Document Highlights:
Prince Edward Island is expected to lead the nation in economic growth over the next two years.
Thanks to solid population growth—the strongest in the country due to the success of the Atlantic Growth Strategy—demand for new housing is surging, bolstering the construction sector.
In addition to new permanent residents, visitors continue to flock to the Island, as the province remains a hotbed for tourism with another record-breaking year anticipated.
Strong population growth and high levels of tourism will raise demand in the wholesale and retail trade as well as provide a boost to manufacturing on the Island.
The recent economic hot streak is maintaining solid revenue growth for the province. This improvement in provincial coffers comes at an opportune time as the Island will be facing fiscal challenges over the near term with rising interest rates and an aging population.
There are no reviews yet.