Todd Hirsch, of the Calgary Herald, recently published an article, “Economic Shift to the West Gaining Momentum,” in which he identified ten reasons why Western Canada is slowly becoming the economic centre of Canada. Here is a summary of his reasons why 2011 could be a great year for the citizens and investors in Western Canada.
10. Provincial Debt – The Western Provinces are doing much better than Central Canada in controlling their spending. Saskatchewan is actually running a surplus. Controllable debt means a healthier market.
9. Agriculture – Moisture conditions look good for crops such as wheat, barley and canola. These are three of the biggest agricultural exports in the West.
8. Diversified Exports – More products are going overseas rather than to our American cousin. This means that we are less reliant on one consumer. Always a benefit.
7. Dollar on the Rise – Works well with the diversification mentioned above.
6. Fort Mac – An environmental stumbling block, but a massive revenue creator for Alberta.
5. Conventional Oil Drilling – There are other means for removing the black gold beneath Alberta’s surface.
4. Other Resources – Western Canada is rich in forestry, potash and base metals.
3. Job Numbers Increasing – Lower unemployment than the East.
2. City Growth – Saskatoon is the fastest growing metropolitan area in the country followed by Vancouver and Regina.
1. All of the Above – The perfect recipe for investing in the West.