Emirates can work for the young, the single and the desperate. However, it is very difficult to save money in Dubai on an FO salary and you are now stuck with company accommodation so you can't top up your salary from the living out allowance. You will save a lot less in the first 5-7 years than you imagine and it is worth bearing in mind that up to 7 years the company takes back what it has paid into your retirement fund.
If you are planning on going back to Canada after that time I would say you are better off staying put and building some seniority at a Canadian airline, especially one of the majors. It is a lot of seniority to give up. There certainly don't appear to be many Canadian pilots joining now compared to 15 years ago. I'm not Canadian by the way, but the same thoughts would apply to anybody coming from Europe, Australia or America.