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 Victoria metropolitan economy.