This annual economic forecast for the province of Ontario examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Provincial Outlook Long-Term Economic Forecast: Ontario—2020
Provincial Outlook Long-Term Economic Forecast: Ontario—2020
Provincial Economic Analysis
$705.00
Please note that this forecast was prepared before COVID 19 dramatically changed the near term economic outlook.
- Real GDP growth in Ontario is expected to moderate over the long term, with average annual gains of 1.7 per cent projected between now and 2040.
- A low birth rate, an aging population, and strong migration to Ontario are the leading demographic trends shaping the long-term outlook for the province.
- Immigration will become the main source of population growth by 2035—the point at which Ontario’s natural rate of population increase is projected to turn negative.
- Promising fundamentals—including continued strong demand from the U.S., new inroads into global markets, and a favourable exchange rate—bode well for Ontario’s export sector over the long term.
- An aging population drives higher public spending on health care while also narrowing the government’s available tax base. This will put the squeeze on the Ontario government’s coffers over the long term and make it difficult to rein in the province’s ballooning debt.
Customers Who Downloaded This Also Liked
10 min read
10 min read
10 min read
14 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.
