Document Highlights
Prince Edward Island’s first major outbreak since the beginning of pandemic occurred in late 2021, which likely hampered growth recently. But with the reopening already under way, the recovery should progress quickly.
Tourism will play a big role in the recovery as international cruise ships return to the province for the first time in two years.
An upgraded capital plan from the provincial government along with a new sports complex in Charlottetown will bolster the construction sector over this year and next.
One hiccup that will dampen prospects is the recent export ban on P.E.I. potatoes. The manufacturing sector should avoid major impact however as frozen manufactured potato products are unaffected.
This year and next should be solid for the Island, with real GDP expected to grow 2.5 per cent in 2022 and 3.4 per cent in 2023.
