significant factor behind this trend is the desire for a lower cost of living. Dunn said this is one of the main reasons behind her decision to settle in Mexico. Rising average home and rent prices in Canada are especially concerning to her, along with the elevated cost of food, she said.
“The cost of living is expensive [in Canada],” Dunn told CTVNews.ca in a telephone interview on June 22. “Housing rates pretty much everywhere are on the incline [and] I find that there’s a lot of people that are house poor.”
Leslie Dunn hopes to purchase a home in Mexico and split her time between both countries throughout the year. (HANDOUT)
Based on recent trips to Mexico, Dunn said the price to purchase an average condominium is about $125,000, while the cost of a detached house can be about $400,000. She recently offered to buy a four-bedroom townhouse for about $180,000 in the town of Puerto Morelos, she said. Property taxes for the 2,700-square-foot home would have been just under $100 per year.
Although the deal did not go through, Dunn said she and her partner continue to look for homes to either buy or rent in Mexico.
HOW INCREASED SUPPLY CONTRIBUTES TO HOUSING AFFORDABILITY
Canadians, along with residents of countless other countries, continue to struggle with affordable housing amid a cost of living crisis, Somerville said.
“Rent and mortgage payments have gone up a lot more than incomes, particularly in last two to three years,” said Somerville, referring to Canada.
Although average home prices have largely fallen from their peak in February 2022, they haven’t decreased enough to offset the higher mortgage payments brought about by the Bank of Canada’s interest rate hikes, Somerville said.
Additionally, while leaving Canada to move to a lower-income country may seem like a good way to save money, this could have unintended consequences for those foreign communities, with ripple effects that may not be “unambiguously positive,” Somerville said.
In regions that see high levels of relocation by wealthy homebuyers, for example, if the existing housing supply does not meet demand, this can drive up average home prices in these areas, Somerville said.
“Your ability to pay more for housing … can have negative local effects,” he said.
Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.
The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.
Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.
The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.
The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.
The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.
The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.
Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.
In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.
“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.
As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.
Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.
REGINA – Saskatchewan’s provincial election is on Oct. 28. Here’s a look at some of the campaign promises made by the two major parties:
Saskatchewan Party
— Continue withholding federal carbon levy payments to Ottawa on natural gas until the end of 2025.
— Reduce personal income tax rates over four years; a family of four would save $3,400.
— Double the Active Families Benefit to $300 per child per year and the benefit for children with disabilities to $400 a year.
— Direct all school divisions to ban “biological boys” from girls’ change rooms in schools.
— Increase the First-Time Homebuyers Tax Credit to $15,000 from $10,000.
— Reintroduce the Home Renovation Tax Credit, allowing homeowners to claim up to $4,000 in renovation costs on their income taxes; seniors could claim up to $5,000.
— Extend coverage for insulin pumps and diabetes supplies to seniors and young adults
— Provide a 50 per cent refundable tax credit — up to $10,000 — to help cover the cost of a first fertility treatment.
— Hire 100 new municipal officers and 70 more officers with the Saskatchewan Marshals Service.
— Amend legislation to provide police with more authority to address intoxication, vandalism and disturbances on public property.
— Platform cost of $1.2 billion, with deficits in the first three years and a small surplus in 2027.
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NDP
— Pause the 15-cent-a-litre gas tax for six months, saving an average family about $350.
— Remove the provincial sales tax from children’s clothes and ready-to-eat grocery items like rotisserie chickens and granola bars.
— Pass legislation to limit how often and how much landlords can raise rent.
— Repeal the law that requires parental consent when children under 16 want to change their names or pronouns at school.
— Launch a provincewide school nutrition program.
— Build more schools and reduce classroom sizes.
— Hire 800 front-line health-care workers in areas most in need.
— Launch an accountability commission to investigate cost overruns for government projects.
— Scrap the marshals service.
— Hire 100 Mounties and expand detox services.
— Platform cost of $3.5 billion, with small deficits in the first three years and a small surplus in the fourth year.
—
This report by The Canadian Press was first published Oct .17, 2024.
VANCOUVER – More than a million British Columbians have already cast their provincial election ballots, smashing the advance voting record ahead of what weather forecasters say will be a rain-drenched election day in much of B.C., with snow also predicted for the north.
Elections BC said Thursday that 1,001,331 people had cast ballots in six days of advance voting, easily breaking a record set during the pandemic election four years ago.
More than 28 per cent of all registered electors have voted, potentially putting the province on track for a big final turnout on Saturday.
“It reflects what I believe, which is this election is critically important for the future of our province,” New Democrat Leader David Eby said Thursday at a news conference in Vancouver. “I understand why British Columbians are out in numbers. We haven’t seen questions like this on the ballot in a generation.”
He said voters are faced with the choice of supporting his party’s plans to improve affordability, public health care and education, while the B.C. Conservatives, led by John Rustad, are proposing to cut services and are fielding candidates who support conspiracy theories about the COVID-19 pandemic and espouse racist views.
Rustad held no public availabilities on Thursday.
Elections BC said the record advance vote tally includes about 223,000 people who voted on the final day of advance voting Wednesday, the last day of advance polls, shattering the one-day record set on Tuesday by more than 40,000 votes.
The previous record for advance voting in a B.C. election was set in 2020 amid the COVID-19 pandemic, when about 670,000 people voted early, representing about 19 per cent of registered voters.
Some ridings have now seen turnout of more than 35 per cent, including in NDP Leader David Eby’s Vancouver-Point Grey riding where 36.5 per cent of all electors have voted.
There has also been big turnout in some Vancouver Island ridings, including Oak Bay-Gordon Head, where 39 per cent of electors have voted, and Victoria-Beacon Hill, where Green Party Leader Sonia Furstenau is running, with 37.2 per cent.
Advance voter turnout in Rustad’s riding of Nechako Lakes was 30.5 per cent.
Total turnout in 2020 was 54 per cent, down from about 61 per cent in 2017.
Stewart Prest, a political science lecturer at the University of British Columbia, said many factors are at play in the advance voter turnout.
“If you have an early option, if you have an option where there are fewer crowds, fewer lineups that you have to deal with, then that’s going to be a much more desirable option,” said Prest.
“So, having the possibility of voting across multiple advanced voting days is something that more people are looking to as a way to avoid last-minute lineups or heavy weather.”
Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.
Environment Canada said the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.
Eby said the forecast of an atmospheric weather storm on election day will become a “ballot question” for some voters who are concerned about the approaches the parties have towards addressing climate change.
But he said he is confident people will not let the storm deter them from voting.
“I know British Columbians are tough and they’re not going to let even an atmospheric river stop them from voting,” said Eby.
In northern B.C., heavy snow is in the forecast starting Friday and through to Saturday for areas along the Yukon boundary.
Elections BC said it will focus on ensuring it is prepared for bad weather, said Andrew Watson, senior director of communications.
“We’ve also been working with BC Hydro to make sure that they’re aware of all of our voting place locations so that they can respond quickly if there are any power outages,” he said.
Elections BC also has paper backups for all of its systems in case there is a power outage, forcing them to go through manual procedures, Watson said.
Prest said the dramatic downfall of the Official Opposition BC United Party just before the start of the campaign and voter frustration could also be contributing to the record size of the advance vote.
It’s too early to say if the province is experiencing a “renewed enthusiasm for voting,” he said.
“As a political scientist, I think it would be a good thing to see, but I’m not ready to conclude that’s what we are seeing just yet,” he said, adding, “this is one of the storylines to watch come Saturday.”
Overall turnout in B.C. elections has generally been dwindling compared with the 71.5 per cent turnout for the 1996 vote.
Adam Olsen, Green Party campaign chair, said the advance voting turnout indicates people are much more engaged in the campaign than they were in the weeks leading up to the start of the campaign in September.
“All we know so far is that people are excited to go out and vote early,” he said. “The real question will be does that voter turnout stay up throughout election night?”
This report by The Canadian Press was first published Oct. 17, 2024.
Note to readers: This is a corrected story. An earlier version said more than 180,000 voters cast their votes on Wednesday.
