Building on COVID-Period Immigration Levels: The Economic Case
Immigration is key to Canada’s future prosperity. This year, Canada can choose between building on COVID-period immigration targets or returning to pre-COVID levels. The two scenarios presented show the projected economic impact of each scenario, and the report recommends how to maximize the benefits of immigration for Canadians and newcomers.
- Building on COVID-era immigration targets leads to greater GDP and public revenues, as well as a better worker-to-retiree ratio.
- Higher immigration levels yield a modest decrease in GDP per capita in the growth scenario by 2040, showing the need to bridge the employment and income gaps between immigrant and Canadian-born population.
- Underemployment and lack of access to entrepreneurship opportunities remain a challenge for newcomers, particularly in the years immediately following their arrival. More rapid integration into the economy will increase GDP, GDP per capita, and public revenues in both scenarios.
- Easy and early access to holistic settlement services that address all dimensions will help improve social and economic inclusion.
- A stable immigration system with strong access to permanent residence and citizenship make Canada an attractive destination for potential immigrants.
- Distribution of immigrants across Canada, including to rural communities, spreads the benefits of immigration.
Table of Contents
The economic benefits of building on COVID-era immigration levels
Implementing immigration as a growth strategy
Recommendations: Unlocking the full economic potential of immigration