Après les Boomers, le Déluge: British Columbia’s Outlook to 2045

This annual economic forecast for the province of British Columbia examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.

Document Highlights

British Columbia’s real GDP growth between 2022 and 2045 will average 1.7 per cent annually. This is a percentage point lower than the annual average growth between 2000 and 2019.

B.C.’s natural rate of population growth will turn negative in 2026 as the number of deaths in the province begins to outnumber births. This trend will continue to 2045.

After peaking in 2021, housing starts in B.C. will taper off over the long term. New housing starts will average about 25,800 per year between 2022 and 2045.