Last Updated on January 24, 2019
A new report confirms what many policymakers have been advocating for years – the more immigrants a province has, the more the economy is able to grow.
The report, titled The Influence of Immigrants on Trade Diversification in Saskatchewan, was released this month by the Conference Board of Canada. It looked specifically at the correlations between immigrant levels and trade, finding that for every one percent increase in immigration levels there is a $30 million increase in imports and $41 million increase in exports.
“This research demonstrates that increasing ethnic diversity through immigration can promote trade diversification,” said Conference Board researcher Michelle Parkouda. “As Saskatchewan continues to welcome increasing numbers of immigrants from around the world, this will have the potential to stimulate additional opportunities for trade outside of North America.”
Parkouda says that the increase in trade is independent of other factors, such as wealth, distance or language. It appears that newcomers bring with them strong ties to their home country that can truly benefit the economy of their destination.
In recent years Saskatchewan has undergone a vast transformation with a booming economy resulting in record immigration levels. In 2011 the province welcomed approximately 9,000 new immigrants.
China has become one of the province’s strongest trading partners and will be the subject of the upcoming Saskatchewan Forum where investment and trade issues can be discussed in detail.
Source: Saskatoon Star-Phoenix