How Immigration Has Helped the Canadian Economy?

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Signature VisasBest Immigration Consultants in
Delhi-NCR

• How Immigration Has Helped the Canadian Economy

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• A recent survey by The Economist Intelligence
  Unit (EIU) has revealed that Canadian cities like
  Vancouver, Toronto and Calgary are amongst the 5
  most liveable cities in the world. Apart from
  major benefits like access to safe and clean
  environment, top-notch healthcare facilities,
  renowned educational institutions, the country
  offers innumerable attractive career
  opportunities to its residents and immigrants.
  The countrys open arm policy to welcome the
  foreigners has charmed more immigrants around the
  globe to raise their standard of living by being
  a part of the country.

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• But if we look at the other side of the picture,
  the entire immigration process is also benefiting
  the country to expand its economy. There are
  several ways in which these immigrants are
  contributing directly or indirectly to the growth
  of the Canadian economy. Here we will try to
  understand how these immigrants have made Canada
  one of the most powerful countries in the world.

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• Highly efficient labor market
• As per the statistics, Canada is ranked amongst
  the top OECD countries. More than 50 of Canadian
  immigrants are highly educated and skilled in
  different professions. These people
  when immigrate to Canada integrate well into the
  Canadian labour force. This labour mobility from
  different parts of the world has enhanced the
  quality of Canadian labour workforce. The Global
  Competitiveness Report further declares that the
  World Economic Forum has ranked Canada as the
  worlds seventh most efficient labour market.

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• New Dimensions To Real Estate
• One of the most prominent benefits that Canada is
  getting from its immigration system is the
  expansion of the real estate industry. A strong
  influx of young immigrants into the country has
  boosted the housing industry as these people buy
  new houses to get settled in the country. This
  high inflow of immigrants has made the countrys
  housing market more resilient during recent years.

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• Strengthening the countrys federation by
  bringing in the young workforce
• The immigrants coming from the foreign countries
  have put a positive impact on the growth of the
  economy of Canada. In this country, the
  birth-rate of the native families is considerably
  lower than the required demographic rate. This
  means that there is a considerable gap between
  the ratio of people retiring from their services
  and new people taking up that position. The flow
  of highly skilled labour through the Express
  Entry System has bridged the demand-supply gap of
  young workforce required in the country.

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• Retaining foreign talent within the boundaries
• It is estimated that almost 100,000 foreign
  students visit Canada every year to get higher
  education from the world-class universities like
  McGill, University of Toronto, UBC, etc. Good
  working conditions and an attractive salary
  package attracts them to finally settle in the
  country. They expand their families in Canada.
  They are retained by creating better job
  opportunities and in turn, the country is
  benefited by the skills they have acquired here.

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• Higher earnings mean higher revenue for the
  government
• It is estimated that almost 100,000 foreign
  students visit Canada every year to get higher
  education from the world-class universities like
  McGill, University of Toronto, UBC, etc. Good
  working conditions and an attractive salary
  package attracts them to finally settle in the
  country. They expand their families in Canada.
  They are retained by creating better job
  opportunities and in turn, the country is
  benefited by the skills they have acquired here.

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• To conclude, we can say that the immigration
  process in Canada is playing a vital role in
  strengthening the countrys economic system.
  Also, as per a three-year immigration plan
  announced in 2017, Canada will open its doors to
  a steadily increasing number of immigrants in the
  next three years as the country faces a growing
  population of retirees. The influx of immigrants
  is expected to reach 350,000 by 2021.

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