Canada must see immigration as a competitive edge
Diversity and immigration are important parts of Canada’s past, present and future.
Canadians have built a prosperous and civil society, one rich in opportunity, that people of many different cultures call home. Our economic strength is derived from the combination of what we all have in common and what makes each of us different.
Canada welcomes almost a quarter of a million permanent immigrants each year – one of the highest rates of all developed countries. It is projected that 28 per cent of Canadians will be foreign-born by 2031 up from 20 per cent today. Canada must remain a destination of choice for skilled immigrants – entrepreneurs, professionals, scientists. Talent is more mobile and potential immigrants have more choices than ever before, with predictions of skills shortages for many developed economies. Simply opening our doors is not enough.
A 2012 RBC Economics study found that if immigrants were earning equal pay to Canadian-born peers, personal income would be $31-billion higher – more than 2.1 per cent of Canada’s GDP. This means we are failing to tap the full potential of these highly skilled people, and the full economic potential of our nation.
Reference: The Globe and Mail