Optimism Re-fueled

CN Tower, Toronto

Goodbye 2016

It is a no brainer that January brings in with itself a sense of nostalgia for the year gone by. However, it also fills us with hope and excitement for a new beginning. If one were to follow the turn of events, it is no longer arduous to relocate to Canada with myriad initiatives introduced over the past couple of years. A rising number of invitations and dwindling of processing times corroborates this fact. Furthermore, unfolding of events like the Brexit and Donald Trump’s victory in the US, Canada has emerged as the most preferred destination for immigration across the globe.

Bienvenue au Canada

A joint study last year by U.S. News & World Report, BAV Consulting and Wharton School ranks Canada as the second-best country in the world after Germany, based on various factors like sustainability, adventure, cultural influence and entrepreneurship among others. The survey also accentuates that the second largest country of the world ranks first in the ‘quality of life’ category that encompasses factors such as education, public health care, safety and economic stability.

[1] Undoubtedly, these factors make Canada a land of indulgence.

Higher admissibility of economic class

The new year started on an explosive note with an unprecedented 2,902 applications invited in the first round of invitation. Immigration is crucial for the economic growth of Canada considering the changing demographics of the workforce. The contribution made by immigrants is palpable – not only it fills the jobs that are held by the aging population, it also contributes towards maintaining the social fabric and character of the diverse communities.

Albeit the overall immigration targets are kept unchanged at 300,000 from 2016, it is the economic class that stands to gain the most out of it. A record of 172,500 immigrants under this segment are planned for admission this year, from the previous year target of 160,600.[2] This increase will be largely offset by a reduction of intake of refugee quota.

Source – CIC

Immigrants, an indispensable input

So, what makes immigrants so inseparable component of Canada’s workforce? The natural indigenous population growth of Canada is not enough to maintain consistent growth levels and sustain welfare on a long-term basis. The cohort between the age group of 20 to 44 years is the one that is most active, productive, fosters consumerism and contributes towards taxation revenues.  At the fore, the future success of the country will be highly dependent on importing talent.  Furthermore, immigrants prefer Canada as the most favored destination due to its labor mobility element.

All in all, it is imperative to attract and retain skilled workforce for economic prosperity and attainment of national interests. The overhaul of the immigration rules reinforces our conviction that supply of talent is here to stay for long. We, daresay, to envisage exciting times ahead!

 

 

[1] http://globalnews.ca/news/2465526/canada-named-2nd-best-country-in-the-world-report/

[2] http://news.gc.ca/web/article-en.do?nid=1145319

2017-09-19T18:39:53+00:00

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