As Canada risks losing more immigrants amid a rising cost of living, a new report finds the biggest factors in whether newcomers stay aren’t just financial.

While housing and affordability remain top concerns, a new survey of nearly 5,000 immigrants finds newcomers are far more likely to stay in Canada if they feel hopeful about their future and connected to the country, according to a report from the Institute for Canadian Citizenship on Tuesday.

Optimism about the future – measured by immigrants’ confidence in their personal and family prospects, plans for long-term life in Canada and belief that friends and family can succeed here – is the strongest driver of immigrant retention, with just a one per cent increase in optimism boosting the likelihood of staying by 28 per cent.

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