17 November 2009

People who emigrate to Canada key to economic health: report

A report released by the Organisation for Economic Co-operation and Development (OECD) has emphasized tapping into the skills of migrants is key for Toronto, a city with immigrants representing half of the five million population.

Despite the positive benefits of a high level of migrants the report found the city is wasting the advantage increased population can bring, and recommended more links between universities and companies, market-driven enterprises instead of firms bolstered by subsidies, and improved transportation with less emphasis on cars.

The OECD report said Toronto "is one of Canada's chief economic powerhouses," with 40 per cent of the nation's business headquarters, almost one-fifth of the country's gross domestic product, almost half of Ontario's GDP, and 40 per cent of all people who emigrate to Canada settle in Toronto.

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