New Study Says that Canada’s Key to Economic Growth is Immigration
Canada no wonder is one of the developed countries and a country that is still on the development pathway with developments happening in every sector. And studies say that the reason behind all these developments is immigration.
A recent study states that by the year 2040 one out of four people will be aged 65 plus and with the country continuing to face a low birth rate, immigration happens to one key reason which would help the country maintain its social infrastructure and healthy growth!
It should be noted that the retirement rate of Canada has already gone up and by the year 2030 most of the Canadian workforce will be retired already, bringing in great economic pressure. On the other hand, between the years 2018 and 2040, an approximate of 11.8 million Canadians will graduate and start working. But that’s not enough and the asking rate is more.
People who have aged above 65 are expected to represent an approximate of 25 per cent of the total Canadian population which is a rise of 17 per cent from today. This issue has been well understood by the Canadian Government and has been taking continuous measures to overcome them.
The increase of Canadian Immigration targets and the new multi-year immigration plans for the next three years is seen as a positive approach by the Canadian Government towards this issue. If the Canadian Government could gradually raise its immigration rate to 1 per cent of its entire population by 2030, there would be some 5.3 million increased labour force and would account for up to one – third of the economic growth between the years 2018 and 2040.
The current scenario could be an ideal time for immigrants who are aspiring to migrate to Canada. If you are looking forward to migrating to Canada, get in touch with our experts and check your eligibility to immigrate for free!