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Immigration’s importance to economic recovery in Canada in the aftermath of the COVID-19 pandemic was clearly evident in Ottawa’s 2021‒2023 Immigration Levels Plan unveiled late last year. “Immigration is essential to getting us through the pandemic, but also to our short-term economic recovery and our long-term economic growth,” said Immigration Minister Marco Mendicino. “Canadians have
Prince Edward Island’s economy is expected to fully recover this year after the travel restrictions and drop in immigration levels caused by the COVID-19 pandemic last year. In their economic forecast, 2021 Promises Better Days from Coast to Coast, Royal Bank of Canada economists Robert Hogue, a member of RBC Economics’ Macroeconomic and Regional Analysis
Population growth fuelled primarily by immigration is expected to help Nova Scotia’s economy recover this year after being hit hard by last year’s double whammy of Northern Pulp’s closure and the downturn in retail and tourism due to COVID-19. “Nova Scotia’s recovery should be helped by improved population growth, which in turn will benefit from
Immigration to Newfoundland & Labrador will be especially important as it struggles to recover post-COVID-19 due to the Atlantic Canadian province’s shrinking population. In its provincial economic outlook, the Royal Bank of Canada notes growth in the Newfoundland & Labrador economy this year will trail that of other Canadian provinces despite the easing of public
Job-seeking and entrepreneurial immigrants may well be setting their sights on Manitoba this year as its economy is forecast to almost completely offset the losses it suffered last year due to COVID-19 restrictions. “We forecast the economy to grow by a solid 4.4 per cent in 2021,” predicts Royal Bank of Canada (RBC) economist Carrie
New Brunswick’s hospitality and tourism sector is expected to gain some momentum with the return of the Atlantic Bubble in late April as Canada’s COVID-19 vaccination programs promise a return of higher immigration levels. In its economic forecast for the maritime province, TD Economics noted the devastating impact of the loss of the Atlantic Bubble,
The global pandemic hit Alberta with higher daily numbers of new COVID-19 cases than anywhere else in Canada last year, forcing lockdowns and border restrictions that crippled its economy and restricted immigration. Alberta lost an estimated 7.3 per cent of its real Gross Domestic Product (GDP) and experienced a 47.5 per cent downturn in the
British Columbia’s exports are expected to fuel the westernmost Canadian province’s economic recovery this year even as immigration remains sluggish and the region’s tourism industry struggles due to still-high COVID-19 case numbers. “In the long-run, Canada does have the capacity to hit the ambitious targets set out last fall and population growth from new immigration
The global COVID-19 pandemic and the closure of Canada’s borders to almost all non-essential travel cut immigration to Quebec by more than a third last year and took a serious toll on its economy. Economic activity in Canada’s francophone province dropped sharply during the pandemic, driving its real GDP down by 5.2 per cent and
Although Ontario is already the most populated province in Canada, it will need a lot more people in its northern regions over the next two decades just to maintain a healthy workforce, concludes a report funded by the federal government. “If we wished to maintain our historical, healthy, ratio of dependents to workers, Ontario’s northern
