Information Technology
Canada’s fast-growing information communications technology (ICT) sector contributed $94.1 billion dollars and 4.8% to the national GDP in 2019. 2020 forecasts predict that the sector will continue to grow to over $99 billion by the end of 2022. In 2019, ICT imports totaled over $11 billion dollars, growing steadily year after year for over a decade.
Despite the tremendous negative economic impact COVID-19 has had on the Canadian economy, the IT sector has remained, for the most part, resilient for a variety of reasons. This includes the sector’s ability to shift their processes quickly and easily to remote locations when compared to other sectors, the increased demand for IT services catalyzed by the pandemic and the resulting social distancing measures as well as the new emphasis placed by businesses on investments in technology in order to drive digital transformation in a post-COVID economy.[/ImageInfoWidget][ImageInfoWidget background_colour=”#ffffff” is_reversed=”true” attached_image=”20113″]
Tourism
With very few exceptions, international travel by Canadians had grown steadily year after year for over fifty years. In 2019, Canadian residents made 12.3 million trips to countries other than the United States, spending an estimated $21.7 billion on travel. Canada, in fact, ranks sixth among all countries in international tourism expenditures.
The COVID-19 pandemic has had a tremendous negative impact on the global tourism sector. International tourism expenditures in Canada dropped from approximately $21 billion in 2019, to an estimated $4.7 billion in 2020.[/ImageInfoWidget][ImageInfoWidget background_colour=”#eeeeee” attached_image=”20101″]
Creative and Cultural Industries
Canadians are strong consumers of the creative and cultural industries. Each year, over 99% of Canadians participate in ‘culture’ in some way. Canada is the most ethnically diverse country among modern Western countries. The ethnic makeup of Canada impacts not only the purchasing habits of recent immigrants and their children, but of mainstream Canadians as well, providing ample opportunities for services exporters in this sector.
In 2018, the latest year for which data is available, imports of cultural products (goods and services) totaled $2.9 billion, an increase of almost 14% from 2014 and accounting for 2.9% of Canada’s total imports.
The COVID-19 pandemic and the resulting public health measures have had a tremendous impact on the creative and cultural industries. For at least the short-term, services exports to Canada in this sector will be impacted by factors such as social-distancing measures and the length of time these restrictions stay in place as well as the ability of exporters to connect with their audiences online in the interim.[/ImageInfoWidget][ImageInfoWidget background_colour=”#ffffff” is_reversed=”true” attached_image=”20110″]
Education
When it comes to study-abroad programs Canada falls behind many other developed countries, with only 11% of Canadian university undergraduates participating in an international experience during their degree. However, the Canadian government has recently acknowledged the importance of study and work abroad opportunities and, to support and encourage study-abroad initiatives, has launched the International Education Strategy (IES) 2019-2024.
One of the 3 key objectives of the IES strategy is to, “encourage Canadian students to gain new skills through study and work abroad opportunities in key global markets, especially Asia”. This provides a timely opportunity for learning institutions, particularly those in Asia and Latin America, to develop programs and marketing initiatives tailored to Canadian students wishing to take advantage of the Outbound Student Mobility Pilot.[/ImageInfoWidget]