Vancouver which is a prominent vibrant city located in the province of British Columbia became a city in 1886. It is known to be the third largest city in Canada. It is the geographical location of Vancouver that makes it play such an important role in the overall economy of Canada. It has two surrounding waterways as well as a quality and highly protected deep sea port with easy access to the Pacific ocean. This allows for international transport which works well for the import-export industries. Both of which are critically important to any country’s economy
A Leader in the Canadian Economy
The province of British Columbia has been dubbed as being the province that is going to lead the Canadian economy through 2017 and continuing into 2018. Vancouver plays a large part in this because of the size of the city and its geographical location. As well as the many industries that it supports. The city along with the province itself has been enjoying economic growth for the past three years.
When an economy is as strong as what Vancouver’s is it means is that the Federal and Provincial governments are going to fare well just from the collection of taxes that the city is able to collect.
One of the important industries in Vancouver is its tourism industry. This alone can bring in a large volume of GST and PST to the tax coffers. This is something that the different levels of government keep a watchful eye on as they want to make sure that nothing is going to interfere with the strength of the tourism industry and the many benefits that it provides to the Canadian economy on the whole.
Another great advantage of the strong economy in Vancouver is the viability for the job market. When more individuals are working there is a less strain on the economy and more taxes of a different nature are then being collected.