Document Highlights:
Following up on stronger-than-expected growth in 2021, provincial real GDP will grow by 3.1 per cent in 2022 and 3.0 per cent in 2023.
High inflation and labour shortages will threaten growth over the next two years. Job vacancies in the provincial construction industry remain elevated and are dragging down the sector’s output.
Tourism will forge ahead. Cruise ships have begun to dock in Vancouver and Victoria again, though COVID-19 has contributed to a rough restart.
High commodity prices will be a boon for British Columbia’s natural resource exporters, though slowdowns in the United States and China may constrain trade.
Global energy markets are shifting away from Russian exports. Medium-term prospects for British Columbia’s liquified natural gas industry are becoming rosier.
There are no reviews yet.