Canada - The land of Economic Prosperity and Social Stability

The covid -19 has caused immense havoc to all industries and countries. The resulting lockdowns due to the pandemic have led to a very sharp surge in job losses across the world. Despite the post-pandemic hard-hit upon Canada, it is still considered as one of the most stable economies in the world. Canada’s political system with Parliamentary democracy, with its own social and political institutions, has led to a well-developed social safety net to protect citizens from financial inequities. Unlike other Commonwealth countries, Canada also has a healthy ratio of working-age people to retirement-age people which has made it a wealthy and prosperous nation. To further accelerate Canada's development, it has to have more working-age young workers as compared to senior citizens.

Since the population of retired individuals is rising much faster in Canada than its youth population. Immigration is the only solution to boom Canada's economy. On the other side of it, countries like India and China are struggling with the problem of too many young people and too few resources—exactly the opposite of Canada. This as a result has made Canada more aggressive to immigration, especially skilled immigration, for more than a decade now.

What makes Canada land of Opportunities? Let's see!!

Skilled Immigration Boosts the GDP Growth

Immigration is a key element of economic growth in Canada contributing billions of dollars to the gross domestic profit (GDP). Canada is the only developed country in the world that has publicly set a target of more than 1.2 million immigrants in the next three years which as a result can add close to $70 billion per year to Canada’s GDP before 2040 as per the statistics. The rapid increase of immigrants, especially international students to Canada has led to stimulating the economy by spending money on goods, housing, and transportation

Skilled Immigration—a Social Necessity

It's a common practice in every country to set up social programs for affordable education, healthcare, utility services, and other essential needs. Hence there has to be a steady growth in every country's tax base to fund these social programs aimed to support their less-privileged citizens. The only way the tax base grows in any country is by bringing in more skilled workers who will pay direct and indirect taxes on their incomes and also by attracting entrepreneurs who will set up businesses that will generate profits and jobs in the country. Skilled workers are important to ensure its social programs are well-funded and to ensure that every Canadian is provided with all necessities and rights.

Skilled Immigration create jobs and strengthen trade

Technology has caused the fast-changing world to be more dynamic and constantly evolving in order to remain a step ahead of the competition. Putting this in perspective even the Canadian workers have adapted to the necessary skills and training to sustain the ever-changing labor market trends. This as a result has made Canadian businesses find workers with the most relevant skills through skilled immigration. The Canadian business has maintained its competitive edge, through Ongoing training and reskilling programs which have helped to focus on the necessary skills to contribute to the business growth along with Immigrant-owned businesses which have improved trade ties to Canada.

We at EdFortune Immigration provide updates on immigration and much more to prospective immigrants and international students. Please contact us for more details.