Hello, I am your COVID-19 Digital Assistant! Overall, BC’s economic contraction will be less pronounced than some of the other provinces, which depend heavily on the oil sector. British Columbia. In 2018, tourism contributed more to GDP than any other primary resource industry (forestry & logging $1.8B, agriculture & fishing $3.2B, oil & gas $4.9B, and mining:$5.2B). British Columbia. The Province has protected jobs and workers impacted by COVID-19 with an online variance application that simplified the process to extend temporary layoffs, resulting in the approval of more than 500 variances that protect more than 9,100 jobs across a variety of economic sectors. Explore B.C. BC had the second-fastest growing provincial economy in 2017 (+3.7%), sustained by strong real estate, finance, and media sectors in Vancouver. Similar to previous years, Statistics Canada published only real dollar GDP by industry at government has extended the deadline for the Small and Medium Sized Business Recovery Grant program to ensure businesses have the time they need to apply. BC Public Service employees who live in the Westshore and surrounding communities can now work closer to home at the new Westhills ShareSpace – a modern, spacious and flexible co-working office. Learn about the province’s regions, population and ten-year employment outlook. The official start of the 2021 camping season is still a few months away, but people living in B.C. pdf. British Columbia’s seven economic development regions are diverse and have unique labour market conditions. See list of current Ministries The national GDP will drop by 40% in the second quarter of 2020, while the full-year GDP contraction is expected to hover at 8% due to the forthcoming recovery over the last two quarters of the year. economy. Although BC Stats doesn’t gather data on the tax contributions of different sectors, StatsCan makes this information available on a national level. BC has diverse strengths in natural resources, manufacturing, and service industries, making it resilient to economic downturns. Government's extensive collection of datasets, applications and web services. Luckily, other organizations have produced estimates for these sectors that we can use to compare. Questions? to be resilient, Victoria should not The Central 1 Credit Union’s latest forecast for the B.C. Economic Recovery Indicators dashboard, Read more about BCEA and GDP, and view the related data, Find more information about the Input-Output Model, View data on incorporations and bankruptcies, Find manufacturing sales (shipments) data by industry and manufacturing principal statistics, View data for building permits by type and statistics for housing starts and sales, View more economic statistics including household spending, B.C. COVID-19 economic recovery plan boosts B.C. Explore the B.C. employed fewer than five employees, and 60% were self-employed individuals with no paid help. Each ministry is responsible for a specific area of public policy, government function or service delivery. in 2017; of these, 98% were small businesses with fewer than 50 employees. the tech sector, domestic and international travel, shipbuilding, public sector employment…all of the mainstays of the local economy are facing challenging and uncertain times. Throughout the pandemic, the ministry has consulted extensively with business owners, sector associations and marketing organizations to hear their priorities for recovery and ideas to help British Columbia remain … The Government of British Columbia is acting to address the challenges facing Site C from COVID-19 and other factors to ensure the project is completed safely, providing British Columbians with clean, reliable and affordable electricity for the next 100 years. British Columbia is expected to outperform Canada with strong, stable economic growth this year, Finance Minister Carole James said, following an annual meeting with the Economic Forecast Council. “I’m proud that the members of the Economic Forecast Council have affirmed B.C.’s position as an economic leader in Canada,” James said. Government is strengthening local election campaign financing rules to increase accountability and transparency for elections, ensuring people are at the centre of local politics. The B.C. economy compared with other primary resource industries, including forestry, agriculture & fisheries, and mining and oil … Tourism is one of British Columbia’s leading economic sectors and is significant in every region of our province. takes next steps to protect people with COVID-19 vaccine rollout plan, Province launches FireSmart Economic Recovery Fund, View the Sector's latest photos on Flickr, View the Sector's latest videos on YouTube. The most promising sectors for future growth are: high technology, ocean recreation, and ports & shipping 4. B.C.’s economy is constantly evolving. Rachna Singh, Parliamentary Secretary for Anti-Racism Initiatives, and Jennifer Whiteside, Minister of Education, have released the following statement to mark Black Shirt Day on Jan. 15, 2021: The Province is accepting applications from non-profit organizations for one-time funding for projects and initiatives that support British Columbia’s francophone community. Find a variety of statistics related to the economic strength of B.C. An Evolving Economy. Premier John Horgan and Grace Lore, Parliamentary Secretary for Gender Equity, have issued the following statement for International Women’s Day: A new program supporting local governments to improve their development approvals process builds on the Province’s commitment to help people and communities get the homes they need built faster. The national economy with the closest figure for the relevant year according to the International Monetary Fund is then indicated. (Note that because the same conversion rate is used for all of Canada, this method overstates the GDP PPP of provinces and territories with high price levels, and understates the GDP PPP of provinces and territories with low price levels.) government. Contact us through Service BC. And these changes directly affect the number and type of jobs available. In October 2015, LifeSciences BC released a PwC Report – The Life Sciences Sector in BC ~ Economic Impact Now and in the Future that details the sector’s economic footprint in the province. COVID-19 has had a devastating effect on the tourism sector and has altered British Columbia’s visitor economy. And these changes affect the number and type of jobs available. From: Infrastructure Canada (https://www.infrastructure.gc.ca/index-eng.html). The Province has protected jobs and workers impacted by COVID-19 with an online variance application that simplified the process to extend temporary layoffs, resulting in the approval of more than 500 variances that protect more than 9,100 jobs across a variety of economic sectors. This document describes the Economy Sector's guidelines for developing systems. are receiving funding under the Community Economic Recovery Infrastructure Program’s (CERIP) destination development stream. View labour market data for the province of British Columbia. Vancouver Island’s economy is diverse. tourism industry. charging ahead with EV fleet supports, 2021 camping season reservations opening for B.C. Further, 83% of businesses in B.C. Legislative changes, if passed, will build on the Province’s work to give British Columbians more security by extending the rent freeze to Dec. 31, 2021. Businesses in British Columbia’s agrifoods sector serve the global marketplace. Although its significance has declined as the economy has matured and diversified over the past few decades, the forest remains important. With our diverse and growing selection of agrifood products including Canadian wine and seafood, our international reputation for high food safety standards and our favourable location for international shipping, our agrifoods sector is well positioned for growth and investment in both existing and new markets. The contribution of each of these sectors varies by region. New local learning centres in remote northwestern B.C. *Don't provide personal information . Scan historical and outlook data for B.C.’s 18 major industries. forest industry; Check … The BC Economic Atlas gives you a picture of what’s happening with B.C.’s economy. residents, Cleanup nets tonnes of plastics, marine gear, polystyrene and more, Property tax grant program streamlined for quicker service, Funding supports businesses to launch online, Joint statement on B.C.’s COVID-19 response, latest updates, Applications open for French-language funding, Nominate an exceptional citizen for B.C.’s highest honour, State of emergency extended to continue B.C.’s COVID-19 response, Temporary layoff extensions protect thousands of jobs, WorkSafeBC guidelines support safe reopening of businesses, RNs begin prescribing addiction treatment medications, a Canadian first, Urgent and primary care centre coming soon to Penticton, New fund helps local governments deliver on housing priorities, COVID-19 ICBC customer rebates to average $190, Work experience grant’s third intake expands eligibility, Research project on period poverty released, Tourism industry bolstered through destination development, Fund helps forest sector with COVID-19 costs, Canada and British Columbia invest in innovative green infrastructure projects, Forest agreement to benefit First Nation, community, Contract awarded for new bridge in Highway 1 four-laning project, Gendered language changes reduce barriers, Joint Statement on International Women’s Day, Ensuring people in the music industry can keep rocking, Minister’s statement on interim supply bill, New fairness officer to build trust in ICBC processes, Food Hub Network expands to new B.C. Key industries include Tourism, Agriculture, Aquaculture, Forestry, Manufacturing, High Tech, and Education. This dashboard provides readers a view of selected data relevant to monitoring the impacts of COVID-19 in British Columbia and an opportunity to explore key economic trends as the COVID-19 situation evolves. Input-Output (I-O) Model is used to generate regional economic dependency figures, as well as employment and revenue multipliers. Labour Market & Industry. To see these again later, type "popular topics". • the above total ocean sector impacts comprise 7-8% of the total BC economy • there are substantial opportunities for all private sector components of the BC ocean economy to grow. Growth is expected to slow to 2.1 percent in 2018 and 2019, but still leading most other provinces. Listen to the Sector's latest audio clips on SoundCloud. Not Out of the Woods Yet. Public Service is divided into ministries. So here’s the high-tech sector, as measured by BC’s statistical agency, BC Stats (source here) and tourism, as defined by the BC Crown corporation Destination BC ( source here ): As you can see, both high tech and tourism are big, important parts of the BC economy, responsible for billions of … Compared to financial services (25%) and manufacturing (13%) this number is unimpressive. Economic Recovery Indicators Dashboard. Approximately 600 instances of gendered language across 15 ministries' regulations have been updated to reflect the diversity of the people served by the B.C. But BC is more dependent on tourism. 's response to COVID-19 | Seniors 85+ and Indigenous peoples 65+ can call to get vaccinated.
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