Higher levels of Canada immigration must for strengthening economy-Study
Canada, 2nd May: Canada must work towards increasing its annual immigration levels if it wants to boost its economy, findings of a latest study by University of York, Vancouver have maintained.
Canada requires an additional 1 million foreigners between the year 2011 and 2021 for giving a stimulus to the GDP (gross domestic product) of the nation by around 2.3 percent, the university research asserts.
100,000 additional immigrants needed by Canada annually—Canada needs to attract an additional 100,000 new immigrants every year. Doing so will result in fetching a revenue of $14 billion to the tax revenue of the federal government.
Moreover, it will also lead to higher demand for various goods and services in the country and give a big stimulus to the investment here, stated lead author of the study, Professor Tony Fang.
Higher levels of Canada immigration will benefit the nation--The economy of Canada is yet to emerge completely out of the global economic crisis and attracting higher levels of immigrants will help the nation in a speedy recovery, asserted Fang, who is an associate professor of human resources in liberal arts and professional studies.
Various factors taken into consideration by the study for knowing their effects on Canada economy--For the study, the researchers of the University of York in Vancouver looked at several factors like funds coming to Canada by immigrants, spending of the Canadian government on extending infrastructure and other services to immigrants coming to Canada, participation of immigrants in the Canadian work force and differences in the labor market of Canada for analyzing the effects of higher levels of Canada immigration on the native-Canadian workers.
This was revealed by the press release on the research.
Canada boasts of highest immigration rate per capita—Canada happens to have the highest rate of immigration per capita out of various major nations. Moreover, there are a range of different skilled immigration programs in the nation that are of significant use in filling the shortages of skilled workforce felt by Canada from time to time.
Non-immigrants benefit from training and development programs by employers in Canada—Fang has stated during his earlier studies that it’s the non-immigrants, rather than immigrants, who happen to benefit greatly from various training and development projects extended by employers for providing promotions and higher payouts.
Hence, employers must focus towards reforming policies that leverage the talents and skills of immigrant professionals in Canada, he quipped.