News & Events

Service sector grows alongside Tri-Cities’ population boom

Amid ongoing housing unaffordability in Vancouver and its neighbouring cities, more people have looked east to the Tri-Cities area, and that influx of new residents has made the region more attractive for businesses.

The region—which includes the cities of Coquitlam, Port Coquitlam and Port Moody, and the villages of Anmore and Belcarra—has experienced dramatic growth in its population, which has more than doubled over the past 20 years to around 250,000 residents, according to Tri-Cities 2024 Economic Profile released by the Tri-Cities Chamber of Commerce on Feb. 20.

And the population continues to grow. By 2025, close to another 40,000 residents are expected to call the Tri-Cities home — a 58-per-cent increase. More than half are expected to move to Coquitlam, with the rest mostly moving to Port Coquitlam and Port Moody.

“We are in a period of unprecedented growth and the tremendous development happening in the Tri-Cities,” said Leslie Courchesne, CEO of the Tri-Cities Chamber of Commerce, adding that the geographical location makes the region a desirable place to live and do business for many British Columbians.