Canada's Economic Stability: A Strong Foundation for Newcomers

Canada’s highly developed and diversified economy provides ample opportunities for building a successful career in various industries. Whether you want to work in tech or finance, Canada's vibrant job market can help you achieve your career goals.

Therefore, take the first step towards your future, and let us guide you in making Canada your new home.

Canada's Thriving Economy: Opportunities for Immigrants

Canada boasts a highly developed economy, ranked ninth-largest globally, with an annual gross domestic product of $1.64 trillion US Dollars.

Its economic growth and success are primarily attributed to its strong international trade relations, with exports and imports of goods and services, each comprising about one-third of Canada’s GDP.

The country has thus become a popular destination for immigrants seeking to build their careers and secure their futures. This page provides an overview of Canada's strong economic foundation, highlighting its key strengths and advantages.

How Does Canada's Stable Economy Benefit Newcomers?

Canada's government aims to welcome 465,000 permanent residents in 2023, 485,000 in 2024, and 500,000 in 2025.

Image source: https://thebusinesscouncil.ca/report/canadas-immig...

Addressing Labor Shortage Through the Immigration System

Canadian employers are expected to increase their usage of the immigration system for recruitment. Here are the stats that support this claim

• 63% of current users expect more usage in the next three years.

• Nearly all of these employers expect to increase usage by up to 25%.

• The primary driver of this trend is anticipated labor shortages.

Canada’s Economic Stability will Help Newcomers in the Following Ways

1. Newcomers will be attracted to small towns and rural communities.

2. Over 60% of admissions will be in the economic class, with a focus on sectors facing labor shortages.

3. Provincial Nominee Program, Atlantic Immigration Program, and Rural and Northern Immigration Pilot will address local labor market needs.

4. Faster family reunification and support for Francophone immigrants.

5. The Economic Mobility Pathways Pilot will expand to provide a safe haven for those facing persecution.

6. The country's stable economy provides a good quality of life for newcomers, with access to basic amenities such as healthcare, housing, and education.

7. Provides opportunities for newcomers to improve their economic status and achieve financial stability.

Average Annual Salary of Top Industries in Canada

What are the 3 Main Industries in Canada?

The Canadian economy is highly diversified, with various industries contributing to the country's GDP. However, some of the main industries that have played a significant role in Canada's economy over the years include:

1. Real Estate, Rental, and Leasing

These industries in Canada encompass activities such as real estate management, buying, selling, or renting properties, appraising real estate, renting tangible assets like vehicles, and leasing nonfinancial intangible assets.

This industry employs around 250,000 people and has experienced a 3.7% increase in Canada’s GDP, according to the Government of Canada.

Some of the major companies in this sector are:

1. Canadian Apartment Properties REIT (CAR.UN)

2. RioCan REIT (REI.UN)

3. Allied Properties REIT (AP.UN)

2. Manufacturing

The manufacturing industry in Canada involves transforming materials or substances into new products, which could be finished goods for direct consumption or semi-finished goods for use in further manufacturing processes.

This sector encompasses the production of food, chemicals, petroleum, machinery, transportation equipment, fabricated metal products, and other items.

The industry employs around 1.5 million people and experienced an 8.1% growth in Canada’s GDP, according to the Government of Canada.

Some of the major companies in this sector are:

1. Ballard Power Systems Inc. (BLDP.TO, BLDP)

2. Hydrogen fuel cell manufacturer, NFI Group Inc. (NFI.TO)

3. A producer of heavy-duty transit buses, and ATS Automation Tooling Systems (ATA.TO), which custom engineers and manufactures industrial automated manufacturing systems.

3. Mining, Quarrying, and Oil and Gas Extraction

Canada's mining, quarrying, and oil and gas extraction industry involves extracting naturally occurring minerals, with a dominant focus on oil and gas extraction.

This sector includes activities such as mining coal, metals like gold, silver, copper, and nickel, as well as stone, sand, gravel, clay, and ceramic mining and quarrying.

Potash mining is also a part of this sector. The industry employs around 190,000 people and provides a boost of 15.1% to Canada’s GDP growth per year as per the Government of Canada.

Some of the major companies in this sector are:

1 Barrick Gold Corp. (ABX.TO, GOLD), a gold mining firm

2. Nutrien Ltd. (NTR.TO, NTR), which produces and distributes potash, nitrogen, and phosphate products

3. Teck Resources Ltd. (TECK.B.TO, TECK), is a natural resource company that mines for zinc, copper, molybdenum, gold, and metallurgical coal.

Secure Your Future in Canada: A Land of Economic Opportunity

Canada's economic stability provides a solid foundation for newcomers to build a successful future. The government's push for immigration offers ample opportunities for those seeking to live and work in Canada.

However, the Canadian immigration process can be overwhelming with the numerous formalities involved. This is where an immigration consultant like GetGIS can be your best bet in ensuring a successful transition to life in Canada.

Thinking of Moving Abroad? Here's How We Can Help

• Point calculation: In GetGIS, we calculate your points on your behalf to eliminate any chances of rejection or failure.
• Visa application: GetGIS helps you to complete your visa application properly and we even train you for your visa interview process, to make your immigration journey easier.
• Preparation for Language Test: GetGIS offers you expert guidance for your preparation for language tests like IELTS/PTE/CELPIP.
• Expert guidance for each step of your immigration: With GetGIS, you rest assured about your immigration journey. We help you to take every step in the right direction to make your immigration journey smooth.
• Job Search assistance: At GetGIS you receive complete job search assistance, from CV optimization, to mock interviews everything is covered by GetGIS. And we won’t leave you alone until you get your job in your dream country.

So, don’t waste your time thinking about the best time to visit Canada. Start your career in Canada with GetGIS by Booking a Free Consultation Today!

Useful Links: Further Reading & Information

• Top 13 High Paying Jobs in Canada For immigrants in 2022
• How To Get Software Job in Canada From India
• How To Get a Job in Canada For New immigrants