Canada’s economic strength in weathering the global economic crisis over the past year has increasingly drawn attention from overseas investors, an economist has said.
Derek Holt, vice-president of Scotia Capital Economics, said there is a general sentiment among investors that there’s a great story to tell in Canada and that investors around the world now see the country as a stellar place to invest.
Canada has fared much better than the United States and Europe during the world-wide economic crisis and data from international think tanks predict that Canada will have most robust growth of virtually all industrialized nations over the next two years.
Holt attributes this result largely to efficient regulators who kept a closer eye on financial institutions and the solid Canadian economy after the government slashed national debt in the 1990s.
Now, Canada has a lower government debt compared to other countries and is increasingly attractive to foreign investors, including migrants who take advantage of the immigrant investor program to emigrate to Canada.
Canadian investor immigration numbers have steadily increased over the last few years, reaching a record high last year.