No, Canada has a higher GDP per capita and a higher Human Development Index (HDI) than Spain.
If you want a thorough response, read below
Although Spain is one of the largest economies in Europe, Canada is actually wealthier than Spain in terms of GDP per capita and HDI. According to the World Bank, Canada’s GDP per capita was $46,194 in 2019, while Spain’s was $30,783. Canada’s HDI was ranked 16th in the world in 2020, compared to Spain’s ranking of 29th.
As the Canadian government website notes, Canada is “a large, wealthy, sparsely populated country with well-developed mining, manufacturing, and service sectors.” In contrast, Spain has struggled with high unemployment and debt in recent years.
Notably, Canada also ranks highly in terms of social and political stability, with Forbes ranking it the 2nd “Best Country for Business” in 2019. Spain, on the other hand, has faced political instability and separatist movements in regions such as Catalonia.
In terms of population, Canada has a population of approximately 38 million people, while Spain has a population of around 47 million. Despite this difference, Canada’s economy remains strong and competitive on the global stage.
As famous economist John Maynard Keynes once said, “The difficulty lies not so much in developing new ideas as in escaping from old ones.” While Spain and Canada may have different economic strengths and challenges, it is important for both countries to continue striving for growth and innovation in a constantly evolving global economy.
Here is a table summarizing some key economic indicators for Canada and Spain:
| Indicator | Canada | Spain |
|---|---|---|
| GDP per capita (2019) | $46,194 | $30,783 |
| HDI (2020) | 0.929 (16th) | 0.904 (29th) |
| Population (2021) | 38 million | 47 million |
I found further information on the Internet
Spain has a GDP per capita of $36,200 as of 2020, while in Canada, the GDP per capita is $45,900 as of 2020.
See a video about the subject.
The video discusses several reasons why Spain is richer than America, including the lack of visible homeless people on the streets, free and accessible education, and free healthcare to all citizens. Spain’s emphasis on values, lifestyle, and health habits, as seen in its promotion of the Mediterranean diet, also contributes to its citizens’ better health. Additionally, Spanish urban layouts promote walking and biking, contributing to healthier lifestyles. The speaker concludes by stating that wealth will be measured by human values and our ability to care for one another.
More intriguing questions on the topic
Regarding this, What is better Spain or Canada?
Answer will be: Quality of Life Index
As we can see, the overall quality of life in both countries is quite high and similar in terms of scores. However, Spain offers much better climatic conditions, and Canada overtakes it in purchasing power.
Keeping this in consideration, How is the economy of Spain compared to Canada?
Answer to this: Comparison In 2020, Canada ranked 29 in the Economic Complexity Index (ECI 0.93), and 12 in total exports ($371B). That same year, Spain ranked 34 in the Economic Complexity Index (ECI 0.76), and 17 in total exports ($298B).
Is Spain expensive to live in compared to Canada? Cost of living in Spain vs Canada
On average, the cost of living in Spain is 59% cheaper than in Canada. Although gym memberships and utility bills can be slightly more expensive in Spain, you’ll find the biggest differences in cost in rent, groceries, alcoholic drinks, and daycare.
In this manner, Who is richer Spain or Germany?
Response will be: The facts are that Germany is significantly richer than southern Eurozone countries like Spain, Greece and Portugal.
Is Canada better than Spain?
As a response to this: However, Canada is more suitable for ambitious young people who are ready to immerse themselves in a multicultural environment, while Spain is a paradise for the older generation who choose a leisurely pace of life and a healthy warm climate. But the choice is entirely up to you! Read our article How to Move to Spain From Canada Like this article?
Is Canada richer than China? Canada has a GDP per capita of $48,400 as of 2017, while in China, the GDP per capita is $18,200 as of 2018. Is Canada richer than Germany? 4) Germany is a richer country, ranking at number three worldwide by way of exports that gross $1.46 trillion annually while Canada is 12th in the world with gross exports standing at $462.90 billion.
What is the richest country in the world? While both countries are in the list of top ten economies in the world in 2018, the US is the largest economy in the world, with US$20.4 trillion, with Canada ranking tenth at US$1.8 trillion. What is the richest country in the world 2020? How rich is Canada compared to other countries? Is China richer than Canada?
Also asked, Is Germany richer than Canada?
4) Germany is a richer country, ranking at number three worldwide by way of exports that gross $1.46 trillion annually while Canada is 12th in the world with gross exports standing at $462.90 billion. 5) Gross national income at $1.92 trillion is higher in Germany as compared to $684 billion in Canada.
Also asked, Is Canada better than Spain? As a response to this: However, Canada is more suitable for ambitious young people who are ready to immerse themselves in a multicultural environment, while Spain is a paradise for the older generation who choose a leisurely pace of life and a healthy warm climate. But the choice is entirely up to you! Read our article How to Move to Spain From Canada Like this article?
Then, Why is Spain not a rich country?
The reply will be: Spain is not a rich country because its situation is nothing differ from India. They also import more than export like India . Only lesser population than India makes them better than India in terms of PPI (Payment protection insurance) which is $39,944 and India has $8000 only.
Herein, Is Canada richer than China?
As an answer to this: Canada has a GDP per capita of $48,400 as of 2017, while in China, the GDP per capita is $18,200 as of 2018. Is Canada richer than Germany? 4) Germany is a richer country, ranking at number three worldwide by way of exports that gross $1.46 trillion annually while Canada is 12th in the world with gross exports standing at $462.90 billion.
Likewise, How much wealth does Canada have?
Canada, on the other hand, comes in at number six, with an average wealth of $106,342 per adult. Economists often point out the simple truth that having wealth makes it easier to get more wealth, which means those who have a lot of money pass on an advantage from one generation to the next .