1. With over 50 types of tourism products found in six distinct regions and countless communities province wide, tourism epitomizes how small and medium-sized businesses contribute to the economy:
o B.C. has nearly 18,000 tourism-related businesses province wide.
o 77 per cent of all tourism businesses have fewer than 20 employees.
o 56 per cent have fewer than 10 employees.
o 43 per cent of all tourism businesses are outside the Greater Vancouver area.
2. The tourism division budget is approximately $52 million for 2011-12, up from $24 million in 2001. This budget includes resources for marketing, partnerships, and policy and research.
3. In 2010, the tourism sector employed 127,000 British Columbians, generated over $13.4 billion in revenue for tourism-related businesses and contributed over $1.2 billion to provincial government revenues.
4. The ski industry generates annual revenues of about $500 million dollars.
5. With the tagline ‘Get Above it All in British Columbia’, the 2011-12 North America winter ski campaign has for the first time been developed in collaboration with members of the Canada’s West Ski Areas Association, which includes representatives from B.C.’s 13 export-ready ski resorts. The $1.1-million campaign, which runs from November to March, will focus primarily on the Ontario market (largely Greater Toronto). For four weeks starting Monday, Nov. 14, the city will be inundated with transit shelter ads, subway and underground walkway posters, and elevator wraps in key buildings that provide a link to a B.C. ski microsite and contest.
6. A key priority over the next five years will be attracting more tourists from countries with large emerging middle classes, such as China and India, while maintaining strength in traditional markets such as the Ontario, California/Washington, the U.K., Germany, Australia and Japan. In 2010, China was B.C.’s fifth-largest international market for direct customs entries with 118,481 visitors to the province, an increase of 18.9 per cent over 2009.
7. As I said earlier “Gaining The Edge”: A Five-Year Strategy for Tourism in British Columbia’ also calls for a bigger push to provide marketing products in areas that most motivate people to choose BC. These areas include: touring vacations, city experiences, skiing-snowboarding, Aboriginal tourism, outdoor adventure/ecotourism, and meetings and conventions.
8. The strategy will target a five per cent annual growth in revenue in the tourism sector, expected to reach $18 billion annually by 2016.
9. We will also be implementing stable and predictable funding and working with the Tourism Industry Association of BC towards a new multi-faceted tourism marketing partnership including provincial, regional and community marketing organizations, with clear roles and accountabilities.
10. In addition we will be removing barriers to industry growth by working with the federal government to address challenges to international air access with key existing and emerging tourism markets, and to promote timely air, marine and land border access. The Province will work with the tourism sector to ensure labour market strategies are in place that identify and address the sector’s unique labour market pressures.
Showing posts with label Pat Bell. Show all posts
Showing posts with label Pat Bell. Show all posts
Sunday, October 30, 2011
Saturday, October 22, 2011
Pat Bell's Top Ten - Oct 22nd
Courtesy of the Hon. Pat Bell (BC Minister of Jobs, Tourism and Innovation)
1. The Federal Government has chosen Seaspan’s Vancouver Shipyards as the prime contractor to build the National Shipbuilding Procurement Strategy (NSPS) program’s non-combat vessels.
2. The total value of the program is $8 billion.
3. It will create an average of 4000 jobs over the next 8-years.
4. In addition, the Federal Government has plans for a further 17 vessels which should fall under the non-combat package.
5. Although planning will begin immediately, construction on the new vessels will not likely start until late 2012.
6. In the meantime, over $150 million worth of infrastructure will be built at Seaspan’s shipyards in North Vancouver and Victoria, while vessel design work is being finalized.
7. One of the first projects Seaspan will build what will be for the Canadian Coast Guard, the $720-million John G. Diefenbaker polar ice breaker. The ship at 140 metres in length, will play a key role in the Canada’s effort to establish a stronger presence in the Canadian Arctic.
8. Included in the contract are two joint support ships for the navy, three fisheries vessels and an oceanographic ship. Up to 8 Arctic offshore patrol vessels, including 4 oceanographic science ships and 3 fisheries science vessels, are planned.
9. It’s estimated that direct taxes from the contract will amount to $500 million over the life of the contract.
10. The Province supported the bid by providing up to $40 million in training tax credits and BC Ferries provided up to $20 million towards technology and training for a total contribution of up to $60 million.
1. The Federal Government has chosen Seaspan’s Vancouver Shipyards as the prime contractor to build the National Shipbuilding Procurement Strategy (NSPS) program’s non-combat vessels.
2. The total value of the program is $8 billion.
3. It will create an average of 4000 jobs over the next 8-years.
4. In addition, the Federal Government has plans for a further 17 vessels which should fall under the non-combat package.
5. Although planning will begin immediately, construction on the new vessels will not likely start until late 2012.
6. In the meantime, over $150 million worth of infrastructure will be built at Seaspan’s shipyards in North Vancouver and Victoria, while vessel design work is being finalized.
7. One of the first projects Seaspan will build what will be for the Canadian Coast Guard, the $720-million John G. Diefenbaker polar ice breaker. The ship at 140 metres in length, will play a key role in the Canada’s effort to establish a stronger presence in the Canadian Arctic.
8. Included in the contract are two joint support ships for the navy, three fisheries vessels and an oceanographic ship. Up to 8 Arctic offshore patrol vessels, including 4 oceanographic science ships and 3 fisheries science vessels, are planned.
9. It’s estimated that direct taxes from the contract will amount to $500 million over the life of the contract.
10. The Province supported the bid by providing up to $40 million in training tax credits and BC Ferries provided up to $20 million towards technology and training for a total contribution of up to $60 million.
Sunday, October 16, 2011
BC sets new export record to China
From the Government of BC:
British Columbia has broken another record in lumber exports to China this year – with shipments already surpassing 2010’s final year-end record total, announced Pat Bell, Minister of Jobs, Tourism and Innovation.
According to the latest international merchandise trade data released this week by Statistics Canada, lumber exports over the first eight months of the year from B.C. to China, including Hong Kong, total $746 million. For all of 2010, B.C’s lumber exports to the country were worth $687 million.
Forestry is one of the key sectors highlighted in Canada Starts Here: The BC Jobs Plan. B.C.’s success with lumber exports to China is a direct result of a trilateral provincial-federal-industry effort to focus on the China market that started in 2003, and included the establishment of a Chinese subsidiary of Forestry Innovation Investment, the Province’s market development agency for forest products. The agency has offices in Shanghai and Beijing.
The record lumber export numbers have resulted in thousands of jobs in B.C. and the re-opening of mills in towns like Ladysmith and Mackenzie.
B.C. is also breaking records with respect to overall merchandise exports to China and Hong Kong. Over the first eight months of 2011, overall exports are worth almost $3.4 billion, an increase of more than $1 billion or 42 per cent compared with the pace set over the same period in 2010.
To further boost trade and investment with Asia, Premier Christy Clark will be leading a trade mission to China and India from Nov. 4 to 16.
As pledged in Canada Starts Here: The BC Jobs Plan, the Province will double B.C.’s international presence in key and expanding markets and will implement a promotional campaign to highlight British Columbia as a safe harbour to attract new international investment.
To learn more about the BC Jobs Plan, visit www.BCJobsPlan.ca.
Quote:
Minister of Jobs, Tourism and Innovation Pat Bell:
“The latest information from Statistics Canada confirms that our plan to expand lumber exports to China is working. We will continue to work to further expand lumber exports, and as we move forward in implementing the BC Jobs Plan, we are going to use the lessons learned selling B.C. lumber in China and apply them to other sectors of our provincial economy.”
Quick Facts:
· In August 2011 the value of lumber exports to China was worth $81 million, an increase of $17 million or 27 per cent compared with the same month in 2010.
· Volume of lumber exports for the month totalled 596,000 cubic metres, an increase of 187,000 cubic metres or 46 per cent compared with volume in August 2010.
· Final year-end merchandise exports to China in 2010 totalled $4.3 billion.
British Columbia has broken another record in lumber exports to China this year – with shipments already surpassing 2010’s final year-end record total, announced Pat Bell, Minister of Jobs, Tourism and Innovation.
According to the latest international merchandise trade data released this week by Statistics Canada, lumber exports over the first eight months of the year from B.C. to China, including Hong Kong, total $746 million. For all of 2010, B.C’s lumber exports to the country were worth $687 million.
Forestry is one of the key sectors highlighted in Canada Starts Here: The BC Jobs Plan. B.C.’s success with lumber exports to China is a direct result of a trilateral provincial-federal-industry effort to focus on the China market that started in 2003, and included the establishment of a Chinese subsidiary of Forestry Innovation Investment, the Province’s market development agency for forest products. The agency has offices in Shanghai and Beijing.
The record lumber export numbers have resulted in thousands of jobs in B.C. and the re-opening of mills in towns like Ladysmith and Mackenzie.
B.C. is also breaking records with respect to overall merchandise exports to China and Hong Kong. Over the first eight months of 2011, overall exports are worth almost $3.4 billion, an increase of more than $1 billion or 42 per cent compared with the pace set over the same period in 2010.
To further boost trade and investment with Asia, Premier Christy Clark will be leading a trade mission to China and India from Nov. 4 to 16.
As pledged in Canada Starts Here: The BC Jobs Plan, the Province will double B.C.’s international presence in key and expanding markets and will implement a promotional campaign to highlight British Columbia as a safe harbour to attract new international investment.
To learn more about the BC Jobs Plan, visit www.BCJobsPlan.ca.
Quote:
Minister of Jobs, Tourism and Innovation Pat Bell:
“The latest information from Statistics Canada confirms that our plan to expand lumber exports to China is working. We will continue to work to further expand lumber exports, and as we move forward in implementing the BC Jobs Plan, we are going to use the lessons learned selling B.C. lumber in China and apply them to other sectors of our provincial economy.”
Quick Facts:
· In August 2011 the value of lumber exports to China was worth $81 million, an increase of $17 million or 27 per cent compared with the same month in 2010.
· Volume of lumber exports for the month totalled 596,000 cubic metres, an increase of 187,000 cubic metres or 46 per cent compared with volume in August 2010.
· Final year-end merchandise exports to China in 2010 totalled $4.3 billion.
Saturday, October 1, 2011
Pat Bell's Top Ten for October 1st
1. FORESTRY
B.C.’s forestry industry is on the rebound. Since 2003, when we focused on opening new markets in China and Hong Kong, exports have grown from $69 million to 687 million a year. We know our market, have an international reputation as a stable supplier of high-quality wood products, and offer timber supply security.
2. MINING
B.C.’s mining industry is booming: we have abundant mineral deposits, and are well positioned to meet growing global demand. More than half of Canada’s exploration companies are based here, and we employ the world’s highest concentration of mining professionals, geologists, engineers, prospectors, metallurgists, assayers, lawyers, accountants and financiers.
3. NATURAL GAS
More than half of the remaining natural gas in the Western Canadian Sedimentary Basin is in British Columbia. If natural gas prices stay where they are, this sector is on line to double production by 2020, bringing both jobs and investment opportunities.
4. AGRIFOODS
With fertile land and abundant water, British Columbia leads Canada in sales of blueberries, cranberries, sweet cherries and raspberries. Growers produce food with strong health benefits, a low environmental footprint and an ethical approach. Emerging markets, particularly on the Pacific Rim, will drive demand for trusted and high-quality foods.
5. TECHNOLOGY
BC is home to world-class high tech companies. The demand for digital, wireless and screen based entertainment is on the rise – in 2010, India and China alone added more than 300 million wireless subscribers. China’s market for green technology is forecast to grow to $1 trillion by 2013.
6. TOURISM
British Columbia is a choice tourism destination. Global international arrivals will grow to 1.6 billion by 2020, an average of 4.5 per cent per year. Almost 18,000 tourism companies in B.C. create most of the 128,600 jobs in the industry. By 2019, we expect that to grow to 196,000 jobs.
7. INTERNATIONAL EDUCATION
British Columbia has a reputation for educational excellence. In 2010, 94,000 international students came to British Columbia to study in our Kindergarten – Grade 12, post secondary and Language Canada schools. It’s a growth industry: by 2025, global demand for international education is predicted to more than double to 7.2 million.
8. TRANSPORTATION
Companies in B.C., the U.S, and Asia look to the Pacific Gateway for quick connections across the Pacific. Vancouver, Kitimat and Prince Rupert are Asia’s closest ports of entry on the West Coast, closer than Los Angeles and Long Beach. Steady improvement to ports, rail, roads and airports is key.
B.C.’s forestry industry is on the rebound. Since 2003, when we focused on opening new markets in China and Hong Kong, exports have grown from $69 million to 687 million a year. We know our market, have an international reputation as a stable supplier of high-quality wood products, and offer timber supply security.
2. MINING
B.C.’s mining industry is booming: we have abundant mineral deposits, and are well positioned to meet growing global demand. More than half of Canada’s exploration companies are based here, and we employ the world’s highest concentration of mining professionals, geologists, engineers, prospectors, metallurgists, assayers, lawyers, accountants and financiers.
3. NATURAL GAS
More than half of the remaining natural gas in the Western Canadian Sedimentary Basin is in British Columbia. If natural gas prices stay where they are, this sector is on line to double production by 2020, bringing both jobs and investment opportunities.
4. AGRIFOODS
With fertile land and abundant water, British Columbia leads Canada in sales of blueberries, cranberries, sweet cherries and raspberries. Growers produce food with strong health benefits, a low environmental footprint and an ethical approach. Emerging markets, particularly on the Pacific Rim, will drive demand for trusted and high-quality foods.
5. TECHNOLOGY
BC is home to world-class high tech companies. The demand for digital, wireless and screen based entertainment is on the rise – in 2010, India and China alone added more than 300 million wireless subscribers. China’s market for green technology is forecast to grow to $1 trillion by 2013.
6. TOURISM
British Columbia is a choice tourism destination. Global international arrivals will grow to 1.6 billion by 2020, an average of 4.5 per cent per year. Almost 18,000 tourism companies in B.C. create most of the 128,600 jobs in the industry. By 2019, we expect that to grow to 196,000 jobs.
7. INTERNATIONAL EDUCATION
British Columbia has a reputation for educational excellence. In 2010, 94,000 international students came to British Columbia to study in our Kindergarten – Grade 12, post secondary and Language Canada schools. It’s a growth industry: by 2025, global demand for international education is predicted to more than double to 7.2 million.
8. TRANSPORTATION
Companies in B.C., the U.S, and Asia look to the Pacific Gateway for quick connections across the Pacific. Vancouver, Kitimat and Prince Rupert are Asia’s closest ports of entry on the West Coast, closer than Los Angeles and Long Beach. Steady improvement to ports, rail, roads and airports is key.
Friday, September 23, 2011
Memo to Adrian Dix - BC JOBS Plan includes every part of BC
From the BC Government Caucus:
Adrian Dix apparently hasn’t taken the time to read Canada Starts Here: the B.C. Jobs Plan, otherwise he’d know the plan stimulates job growth in every part of the province.
“Hearing Adrian Dix and his NDP caucus parrot a ridiculous line about how the B.C. Jobs Plan doesn’t assist Vancouver Island or the Kootenays is simply laughable,” says Minister Pat Bell. “Last time I checked, the Kootenays were home to some of the biggest provincial revenue-generators in the form of coal mines in the Elk Valley. The Comox Valley is one of the most important agricultural regions in B.C. And forestry is a huge part of the economies of those regions.”
The NDP have a penchant for wanting to pick winners and losers – not just industries, but specific companies.
“Skeena Cellulose is the classic example of NDP ineptitude when it comes to economic management,” says Bell. “Throwing money around and raising the debt that our kids have to pay is not what British Columbians expect from their government, but it’s what the NDP delivered in the 1990s, and it’s what they’d deliver again if they get the chance.”
“Our plan is sensible, sustainable, and long-term, and that’s what taxpayers expect.
“We’re getting government out of the way, and helping the private sector do what they do best: create jobs in every single region of B.C.”
Adrian Dix apparently hasn’t taken the time to read Canada Starts Here: the B.C. Jobs Plan, otherwise he’d know the plan stimulates job growth in every part of the province.
“Hearing Adrian Dix and his NDP caucus parrot a ridiculous line about how the B.C. Jobs Plan doesn’t assist Vancouver Island or the Kootenays is simply laughable,” says Minister Pat Bell. “Last time I checked, the Kootenays were home to some of the biggest provincial revenue-generators in the form of coal mines in the Elk Valley. The Comox Valley is one of the most important agricultural regions in B.C. And forestry is a huge part of the economies of those regions.”
The NDP have a penchant for wanting to pick winners and losers – not just industries, but specific companies.
“Skeena Cellulose is the classic example of NDP ineptitude when it comes to economic management,” says Bell. “Throwing money around and raising the debt that our kids have to pay is not what British Columbians expect from their government, but it’s what the NDP delivered in the 1990s, and it’s what they’d deliver again if they get the chance.”
“Our plan is sensible, sustainable, and long-term, and that’s what taxpayers expect.
“We’re getting government out of the way, and helping the private sector do what they do best: create jobs in every single region of B.C.”
Sunday, September 11, 2011
Pat Bell's Top Ten - Jobs Agenda
1. We are the Pacific gateway for Canada and the closest port to the new emerging Asian markers of China and India.
2. We have an abundance of natural resources and high environmental standards in extracting these resources.
3. We have a very multilingual and multicultural society.
4. We have a safe investment climate.
5. We have very competitive taxes.
6. We have a Globally recognized safe banking system.
7. We are open market traders with a regulatory regime that has been fine tuned to eliminate duplication.
8. We have a highly skilled and educated workforce.
9. We show leadership in emerging technologies.
10. We have a clean and green reputation.
2. We have an abundance of natural resources and high environmental standards in extracting these resources.
3. We have a very multilingual and multicultural society.
4. We have a safe investment climate.
5. We have very competitive taxes.
6. We have a Globally recognized safe banking system.
7. We are open market traders with a regulatory regime that has been fine tuned to eliminate duplication.
8. We have a highly skilled and educated workforce.
9. We show leadership in emerging technologies.
10. We have a clean and green reputation.
Wednesday, August 31, 2011
Pat Bell's "Top Ten" for August 31st
1. PST will be restored at 7%
2. Target date is March 31, 2012
3. Permanent exemptions that existed as of June 30, 2010 will return.
4. We may try and make some administrative improvements
5. $230 HST low‐income credit replaced with $75 PST credit
6. The Province will work with the federal government to develop HST transition rules and to make any necessary changes to systems and processes.
7. The provincial government will begin discussions with the federal government about exiting the Comprehensive Integrated Tax Coordination Agreement (CITCA) including the return of the funding received for adopting the HST. Provincial Legislation and Transitional Rules:
8. The provincial government will develop legislation and regulations necessary to re-implement the PST in B.C. and may make some administrative changes to streamline and improve the PST.
9. Provincial PST transition rules to mirror federal HST transition rules will be developed.
10. The provincial government will develop other legislation and administrative programs necessary to support the full reimplementation of the PST (e.g. hotel room tax, etc). Provincial Systems Development:
11. The Province will develop and establish appropriate reporting, data gathering, billing, remittance/collection, audit, assessment and appeal processes, and supporting computer systems to properly administer the PST and other related taxes (e.g. hotel room tax, etc.) in B.C.
12. The Province will re-establish its capacity to administer the tax in the areas of registration and close of business, field and desk audit, appeals, rulings, provincial tax information phone lines, billings and remittances, collections and refunds. This will include staffing, facilities and equipment, and staff training to administer the PST and related taxes. This also includes developing appropriate administrative reporting forms and other information and communications material required to support the transition.
13. The provincial government will register approximately 100,000 businesses as tax collectors before the PST is re-implemented and provide information and training on the tax application, collection, compliance and reporting rules related to the PST. By the time the PST is re-implemented, there will be an estimated 30,000 new businesses in B.C. with no PST experience. These businesses will need to be registered and provided with detailed information and training to enable them to comply with the tax law.
14. Businesses will need to change their own electronic and manual systems and processes to assess, collect, report and remit the PST and other related taxes to the provincial government.
15. The provincial government will consult with key administration stakeholders once provincial transition rules are completed. The Province relies on partner agencies to help ensure efficient tax collection, reporting and compliance. These agencies will need to make a number of systems and process changes, as well as receive information and training to help complete the PST transition.
2. Target date is March 31, 2012
3. Permanent exemptions that existed as of June 30, 2010 will return.
4. We may try and make some administrative improvements
5. $230 HST low‐income credit replaced with $75 PST credit
6. The Province will work with the federal government to develop HST transition rules and to make any necessary changes to systems and processes.
7. The provincial government will begin discussions with the federal government about exiting the Comprehensive Integrated Tax Coordination Agreement (CITCA) including the return of the funding received for adopting the HST. Provincial Legislation and Transitional Rules:
8. The provincial government will develop legislation and regulations necessary to re-implement the PST in B.C. and may make some administrative changes to streamline and improve the PST.
9. Provincial PST transition rules to mirror federal HST transition rules will be developed.
10. The provincial government will develop other legislation and administrative programs necessary to support the full reimplementation of the PST (e.g. hotel room tax, etc). Provincial Systems Development:
11. The Province will develop and establish appropriate reporting, data gathering, billing, remittance/collection, audit, assessment and appeal processes, and supporting computer systems to properly administer the PST and other related taxes (e.g. hotel room tax, etc.) in B.C.
12. The Province will re-establish its capacity to administer the tax in the areas of registration and close of business, field and desk audit, appeals, rulings, provincial tax information phone lines, billings and remittances, collections and refunds. This will include staffing, facilities and equipment, and staff training to administer the PST and related taxes. This also includes developing appropriate administrative reporting forms and other information and communications material required to support the transition.
13. The provincial government will register approximately 100,000 businesses as tax collectors before the PST is re-implemented and provide information and training on the tax application, collection, compliance and reporting rules related to the PST. By the time the PST is re-implemented, there will be an estimated 30,000 new businesses in B.C. with no PST experience. These businesses will need to be registered and provided with detailed information and training to enable them to comply with the tax law.
14. Businesses will need to change their own electronic and manual systems and processes to assess, collect, report and remit the PST and other related taxes to the provincial government.
15. The provincial government will consult with key administration stakeholders once provincial transition rules are completed. The Province relies on partner agencies to help ensure efficient tax collection, reporting and compliance. These agencies will need to make a number of systems and process changes, as well as receive information and training to help complete the PST transition.
Monday, August 8, 2011
Jobs Minister Pat Bell on Global Economic Situation
Government is monitoring the current situation in the United States and Europe very carefully, as recent economic events in those regions are of concern.
While British Columbia is not immune to economic events abroad, B.C. has weathered the recession of 2008/09 better than most other provinces in Canada. This was due in large part to the renewed competitiveness of the province that has existed since early last decade, as well as the large gains made in terms of diversification of our economy – in particular our efforts to identify new trade markets such as China and India.
We expect this renewed competitiveness will keep B.C. in good stead going forward as the United States and other countries deal with their various balance sheet issues.
While global issues can have an impact on our economy and we remain committed to the objective of a balanced budget in 2013/2014. Our credit rating remains at AAA, economic growth has continued during this time and our debt continues to be at a manageable level
While British Columbia is not immune to economic events abroad, B.C. has weathered the recession of 2008/09 better than most other provinces in Canada. This was due in large part to the renewed competitiveness of the province that has existed since early last decade, as well as the large gains made in terms of diversification of our economy – in particular our efforts to identify new trade markets such as China and India.
We expect this renewed competitiveness will keep B.C. in good stead going forward as the United States and other countries deal with their various balance sheet issues.
While global issues can have an impact on our economy and we remain committed to the objective of a balanced budget in 2013/2014. Our credit rating remains at AAA, economic growth has continued during this time and our debt continues to be at a manageable level
Saturday, June 25, 2011
Pat Bell's Top Ten - June 24th
1. Gross Domestic Product - Updated May 12, 2011
British Columbia’s economy bounced back in 2010, expanding 4.0% after posting a 1.8% decline in real GDP (chained 2002 dollars, measured at basic prices) in the previous year. The recovery was broadly based, with both the goods and service sectors making significant gains. The rebound in goods-producing industries was partly driven by a turnaround in resource-based industries. A long downturn in the forest sector finally came to an end in 2010, while the mining, oil and gas extraction industry posted its first increase in real GDP since 2005. The construction industry also picked up speed after losing ground in 2009. In the service sector, most industries made gains in 2010. The Olympics provided a boost to several tourist-related industries, including accommodation and food services, which expanded 3.5%.
(Prepared by BC Stats, Source: Statistics Canada)
2. Employment and Unemployment - Updated May 6, 2011
British Columbia’s unemployment rate was down to 7.9% in April 2011. This was 0.2 percentage points less than the rate recorded in the previous month. The improvement was largely due to continued employment growth, as the number of British Columbians with jobs increased (+0.4%) for a third straight month. The labour force expanded a marginal 0.1%.
Goods-producing industries, which had experienced significant job losses during the recent recession, continued to rebound (+2.2%) but job growth in the service sector stalled (-0.1%) for a third straight month. There were more private sector jobs (+0.4%) but employment in the public sector shrank 0.7%.
(Prepared by BC Stats, Source: Statistics Canada, Labour Force Survey)
3. Wages in B.C. - Updated May 6, 2011
Workers in the province earned an average wage of $23.06 per hour in April, which was exactly the same as the national wage rate. However, weekly wages in BC ($828.11) were below the Canadian average ($837.75), reflecting a slightly shorter work week in this province.
Young workers in BC typically earn more than those in other parts of the country. Hourly wages for British Columbians aged 15 to 24 averaged $13.57 in April, compared to $13.23 for all young Canadians.
(Prepared by BC Stats, Source: Statistics Canada, Labour Force Survey)
4. Retail Sales - Updated May 20, 2011
Sales at British Columbia’s retailers inched up 0.2% (seasonally adjusted) in March, continuing its recovery of the previous month. Quebec (+0.5%) and Atlantic Canada also saw moderate increases in sales. Nationally retail sales remained flat (0.0%) as gains were offset by weaker sales in the provinces of Ontario (−0.8%), Manitoba (−0.3%) and Alberta (−0.1%).
During the first quarter of 2011, BC’s retail sales fell 1.3% (seasonally adjusted), offsetting gains from the last quarter of 2010 (+1.7%) almost entirely. Quebec (−0.6%) and Ontario (−0.1%) bucked this trend in a similar fashion, while retail sales in Manitoba (+1.8%), Saskatchewan (+2.3%) and Alberta (+0.3%) enjoyed gains in the same quarter. Nationally, retails sales for the first quarter remained flat (0.0%).
(Prepared by BC Stats, Source: Statistics Canada)
5. International Trade (Exports) - Updated May 12, 2011
The value of BC exports rebounded (+3.7%, seasonally adjusted) in March, mirroring the decline
recorded in February (-3.7%). Double-digit increases in shipments of forestry (+10.7%) and industrial & consumer (+11.2%) products were the major contributors to the boost in provincial exports. Agriculture & fishing (+1.5%) exports were also up, but international shipments of energy (–6.4%) and automobile, machinery & equipment (–3.9%) products fell. US-bound goods were off (-1.9%) for the second straight month, while shipments to other destinations advanced (+8.0%). The slump in south-bound goods was mostly the result of declining energy (–19.4%) shipments.
(Prepared by BC Stats, Source: BC Stats)
6. Housing Starts - Updated May 9, 2011
Housing starts in the province increased for the first time since December, rising 23.0% (seasonally adjusted) in April. BC bucked the national trend, which saw the number of new housing starts drop 3.1% as new construction activity slowed in both Ontario (-9.0%) and Quebec (-10.9%), while Alberta posted a modest 1.4% increase.
(Prepared by BC Stats, Source: Canadian Mortgage and Housing Corporation)
7. Tourist visits - Updated June 17, 2011
Visitor entries to Canada through BC were up (+0.7%, seasonally adjusted) in April. Same-day visits from the US (-0.1%) were off for the third consecutive month, while overnight trips also experienced a small decline (-0.3%). Overall, total US entries dipped 0.3%. However, there were more travelers from overseas countries (+3.8%), driven primarily by a double-digit increase (+11.5%) in the number of visitors from Asia. Meanwhile, European entries (-2.1%) were down.
There were nearly 1.2 million Canadians returning home via BC in April, up 3.3% from the previous month. Total trips from the US increased 2.8%, while the number of Canadians returning from overseas jumped (+8.1%).
(Prepared by BC Stats, Source: Statistics Canada)
8. Population – Updated March 24, 2011
The population in British Columbia reached 4,554,085 as of January 1st, 2011. In the fourth quarter of 2010, population growth was at its lowest since 2006, up 1.2% compared to the same quarter in 2009. Saskatchewan continued to lead growth (+1.5%). BC shared fifth place with Ontario above the average growth across Canada (+1.1%).
(Prepared by BC Stats, Source: Statistics Canada)
9. Independent Economic Forecast Council on economic growth
B.C.’s economy is expected grow moderately over the next year according to B.C.’s independent Economic Forecast Council. On average, the council forecasts B.C.’s GDP growth at 2.7 per cent for this year. This is down from Budget 2010, when economic growth was projected at 3.1 per cent. For 2012, the council’s forecast is unchanged at 3.0 per cent. The council’s average annual forecast for 2013-2015 is 2.8 per cent.
10. B.C.’s top credit rating reconfirmed
The Dominion Bond Rating Service, Standard & Poor, and Moody's Investment Service have all reconfirmed B.C.'s strong credit rating. The most recent report from Moody's notes the Province's debt reduction efforts of the past few years have put British Columbia in a stronger position to face the economic downturn. DBRS rates B.C. AA (High); Standard & Poor, AAA; and Moody's, AAA.
British Columbia’s economy bounced back in 2010, expanding 4.0% after posting a 1.8% decline in real GDP (chained 2002 dollars, measured at basic prices) in the previous year. The recovery was broadly based, with both the goods and service sectors making significant gains. The rebound in goods-producing industries was partly driven by a turnaround in resource-based industries. A long downturn in the forest sector finally came to an end in 2010, while the mining, oil and gas extraction industry posted its first increase in real GDP since 2005. The construction industry also picked up speed after losing ground in 2009. In the service sector, most industries made gains in 2010. The Olympics provided a boost to several tourist-related industries, including accommodation and food services, which expanded 3.5%.
(Prepared by BC Stats, Source: Statistics Canada)
2. Employment and Unemployment - Updated May 6, 2011
British Columbia’s unemployment rate was down to 7.9% in April 2011. This was 0.2 percentage points less than the rate recorded in the previous month. The improvement was largely due to continued employment growth, as the number of British Columbians with jobs increased (+0.4%) for a third straight month. The labour force expanded a marginal 0.1%.
Goods-producing industries, which had experienced significant job losses during the recent recession, continued to rebound (+2.2%) but job growth in the service sector stalled (-0.1%) for a third straight month. There were more private sector jobs (+0.4%) but employment in the public sector shrank 0.7%.
(Prepared by BC Stats, Source: Statistics Canada, Labour Force Survey)
3. Wages in B.C. - Updated May 6, 2011
Workers in the province earned an average wage of $23.06 per hour in April, which was exactly the same as the national wage rate. However, weekly wages in BC ($828.11) were below the Canadian average ($837.75), reflecting a slightly shorter work week in this province.
Young workers in BC typically earn more than those in other parts of the country. Hourly wages for British Columbians aged 15 to 24 averaged $13.57 in April, compared to $13.23 for all young Canadians.
(Prepared by BC Stats, Source: Statistics Canada, Labour Force Survey)
4. Retail Sales - Updated May 20, 2011
Sales at British Columbia’s retailers inched up 0.2% (seasonally adjusted) in March, continuing its recovery of the previous month. Quebec (+0.5%) and Atlantic Canada also saw moderate increases in sales. Nationally retail sales remained flat (0.0%) as gains were offset by weaker sales in the provinces of Ontario (−0.8%), Manitoba (−0.3%) and Alberta (−0.1%).
During the first quarter of 2011, BC’s retail sales fell 1.3% (seasonally adjusted), offsetting gains from the last quarter of 2010 (+1.7%) almost entirely. Quebec (−0.6%) and Ontario (−0.1%) bucked this trend in a similar fashion, while retail sales in Manitoba (+1.8%), Saskatchewan (+2.3%) and Alberta (+0.3%) enjoyed gains in the same quarter. Nationally, retails sales for the first quarter remained flat (0.0%).
(Prepared by BC Stats, Source: Statistics Canada)
5. International Trade (Exports) - Updated May 12, 2011
The value of BC exports rebounded (+3.7%, seasonally adjusted) in March, mirroring the decline
recorded in February (-3.7%). Double-digit increases in shipments of forestry (+10.7%) and industrial & consumer (+11.2%) products were the major contributors to the boost in provincial exports. Agriculture & fishing (+1.5%) exports were also up, but international shipments of energy (–6.4%) and automobile, machinery & equipment (–3.9%) products fell. US-bound goods were off (-1.9%) for the second straight month, while shipments to other destinations advanced (+8.0%). The slump in south-bound goods was mostly the result of declining energy (–19.4%) shipments.
(Prepared by BC Stats, Source: BC Stats)
6. Housing Starts - Updated May 9, 2011
Housing starts in the province increased for the first time since December, rising 23.0% (seasonally adjusted) in April. BC bucked the national trend, which saw the number of new housing starts drop 3.1% as new construction activity slowed in both Ontario (-9.0%) and Quebec (-10.9%), while Alberta posted a modest 1.4% increase.
(Prepared by BC Stats, Source: Canadian Mortgage and Housing Corporation)
7. Tourist visits - Updated June 17, 2011
Visitor entries to Canada through BC were up (+0.7%, seasonally adjusted) in April. Same-day visits from the US (-0.1%) were off for the third consecutive month, while overnight trips also experienced a small decline (-0.3%). Overall, total US entries dipped 0.3%. However, there were more travelers from overseas countries (+3.8%), driven primarily by a double-digit increase (+11.5%) in the number of visitors from Asia. Meanwhile, European entries (-2.1%) were down.
There were nearly 1.2 million Canadians returning home via BC in April, up 3.3% from the previous month. Total trips from the US increased 2.8%, while the number of Canadians returning from overseas jumped (+8.1%).
(Prepared by BC Stats, Source: Statistics Canada)
8. Population – Updated March 24, 2011
The population in British Columbia reached 4,554,085 as of January 1st, 2011. In the fourth quarter of 2010, population growth was at its lowest since 2006, up 1.2% compared to the same quarter in 2009. Saskatchewan continued to lead growth (+1.5%). BC shared fifth place with Ontario above the average growth across Canada (+1.1%).
(Prepared by BC Stats, Source: Statistics Canada)
9. Independent Economic Forecast Council on economic growth
B.C.’s economy is expected grow moderately over the next year according to B.C.’s independent Economic Forecast Council. On average, the council forecasts B.C.’s GDP growth at 2.7 per cent for this year. This is down from Budget 2010, when economic growth was projected at 3.1 per cent. For 2012, the council’s forecast is unchanged at 3.0 per cent. The council’s average annual forecast for 2013-2015 is 2.8 per cent.
10. B.C.’s top credit rating reconfirmed
The Dominion Bond Rating Service, Standard & Poor, and Moody's Investment Service have all reconfirmed B.C.'s strong credit rating. The most recent report from Moody's notes the Province's debt reduction efforts of the past few years have put British Columbia in a stronger position to face the economic downturn. DBRS rates B.C. AA (High); Standard & Poor, AAA; and Moody's, AAA.
Subscribe to:
Posts (Atom)