Canada is one of the countries that has shown great development strides within a short span of time. Right from industries to top ranking universities, Canada has everything at the highest standards that an individual would seek in order to lead a better standard of living. In fact, it would be perfectly appropriate to mention here that Canada’s economy is the 10th largest economy in the world and is surging in the right direction every passing day.
The economic growth of a country is tightly bound to several factors which helps in the positive outcome and favored growth results. Likewise, the Canadian economic growth depends on a number of factors and one important factor that plays a predominant role is “Immigration” to which the Canadian government gives great importance.
Stats & reports say that an approximate of one in five people is an immigrant in Canada and they account to an approximate of 21.5% of the total Canadian population. The Canadian government is also taking every possible measure to welcome immigrants and has planned to increase immigration intake to almost one million within the next three years. The question as to “Why Canada is showing a keen interest on immigration?” has been much debated and searched and which is why we bring to you three solid reasons stating why Canada needs Immigrants!
Increasing Skilled Labour Shortages: –
A skilled workforce is something that could make or break the country’s economy. A country with the right amount of skilled labor will result in high economic growth eventually leading to a better standard of living for the country’s residents. As of 13th March 2018, there are an approximate of 400,000 jobs spread across Canada that needs to be filled in. With the labor shortage intensifying in every single Canadian province, the government has planned to increase the number of immigrants, who could contribute to the positive growth of the economy and meet the increasing labor shortages.
The Economic Growth & Immigration: –
The Canadian economy has witnessed a remarkable growth by 2.2 percent annually over the past five years. This positive economic growth will face a whiplash due to the aging Canadian population & low birth rate.
Without any new immigrant intake activities for the next two decades, this positive GDP growth percentage will gradually decrease to 1.3 percent annually. On the other hand, keeping the immigration intake in place for the next two decades will help the annual growth be at 1.9 percent accompanied with a strong economic growth.
The Aging Population Factor: –
Recent reports state that if the Canadian government shuts its doors towards immigrants and makes it an immigration free zone, the remaining Canadian population would age at an increasing pace. Consequently, by the year 2040, 26.9 percent of the Canadian population would be aged more than 65. This comes along with inevitable side effects. There would be a significant decrease in the Canadian workforce and in order to compensate for the shrinking labor force, the Canadian government will have to increase taxes to continue providing social services such as healthcare, maternity & parental benefits and more.,
By the year 2034, it is predicted that the number of death rates in Canada will exceed the number of births and immigration will then be playing a major role in keeping up the population & the labor force of the country. As for Canada, immigration is a key factor that helps drive the economy towards the positive direction and overcome the hurdles it is currently facing, and immigration will forever play a positive role in the growth of the Canadian economy. It is fortunate that the Canadian government has understood this and has planned to increase immigration intake for the upcoming years. If you are a potential candidate who has been looking forward to migrating to Canada, you can make use of the golden opportunity and find possible ways to migrate!
Contact our team of experts and check your eligibility to migrate to Canada for free!