the CanadaVisa Team - 23 July, 2015
Typically, Canada’s western provinces of Alberta and British Columbia have been considered the country’s power-houses behind national economic growth. Recently, however, the Prairie Provinces have become a new area of focus, boosted by increased demand for their natural resources.
“While the ‘West is the best’ still holds true, attention this year has shifted away from Alberta to Saskatchewan and Manitoba, as high prices for nearly all of their natural resources will make them the two fastest-growing economies in Canada,” states the Conference Board of Canada’s economic outlook for 2008.
Saskatchewan ’s robust growth is explained by high commodity prices and strong global demand for its agricultural and energy products. The dramatic rise in the price of oil has driven the sale of oil and gas rights in Saskatchewan to record levels.
The Conference Board expects that Saskatchewan’s gross domestic product will rise by a nation-leading 4.2 per cent in 2008, well-ahead of the 1.7 per cent that is predicted for Canada as a whole.
Manitoba ’s economy is also expected to grow at a steady rate of 3.6 per cent this year, thanks to “a diversified manufacturing sector, large multi-year capital investment projects, an effervescent housing market, and strong commodity prices,” states the Conference Board’s report.
Growing economies have increased the demand for skilled workers. Both provinces have seen rising immigration numbers in recent years, largely due to their successful Provincial Nomination Programs.
