Greater Vancouver Economic Scorecard: Outlook Bright, but Challenges Remain

HIGHLIGHTS                                             

• The Greater Vancouver region places 9th in an overall ranking of 20 global metro regions that assesses their relative attractiveness to both high-end talent and business investment.
• The region places 9th in the Economy category and 7th in the Social category.
• Despite its relatively high Social ranking, two factors hurt Vancouver's liveability: inadequate public transit and road infrastructure; and poor housing affordability.
• Other challenges relative to our competitors include: land scarcity for enabling trade; low productivity levels; high marginal tax rates on capital for businesses; challenges attracting head offices; and a low proportion of 25–34 year olds.

VANCOUVER, May 18, 2016 /CNW/ - Today, the Greater Vancouver Board of Trade released a new Greater Vancouver Economic Scorecard ranking for the Greater Vancouver region in relation to 19 other international metropolitan regions on key economic and social indicators. The Scorecard aims to measure Vancouver's strengths and weaknesses in attracting labour and business investment.

"There are many factors that make the Greater Vancouver region an attractive place for people and businesses. Greater Vancouver's economy has been among Canada's best-performing metro economies since 2010 and the region is a diverse and attractive place to live," said Iain Black, President and CEO of the Greater Vancouver Board of Trade. "But the Scorecard results suggest Greater Vancouver still faces significant challenges that if left unaddressed could impact our future economic vitality."

Prepared by The Conference Board of Canada, the detailed scorecard delivers mixed results for the Greater Vancouver region.

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boardoftrade.com/scorecard2016

About the Greater Vancouver Board of Trade:

Since its inception in 1887, the Greater Vancouver Board of Trade has been recognized as Pacific Canada's leading business association, engaging members to positively impact public policy at all levels of government and to succeed and prosper in the global economy. With a Membership whose employees comprise one third of B.C.'s workforce, we are the largest business association between Victoria and Toronto.

SOURCE Greater Vancouver Board of Trade

Media contact: Rob MacKay-Dunn, Director, Public Policy, Greater Vancouver Board of Trade, 604-640-5454 | [email protected]