express entry system

High immigration levels could add billions to Ottawa-Gatineau GDP: Report

Immigration

Immigration plays a vital role in the economic growth of Ottawa-Gatineau. Through the Canadian Express Entry System, you can apply for immigration to Ottawa-Gatineau. According to a report, high immigration levels will add around $37.9 billion in GDP.

The Conference Board of Canada has seen the demographic and economic impacts of immigration over the last decade. They have shared a new study, “Four Futures: The Economic Impact of Immigration on Ottawa-Gatineau Region. Using these four scenarios to explore the links between immigration, growth, and employment in the region. The Conference Board also forecasted the growth between 2019 and 2036.

The First Scenario

The first scenario visualizes that the pre-pandemic immigrant arrival trends in the region stay the same until 2036. However, with this trend, annual real GDP growth is expected to grow by an average of 1.9%. The total GDP will increase by $34 billion.

The Second Scenario

They also created a fictional no-immigration scenario to show what will happen if no new immigrants move to the area. In such a case, annual real GDP growth will grow by 1.7% and real GDP will be $28.5 billion, causing a reduction of $5.5 billion.

The Third Scenario

In the third scenario, the researchers predicted a higher immigration level where the region will increase the number of immigrants from 11,005 newcomers in 2018 to 19,500 in 2036. In such a case, the annual GDP growth rate will be 2.1%, and the total GDP growth would be $37 billion.

The fourth Scenario

In this scenario, the GDP increase came out to almost $900 million higher when researchers suggested improved employment and wages for immigrants in the fourth scenario. However, with a combination of increased immigration and improved outcomes of the labor market, the National Capital Region will see a total GDP of $37.9 billion.

Pedro Antunes, Chief Economist at the Board, stated in a media release: “Immigration will continue to be an important driver of Canada’s social and economic well-being, specifically as we recover from the COVID-19 pandemic”.

This is true for the national economy and at a local level, like the Ottawa-Gatineau region. Immigration through Express Entry System will help to underpin the future growth and economic competitiveness of the area.

The Conference Board Suggestions

The board suggests that immigration is an ideal solution for Canada’s challenges with a declining workforce. A large number of people are leaving the workforce due to their age. Simultaneously, fewer young people are joining the workforce. These factors are looming to limit the economic growth and straining social supports and health care in the Ottawa-Gatineau region.

Before the COVID-19 pandemic, the area attracted almost 3% of all immigrants to Canada every year. According to the study, a large number of immigrations are necessary to sustain the economic productivity of the region. However, this will be more relevant for post-COVID-19 economic recovery.

“The findings from the report point to Ottawa and Gatineau stakeholders’ dire importance to openly plan for the level of immigrant attraction that will sustain economic growth and social development. The analysis is compelling, and they clarify the connections between employment, immigration, and the overall economic growth of the city,” Hindia Mohamoud, Director of Ottawa Local Immigration Partnership, said in the release.

This study was commissioned by the joint coordination of Ottawa Employment Hub and OLIP. However, it received funding from the Immigration, Refugees and Citizenship Canada and Ministry of Labor, Training and Skills Development Ontario.

Apply for Canada Express Entry Program

Canada has opened doors for immigrants from all over the world. However, if you are willing to apply for the Express Entry Program to get Canadian Immigration, you can start with our free online assessment test. Our consultants will shortly contact with the suitable methods and required details to process your application.

Read More: Tips To Get Canadian Visa

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