According to a new study, immigrants are vital for the growth of Canada’s economy, with one million foreign workers needed to be brought in within the next ten years.
The study, conducted by the University of York in Vancouver, suggests that such an influx of expatriate workers would increase the national GDP by up to 2.3 percent. It would also lead to more tax revenue, estimated at a $14 billion, and more demand for goods and services in Canada.
The research was headed by Professor Tony Fang. He examined what kind of impact a sustained period of immigration would have on the Canadian economy. Investigating factors such as immigrant spending and their effect on the workforce, Professor Fang eventually concluded that the final result would be overwhelmingly positive for Canada’s future.
Professor Fang, associate professor of human resources in the faculty of liberal arts and professional studies, has long been interested in the true value of expatriate workers in Canada.
Canada has a history of being a good destination for expats, however Fang still believes there is work to be done to ensure that these expats settle in well and slot in to their roles accordingly, “There is an urgent need for employers to develop better policies for integrating and leveraging the talents of immigrant professionals,” he said.