Major City Insights: Abbotsford–Mission—July 2021

The Conference Board of Canada, July 15, 2021
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Climbing vaccination rates mean cities across Canada are poised to bounce back from COVID-19-induced recessions this year. Hot housing markets and pent-up demand for in-person shopping, eating in restaurants, and travel will all help fuel the economic recovery.

This edition of Major City Insights provides our new forecast for growth in Abbotsford–Mission as of June 3, 2021.

Document Highlights

  • The Abbotsford–Mission area’s economy shrunk by 4.0 per cent in 2020, with its tourism-related industries suffering the most. But the local contraction wasn’t as bad as British Columbia’s overall, because the city’s construction industry fared relatively well.
  • This year should be a better one for the city. As vaccines continue to be administered and restrictions continue to ease, activity in many tourism-related industries and retail stores will pick up, leading the economy to grow by 6.6 per cent in 2021.
  • Employment will bounce back by 7.1 per cent in 2021 (an increase of 7,100 jobs). Job growth will pick up in construction, thanks to the strong housing market, and in other industries enjoying increased activity, especially manufacturing and industries that depend on social gathering.
  • Abbotsford will continue to benefit from strong population growth, which will support its housing market.

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