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. British Columbia’s two largest metro areas have seen their shares of new permanent
residents decline in recent years. Metro Vancouver still attracts the overwhelming majority of permanent residents, though that proportion has declined slightly over time, with 77% of British Columbia’s share, versus 80% pre-pandemic. And while Victoria sees most of its population growth as a result of domestic migration, international migration still plays an important role. Victoria, meanwhile, has seen its share decline marginally, from 4.7% pre-pandemic to 4.5% so far this year. Interestingly, the share that chose to settle in Victoria proper has stayed constant over that same period. The City of Victoria continues to account for 94% of all new permanent residents in the Capital Region, even though it only represents roughly one quarter of its total population. When newcomers to Canada move to the Capital Region, they overwhelmingly choose Victoria.
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