This report discusses Newfoundland and Labrador’s competitive strengths and weaknesses against its peers to identify areas where the province can improve its competitive business environment. This is to build a path to sustainable prosperity, in light of the province’s aging population and current dependence on finite resources in the oil and mining industries.
Achieving Sustainable Prosperity: Benchmarking the Competitiveness of Newfoundland and Labrador
Achieving Sustainable Prosperity: Benchmarking the Competitiveness of Newfoundland and Labrador
Immigration Research and Policy
Industry Economic Analysis
Provincial Economic Analysis
$0.00
- Newfoundland and Labrador has been enjoying economic, fiscal, and productivity growth for 20 years due to the development of the offshore oil and metal mining sectors.
- However, these resources are finite and the government is too reliant on revenues from the oil sector, so the sustainability of the province’s current prosperity is put into question.
- A second challenge for the province is its rapidly aging population with the resulting impact on the labour force and on health care expenditures.
- The province’s competitive position must be strong to ensure sustainable prosperity in light of these ongoing and future challenges.
- This report benchmarks the province’s business competitiveness in four areas—innovation, investment, human capital, and the business and policy environment—against nine of its direct competitors.
- Results of this benchmarking analysis show that the province’s competitiveness has much room for improvement when compared with these competitors.
- Policy recommendations are presented to help the province meet the upcoming challenges of aging and resource depletion and enhance its competitive business environment.
- Areas of recommended policy reform include boosting immigration, investing in productivity-enhancing infrastructure, curbing public administration spending, and creating a sovereign wealth fund, among others.
Customers Who Downloaded This Also Liked
14 min read
15 min read
Require an accessible version of this research?
Upon request, Signal49 Research offers accessible versions of research. Please contact us to request your accessible version.
Learn more about our accessibility policies.
Effective January 26, 2026, AERIC Inc./Signal49 Research discontinued use of ‘The Conference Board of Canada’ name, logo and branding, which had been used by AERIC Inc./Signal49 Research under license from The Conference Board, Inc. The Conference Board, Inc. and its licensees, which are not affiliated with Signal49 Research, own all right, title and interest in THE CONFERENCE BOARD name and trademarks in Canada and have the exclusive right to their use in Canada since January 26, 2026.
