Canada committed to diversity and immigration to strengthen its economy

Canada’s past, present and future are inextricably linked with immigration and the diversity of its population, according to the Bank of Canada’s CEO.Gordon Nixon.

The CEO of the Bank of Canada and head of Toronto’s Immigrant Employment Council, stated in a press release today that Canada’s traditional welcome to immigrants from across the world has always been a major weapon in the country’s economic success. He believes that difference and diversity is part of the reason for the country’s continued prosperity.

Canada welcomes 250,000 permanent immigrants each year and, by 2031, 28 per cent of Canadian nationals will have been foreign-born migrants, eight per cent more than the present day figure. According to Nixon, it’s a country of opportunity for the skilled and qualified, and gives potential migrants a wider range of immigration visa choices than most other immigration destinations. .

Entrepreneurs, businessmen, scientists, IT specialists and other qualified, experienced professionals are queuing to be admitted, even although initial pay scales fall below those offered to Canadian nationals. Nixon believes the country is short-changing its new arrivals and failing to take full advantage of their positive effect on the economy.

He’s happy with the diversity of the population in general, saying that being inclusive equals strength due to the experience and expertise it brings to the workforce. Recruiting the brightest and the best by a varied range of immigrant visas, he notes, drives growth and productivity and encourages innovation.

Nixon believes that industry leaders should be taking more advantage of the overseas talent on offer in all fields, thus increasing the diversity of their workforces and the inclusivity of their employee services. Programmes to help new arrivals settle in should come as standard, along with cultural activities, integration and education about becoming part of the nation.