Why Canada is Growing VERY Fast

on June 16 2023 Canada reached a milestone of 40 million people while not huge by World standards it is significant for how quickly it reached Denmark relative to its historical Trends while it took 62 years to reach 10 million people it only took 26 years to grow its population from 30 to 40 million the growth rate which considers various factors like births deaths immigration and immigration stands at 2.3 percent in 2022 which is significantly higher than similar countries like the U.S which stands at 0.4 percent in Australia at 1.1 percent take a look at this chart Canada welcomed 341 000 immigrants in 2019. the numbers dipped slightly in 2020 before bumping up to more than 400 000 immigrants two years in a row with a goal of 500 000 by 2025. you might think with the health care crisis housing and affordability that the government would slow down the rate of growth but could be wrong the exact opposite is happening and let's dismiss this notion that they don't know what they're doing they know exactly what they're and what Canadians don't know is that this is related to the century initiative plan a plan for 100 million Canadians by 2100 it is a lobbying group that has connections to the current Deputy Prime Minister the former CEO of Rogers and is headed by Mark Wiseman a former BlackRock exec a company with big real estate Investments and is a member of the world economic Forum they have a vision not just for the 100 million number but for these Mega regions where populist regions like the GTA Greater Vancouver area et cetera grow by between 200 to 400 percent in terms of population now let's step back for a moment it's worth mentioning that Canada's fertility rate has been on the decline for years and has been fluctuating between 1.5 to 1.4 below the replacement rate of 2 meaning the population would naturally fall like in Japan if not for immigration also if you look at the population pyramid you can see a lot of members of the boomer generation are close to or past the retirement age meaning a need for workers to replace them so there are legitimate reasons for these increase also Canada has historically welcomed a lot of immigrants in abroad and even the 2100 population would not eclipse the current day or future populations of the countries to its South like the us or Mexico historically Canada had less population not just due to the cold or its high latitude I mean Toronto is near the same latitude as Barcelona and Montreal with the Venice but because of the Canadian Shield a rugged geographical region stretching from the Arctic Ocean to the Great Lakes region rendering much of the soil unsuitable for large-scale agriculture and not able to sustain a large population as the climate gets warmer geopolitical competition in the Arctic is heating up one of the big questions relates to sovereignty and who has claimed to the Arctic territory and Resources Canada only has 150 000 inhabitants in the Arctic region while Russia has two and a half million both sides have programs designed to get people to live and work in the north although the reason Russia has more people there to begin with is due to the larger land mass to work with 2.6 million square kilometers larger to be exact which for the sake of comparison is larger than the size of Saudi Arabia and Mexico it also has resources such as minerals fish oil and gas Canada does have resources up north a beat extracted at a much more limited scale military infrastructure is another thing which Canada does have but at a much more limited scale and government policy to forcibly or voluntarily move people to the Arctic again Canada has some history of doing this most notably the high Arctic relocation program in the 1950s where some innuent families were moved from Northern Quebec to Resolute Bay and Greece Fjord both countries have a lot to gain from the melting Arctic specifically the opening up of new shipping routes through the North Pole the Northwest Passage provides a shorter alternative to the Panama Canal for ships sailing between Europe and the west coast of North America or Asia the Northeast passage provides an alternative to the Suez Canal for ships traveling between Europe and the East coasts of Asia such as China Japan and South Korea both routes are disputed by the EU and the U.S as to whether they belong to Russia and Canada respectively or our international waters while the EU and U.S both have strain ties with Russia to put things mildly can has to rebalance its claim of Summer tea while also being in a position of relying on EU and the U.S heavily for trade and defense through the NATO alliance while the future demographic trends of Canada are in better shape than Russia it remains to be seen whether the increasing temperature incentives will lead people to moving up north to help their claims given the majority of people move to either Toronto Montreal or Vancouver and 90 percent of Canadians just live 160 kilometers from the U.S border which leads to the next section on housing prices now it goes without saying that increasing the population impacts housing prices more people need housing which is already in low supply low Supply and high demand leads to higher prices take a look at the chart of average house prices in Canada which is inevitably worse than the more in-demand markets like Toronto Montreal and Vancouver in many ways the immigration is a bandage over the root problems low birth rate due to high cost of living and other factors to be fair more immigration costs for business is too high more immigration not enough people in the trades because students are University more immigration not enough Tech workers well you get the point make no mistake a lot of the population growth will come from Tech workers this is evident by specific programs designed to attract Tech workers digital Nomads H-1B visa holders to make it easier to come to Canada Tech is a large part of the economy and countries around the world want to attract the best talents Canada is an advanced economy with top research institutions and is regarded as a Kinder gentle replaced in the U.S with ambitions to be a tech Powerhouse but with the High Cost of Living a lot of workers follow the money and work in the U.S a short drive across the border to cheaper housing earning a higher income from a currency with higher purchase and power it's easy to lament how someone born in Canada goes to schools subsidized by the taxpayers and as soon as they graduate move to the U.S only to move back when they're older to take advantage of the free healthcare and social programs But the irony is that what the US does to Canada Canada does to other countries as well being that Canada is easier to immigrate to while sharing similarities to U.S with all the tech talent coming another area to address is worker productivity despite immigration being a central part of the plan to economic growth Canada is projected by the oecd to be last among advanced economies for a real GDP per capita up until 2060. while population growth can improve labor utilization the other side is labor productivity which requires businesses to invest in their workers and r d the problem is that a lot of Industries like mining forestry telecoms and banks are heavily protected from competition which is good for profits less so for Innovation productivity requires competition but when it is difficult to start a company due to regulation financing difficulties companies inevitably follow the money and move elsewhere the increase in population is only a bandage around a long-term structural problem in conclusion the reasons for Canada's population expanded rapidly is due to a number of reasons such as the demographic situation and the labor shortage the impacts of this population boom will be felt for years and decades to come in many areas before or even considering the cultural aspects of how to integrate this many people from many different backgrounds so if you like this video please give a like comment share and subscribe this is Insight sync and thank you for watching

Channel: Insight Sync

Views: 88,793

Keywords: Canada, Canada Housing, Justin Trudeau, Mexico, Pierre Poilievre, Population, USA, United States, canada, canada population, canadian real estate, canadian tech, trudeau, stephen harper, Russia, Immigration, Canada Immigration, Canada Population, BlackRock, Birth Rate, Fertility, canada vlog, canada economy, canada birth rate, canada collapse, canada geopolitics, canada video, canada growth rate, canada death rate, canada house prices, canada cost of living, canada politics, toronto

Id: VTE4yfNYvcc

Length: 7min 12sec (432 seconds)

Published: Mon Jul 31 2023