Major City Insights: Hamilton—April 2022

The Conference Board of Canada, April 28, 2022
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Despite the rise in case counts from both the Omicron and BA.2 variants early in 2022, most Canadian cities have already seen restrictions loosened or dropped. We expect this to aid in the continued recovery of CMA economies across the country this year. It’s especially good news for the travel and tourism markets in each region, which so far have lagged most other industries in returning to their pre-pandemic levels. Still, higher prices and instability in other parts of the world serve as a downside risk to this year’s outlook.

This edition of our Major City Insights provides new forecasts for growth in 13 major cities across Canada as of March 23, 2022.

This forecast focuses on the Hamilton metropolitan economy.

Document Highlights

  • Although the highly infectious COVID-19 Omicron variant likely took some steam out of economic activity at the start of 2022, it is not expected to throw Hamilton’s expansion off course.
  • The removal of most public health and safety measures brings the economy closer to a state of normalcy.
  • But COVID-19 is still present, and if the last two years have taught us anything, curveballs in the form of new variants and waves can still appear at any time.
  • Nevertheless, the worst is likely behind us, thereby allowing most industries to get back on track over the near term.
  • Hamilton is expected to surpass its pre-pandemic GDP levels in the second half of 2022.
  • After expanding by 4.0 per cent last year, real GDP in Hamilton is forecast to advance by 3.9 per cent in 2022 and by 3.5 per cent in 2023.

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