As per the latest available data, Canada has welcomed just over 150,000 new permanent residents in the first quarter of 2023. This is a spike of nearly 40% compared to the first quarter of 2022, and it is the result of a very deliberate plan to welcome even more immigrants into the country over the next decade.
According to the federal government, Canada will be undertaking an aggressive plan to welcome as many as 465,000 new residents this year, with a further 485,000 in 2024 and 500,000 in 2025. If everything goes accordingly, this would mean that Canada would be welcoming just over 1.45 million immigrants over the next three years.
But why is this happening? In a 2022 study, it was revealed that Canada was the 8th wealthiest country in the world, with a USD of $6.2 trillion. Why then does one of the most advanced economies need to drastically upgrade their immigration system and welcome more new residents than ever before?
New Residents, New Work
The answer is actually very simple. Of all the immigrants coming into the country, all will be applying for the appropriate visas, with Express Entry pools that rank your skills, education, work experience, and language abilities through a CRS calculator. The immigrants being welcomed into the country, then, are skilled workers who can adequately add to the country’s growth.
Although Canada has one of the most advanced economies, it still falls behind other countries such as Luxembourg, Switzerland and Qatar on the standard marker of GDP per capita. To continue development and growth, Canada needs new inhabitants who can drive national spending while also contributing to a strong labour force to continue the production of goods and services.
Preparing For The Future
Canada also recognises that while the economy looks steady now, that doesn’t mean it will always be. Like several other Western nations, Canada’s fertility rate falls short of the global population replacement level – a steadily declining trend over the last 14 years. This means that it has an ageing population with a lower birth rate, which will inevitably lead to economic shrinkage over the next few decades.
To ensure that the economy continues to grow, more immigrants have to be welcomed into its borders. According to a recent study, immigration in Canada accounts for nearly 100% of the labour force growth, and in 2032, the federal government is aiming for it to account for nearly 100% of the country’s population growth too. Considering the population of Canada has surpassed 40 million due to immigration, it is likely that this statistic will be realised.c
Taking A New Approach
Canada has long been recognised as one of the friendliest multicultural countries. and these immigration strategies do not show anything different. But the reason this will work is because it is a focused strategy.
In many other countries, permanent residents are welcomed mostly due to family reunification, but in Canada, around 50% are welcomed based on their skills. In 2025, the government aims to push that number up by another 10%. Following this system will likely bear fruit for the Canadian economy, and for immigrants worldwide looking for a new place that will nurture their skills, it provides an opportunity for a new life in one of the world’s most beautiful countries.
