5 Ways How Immigration Has Helped the Canadian Economy
India, 5 December 2018 -- 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.
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. The country’s open arm policy to welcome the foreigners has charmed more immigrants around the globe in recent years.
The flip side of the picture is that 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 Canadian economy.
Highly efficient labour market- As per the statistics, Canada is ranked amongst the top OECD countries. More than 50% of the 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 work force.
New dimensions to real estate – One of the most prominent benefits that Canada is getting from its immigration system is the expansion of 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.
Strengthening the country’s federation by bringing in the young workforce- The birth-rate of the native families in Canada 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 younger generation 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 for the growth of the economy.
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 and use their skills to contribute to the development of the country in many ways.
Thus, on one hand Canada is offering better future for the immigrants and on the other hand they are contributing to the socio-economic growth of the nation.
Signature Visas offers the best and reliable Canada immigration consultancy services. They understand the policies to the core and help candidates build a profile that will best match the eligibility criteria. The experts at Signature Visas have helped thousands of immigrants to realize their dream of migrating to Canada.
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