To subscribe or advertise in Business in Vancouver call 604-688-2398
|
To subscribe or advertise in Business in Vancouver call 604-688-2398 |
|
|
|
 |
|
LOG IN Subscribers can log in for enhanced content
The Vancouver Board of Trade Members' Business Directory BUSINESS NEWS BIV EVENTS OTHER EVENTS LEADS/RESOURCES OTHER PUBLICATIONS READER SERVICES ADVERTISE CAREERS ph: 604-688-2398 fx: 604-688-6058 |
BCAdvantage 2008; Business and investment across British Columbia British Columbia Agents of change With jobless rates at their lowest in a decade, and prosperity as obvious at the cranes dotting B.C.’s skyline, the province’s population is rising fast Unemployment in British Columbia averaged 4.2% during 2007 – its lowest level in a decade – as the Lower Mainland and Interior regions enjoyed the fruit of sustained economic growth. You hardly need to be a forensic expert to find evidence of economic growth. Retail sales during 2006 and the first three quarters of 2007 indicate that consumer confidence is high. Money is being spent upgrading homes and lifestyles. Property is also hot: the number of residential building permits granted during 2007 stood at more than 8,600 – a rise of about a thousand on the previous year, and about triple the volume witnessed in 2001. Non-residential building growth also remains strong; more than 3,900 permits were issued in 2007, comparable to the boom year of 2006, and higher than anything seen in the past eight years. The number of cranes visible on downtown Vancouver’s skyline simply reinforce the story: prosperity is being sustained, with more construction projects in the pipeline to meet demand generated by jobs and new arrivals in urban centres. The population of B.C. continues to swell, rising to more than 4.3 million in 2006. It is projected that, by 2031, there’ll be well over five million people who call B.C. home. It’s also an ageing population, due primarily to the historical decline in fertility rates. As baby boomers reach retirement age, the ageing of the population will accelerate. The median age of the province’s population has increased by seven years since the mid-’80s alone, noted BC Stats. With the number of births down, population growth is being driven to a greater extent by migration (see “Immigration,” page 28). It’s worth remembering that while the services sector – based on gross domestic product – is the largest component of the B.C. economy, resource industries contribute to at least one quarter of all jobs. Forestry accounts for almost half of all manufacturing production, and mining’s renaissance has greatly aided prosperity regionally and in downtown Vancouver, which is a major global mining centre (see “Mining,” page 10). • |
|
Comments about this site should be sent to: | |
