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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”

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Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
PoliticsU.S. Presidential Election

Gen Z Americans rush to explore move to Canada since Trump’s election win, says immigration expert

Eleanor Pringle
By
Eleanor Pringle
Eleanor Pringle
Senior Reporter, Economics and Markets
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Eleanor Pringle
By
Eleanor Pringle
Eleanor Pringle
Senior Reporter, Economics and Markets
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November 8, 2024, 6:58 AM ET
President-elect Donald Trump
Canadian immigration experts have seen a 'huge spike' in inquiries since Tuesday afternoon.Michael M. Santiago - Getty Images
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Since Tuesday afternoon, phones at immigration consultancy Moving2Canada have been ringing nonstop. On the line: Americans seeking advice on their options after Donald Trump secured a second term in the White House.

The Republican candidate decisively won the 2024 Presidential Election, defeating Democratic nominee Kamala Harris.

Experts had been expecting a deluge of calls irrespective of which candidate won the White House, though under a Trump presidency, the need to leave America is more pressing.

That’s because the former president has outlined plans for “the largest domestic deportation operation in American history,” with shares in private prison companies rallying as investors expect to see mass deportation centers set up.

“Since Tuesday afternoon, we have experienced a huge spike in traffic from the U.S.A,” Rebecca Major, operations manager at Moving2Canada told Fortune. 

A large proportion of the inquiries are from Gen Zers aged 18 to 20, Major added, and a large portion of the new inquiries are also from people aged 60 or above—boomers—looking to retire outside the States.

“We did have a steady flow from 20 to 40 years olds also,” Major added, and a “high portion” of the inquiries from those residing in the U.S. are American nationals.

“Most of the traffic were interested in economic immigration programs suggesting they are working professionals,” Major continued.

Experts previously told Fortune that some families will be looking to leave before they are forced to do so, while others will be quitting Uncle Sam out of fear of policies and societal shifts in the future.

Previously, Antonio Zavarce of Shreveport, Louisiana, told Fortune he’d be leaving America for Italy with his husband, Taylor Stevens.

The couple said they wanted to move to find better healthcare, more safety and to escape homophobia.

Likewise Seattle-born Rachel Gallagher told Fortune she doesn’t plan to return home from the Spanish city of Seville, citing “basic human rights for women” among her reasons.

How to move to Canada

However, Canadian immigration specialists are warning that it’s becoming increasingly difficult for Americans to move north and are urging anyone interested to make themselves the best possible candidate for success.

“Each year, Canada announces new immigration levels plans,” Major explained. “This year, at the end of October, Canada announced a substantial decrease in their immigration targets and committed to transitioning more temporary residents in Canada.

“This means that Canada is now more challenging to immigrate to which has not been the case in previous U.S. election years.”

The plan laid out by Marc Miller, Canada’s minister of immigration, refugees and citizenship laid out on October 24 that the nation would be reducing its permanent resident targets from 500,000 to 395,000 in 2025, from 500,000 to 380,000 in 2026 and a target of 365,000 in 2027.

The country is also seeking to reduce its temporary residency volumes by 5% with controlled benchmarks and will instead focus on making skilled transitory residents permanent.

“The changes are designed with long-term economic goals in mind to make sure that we continue to attract the best and the brightest,” Miller said in his announcement.

In a post written for Moving2Canada, Major cautioned: “The reduction in immigration targets may lead Immigration, Refugees and Citizenship Canada (IRCC) to implement stricter selection criteria, prioritizing candidates with higher qualifications or specific skills that align with labour market needs, which could disadvantage some U.S. applicants.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Eleanor Pringle
By Eleanor PringleSenior Reporter, Economics and Markets
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Eleanor Pringle is an award-winning senior reporter at Fortune covering news, the economy, and personal finance. Eleanor previously worked as a business correspondent and news editor in regional news in the U.K. She completed her journalism training with the Press Association after earning a degree from the University of East Anglia.

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