Immigration is important to Canada’s economy! Here’s why:
The 2018 Annual Report to Parliament on Immigration has recently provided new data and a key analysis on the major contributions of immigration to the Canadian economy and labour market. These contributions to Canada and its growing success will, in part, come from a continued effort to ensure that immigrants and their descendants are welcomed and well-integrated.
With an ageing population and low fertility rates, immigration plays an important role in ensuring that Canada’s population and labour force continue to grow. Immigrant newcomers are, on average, younger than Canadian-born residents. This younger demographic can help mitigate some of the challenges of an ageing population.
Additionally, immigrants coming to Canada become part of its consumer market and pay taxes. This means that they contribute to the economy and increase the productive capacity of the region. Data from the annual report shows that Canada’s economy has benefitted from consistent gains in the size of the labour pool, largely due to immigration. The report also reveals that over the past twenty years, gross domestic product (GDP) per capita, productivity, and the labour force have all increased by around 1.25% per year.
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