Confronting Change: Executive Summary of the Territorial Outlook to 2045

Confronting Change: Executive Summary of the Territorial Outlook to 2045

Provincial
Pages:2 pages5 min read

Author: The Conference Board of Canada

$735.00

Canada’s northern territories are crucial to our nation’s identity, resource wealth, and environmental stewardship. Our Territorial Outlook to 2045 considers the trends, opportunities, and challenges that will guide the territorial economies in the years ahead. 

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Canada’s territorial economies are navigating testy times. As consumption, investment and export demand weaken, what are the risks to jobs creation and incomes in the territories?

The territories are heavily dependent on extractive industries. As the risks of a changing climate grow, how will miners transition to achieve net zero emissions in the coming years?

Infrastructure development is important to the territories as improved transportation and communications create employment and provide access to remote areas. As inflation pushes up project costs and delays starts, what is the outlook for residential and non-residential construction?

Demographics have a significant influence on the territorial economies.  Will immigration to Canada counterbalance Yukon and the Northwest Territories’ low fertility rates and aging populations? How will Nunavut, with its distinct population, grapple with its unique labour market challenges?

The territories suffer from a lack of private sector investment and economic diversification. How will a region that is reliant on the government sector and exposed to mineral price shocks encourage the kind of competition and innovation the private sector brings?

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