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Why we are Canada's Best Place to Live (in Outlook 2010 in the Times Colonist)

October 17, 2009

If you have been a casual observer of global markets over the past year you would not be alone in viewing the world’s economy as more of a roller coaster than an economic and financial system.  While Greater Victoria and BC are better positioned to weather the difficulties of today's changing economy than other parts of the world, we have not been immune from the impact of these demanding times.

So what has saved us from the far worse fate that other jurisdictions have experienced?

In a word, diversification.  By not having “all our eggs in one basket” and being home to industries that compliment and balance each other, Greater Victoria enjoys a more stable and predictable economic environment that almost any other jurisdiction in North America.  This has been recognized by a number of outside sources.  The region was named the best place to live by Moneysense magazine, and more recently named the #1 “Micro City of the Future” in Canada (#3 in North America) by the Financial Times of London, and the top “Next Gen” region in Canada for young professionals.

Far from being the home of “newlyweds and nearly deads”, the region boasts economic numbers that beat many of the “western tiger” jurisdictions such as Calgary, Edmonton and Vancouver.  The region’s technology sector weighs in at over $1.7 billion dollars annually and employs over 12,000 people, while our hallmark industry, tourism, comes in at over $1 billion and brings over 3 million visitors to the region each year.  Major economic drivers in their own right, our region’s academic institutions bring over 40,000 bright minds to the region, helping drive research and innovation and contributing to our region’s dynamic workforce where fully 68% of people have a post secondary education.  All of these resources will be needed to support the region’s growing ocean and marine sector, which is estimated to contribute over $1 billion per year for the next decade. 

This and more is possible, but wishing won’t make it so.  In order to maintain our region as a world class destination for investment, household sustaining jobs and to take advantage of new opportunities, we must continue building on our strengths.  It is through continual attention to opportunities and growing our markets that our outlook for 2010 and beyond remains bright. 

Sasha Angus, Economic Development Officer with the Greater Victoria Development Agency


 

 





Articles - 2010

Borrowing for the Bridge Our Best Option (in September Business Examiner) (August 30, 2010)
ADS is Positive for BC Tourism (in Business Vancouver Island) (August 11, 2010)
Regional Issues Require Regional Decision Making (in Business Examiner) (July 28, 2010)
Task Force Only a First Step (in Business Vancouver Island) (July 07, 2010)
Paying for the Bridge (in Business Examiner) (June 30, 2010)
Shoulder to Shoulder with Tourism (in Business Vancouver Island) (June 17, 2010)
What is the Cost of Not Building the Marina? (in Business Examiner) (June 01, 2010)
Business Vote is Complicated (in Business Vancouver Island) (May 17, 2010)
Keep an Eye on Tax Spending (in Business Vancouver Island) (April 08, 2010)
Calling for Police Amalgamation (in Business Examiner) (March 24, 2010)
Health, Police Connected (in Business Vancouver Island) (March 11, 2010)
Tourism Benefits of the Games Needing Our Support (in Business Examiner) (March 01, 2010)
Listen to the Tax Canary (in Business Vancovuer Island) (February 15, 2010)
Education and Sewage (in Times Colonist and Blackpress, Letters) (January 29, 2010)
Bay Street Bridge Closure a Wake Up Call (in Business Examiner) (January 27, 2010)
Improving Province's Productivity (in Business Vancouver Island) (January 15, 2010)
Stable Funding for Tourism an Urgent Need (in Business Examiner) (January 04, 2010)


Articles - 2009


The Greater Victoria Chamber of Commerce
#100 – 852 Fort St. Victoria, BC V8W 1H8
Phone: 250-383-7191
Fax: 250-385-3552

chamber@gvcc.org

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