A recent study conducted by Tony Fang, a Canadian professor at the University of York in Vancouver, found that Canada needs to increase the number of immigrants coming to Canada in order to encourage investment in housing and to help boost the nation’s economy.
Fang suggests that Canada needs an additional one million immigrants to better support the Canadian economy. Researchers in the study took into account a variety of factors, such as immigrants’ participation in the work force, immigrants’ spending on government services and infrastructure, and the amount of funds brought into Canada by immigrants.
Fang also noted that by bringing in more than 100,000 immigrants a year to Canada can help increase Canada’s GDP by 2.3 percent. Also, by increasing Canada’s population, a higher demand for goods and services, particularly housing, would result.
The study also concluded that higher levels of immigration could add $14 billion in tax revenue for the Canadian government.
Are you interested in immigrating to Canada? Find out if you qualify by taking our free immigration assessment.