demographics
04. demographics
As Canada adds more and more permanent residents each year due to expanding immigration targets, it's the country's municipalities that are adapting to the growth.
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Canada has embarked on an ambitious immigration strategy, as we’ve discussed in the past, and as a result is experiencing record population growth. New permanent resident additions are just one piece of that immigration (along with temporary permits which we will explore next) but are the centrepiece of the strategy and the sole permit type with explicit targets. The target for 2023 is 465,000 new permanent resident additions increasing to 500,000 in 2025. So far this year we are on pace to easily surpass that number and British Columbia is once again attracting more than its share, accounting for 15% of the permits issued to-date. Where those permanent residents are settling within British Columbia has been changing over time. Here in Metro Vancouver, we still attract the overwhelming majority of new permanent
residents, though that proportion has declined slightly over time, with 77% of British Columbia’s share, versus 80% pre-pandemic. What’s more, the distribution of where immigrants are moving within Metro Vancouver has changed more dramatically. Vancouver proper still attracts the largest share of immigrants, though that share has declined from 49% pre-pandemic to 37% so far in 2023. Most of the other urban municipalities in Metro Vancouver have seen their shares of new immigrants grow, particularly Surrey increasing from 21% to 29% and Burnaby increasing from 9% to 11%. With this change in the flow of immigration it makes sense, then, that cities like Surrey and Burnaby have been growing faster than Vancouver of late, though—notably—those cities have been adding housing, too.
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