By CIC News |
Increased levels of immigration, and immigrant employment outcomes could add $37.9 billion in GDP to the Ottawa-Gatineau region.
Immigration is vital to the economic growth of the Ottawa-Gatineau region, according to a new report.
The Conference Board of Canada looked at the demographic and economic impacts of immigration over the last decade. Their new study is called Four Futures: The Economic Impact of Immigration in the Ottawa-Gatineau Region. The Conference Board also forecasted the growth in the region between 2019 and 2036, using four analytical scenarios to explore the links between immigration, employment and growth in the region.
The first scenario imagines that at the pre-pandemic immigrant arrival trends in Ottawa-Gatineau stay the same until 2036. Annual real GDP growth would average 1.9 per cent, and total GDP would increase by $34 billion.
They then created a fictional no-immigration scenario to illustrate what would happen if no new immigrants moved to the area. Annual real GDP growth would average 1.7 per cent, and real GDP would be $28.5 billion, which is a reduction of $5.5 billion.