Canada's Major Cities Maintain Economic Stability Amidst Global Turbulence
- Sarah Drolet
- May 10, 2023
- 2 min read
Toronto, ON- May 10, 2023-
Today, the Consider Canada City Alliance (CCCA), released its impact numbers for 2022, revealing that Canada’s major cities showed resilience in the face of a challenging global economic environment. In 2022, the 14 member cities of the CCCA played a crucial role in promoting global investment to create local jobs across Canada. Our data shows that CCCA members facilitated the creation of almost 22,000 new jobs, leading to economic growth in Canadian communities. The future of key industries also relies heavily on the presence of a diverse and highly skilled talent pool to drive innovation forward.
The total investment value created by these investments reached $7.6 billion, distributed over a total of 258 deals which were closed in 2022 - a steady inflow of projects which shows that Canada maintains its reputation as a safe location for international investment and a country of great investor confidence. According to Kearney’s 2022 FDI Confidence Index, in a global context of high uncertainty, investors remain optimistic about their ability to thrive within the Canadian market over the medium to long time.
The Executive Director of the CCCA, Niloo Boroun, stated, “We are dedicated to supporting our members in navigating global uncertainties and collaborating with our federal partners to promote Canada internationally and facilitate global investment. These results demonstrate progress towards recovery, and we anticipate even greater gains over the next few years as FDI projects reach further maturity.” Ms. Boroun also emphasized the resilience of Canadian cities and their ability to withstand the pressures of the global economic landscape by continuously attracting global companies in various innovative industries, including manufacturing, critical minerals, and life sciences.
The FDI results of the CCCA members are a testament to the unwavering support and collaborative effort of local municipal and provincial governments, as well as federal partners at Global Affairs Canada and Invest in Canada, working closely with the CCCA. FDI is an essential driver of Canada's prosperous and sustainable economy, with the potential to generate further positive developments and meaningful impacts in our communities.
Consider Canada City Alliance is composed of 14 city members that help global companies determine the best strategies for business expansion and continually improve Canada’s ability to attract new investment and trade opportunities. Our members from Surrey, Vancouver, Edmonton, Calgary, Winnipeg, Hamilton, London, Waterloo, Niagara, Toronto Region, Ottawa, Montréal, Québec City, and Halifax represent the diversity as well as the wealth in resources & expertise of Canada from coast to coast.
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Canada’s major cities—Toronto, Vancouver, and Montreal—maintain economic stability despite global turbulence. Strong banking systems, diverse industries, and resilient job markets support steady growth. Government policies, resource exports, and innovation hubs bolster confidence. While challenges persist, Canada’s urban centers adapt, ensuring continued economic strength amid shifting global conditions. Visit us: mcdo breakfast meal
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It's impressive to see Canada's major cities demonstrating such resilience amid global economic challenges. Facilitating the creation of nearly 22,000 new jobs and attracting $7.6 billion in investments across 258 deals in 2022 is a testament to the collaborative efforts of the Consider Canada City Alliance (CCCA) and its partners. This achievement not only underscores Canada's reputation as a stable destination for international investment but also highlights the strength of its diverse and skilled talent pool driving innovation in key industries. Kudos to the CCCA and all involved in fostering economic growth and stability in these turbulent times.
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It's great to see Canada's cities thriving amidst global economic challenges, thanks to collaborative efforts like those of the Consider Canada City Alliance. This resilience not only showcases Canada's ability to attract global investment but also highlights its diverse talent pool and innovative industries. By the way, if you're ever exploring great food spots in Canada, Cookout Restaurant has an impressive menu lineup worth checking out. You can see all their offerings here: https://cooksoutmenu.com.