Provincial Outlook Long-Term Economic Forecast: Prince Edward Island—2020

Please note that this forecast was prepared before COVID 19 dramatically changed the near term economic outlook.

• Economic growth in Prince Edward Island will outpace the national growth rate over the long term as the province undergoes a population boom, thanks to a sustained wave of international migration.
• P.E.I.’s demographics will have a positive impact on housing and household consumption.
• As in the rest of the country, population aging will limit potential growth. However, compared to its Atlantic neighbours, P.E.I.’s population will age at a considerably slower pace.
• The greying of the population will lead to higher demand for health care and social services, pinching Island finances.
• Despite the challenges, the long-term outlook for P.E.I. is bright.