Do we really need to say how much devastation and fear has COVID-19 created all over the world? World’s most prosperous countries are struggling to contain and eradicate this pandemic. Just as much is the recovery of people necessary at this hour, so is the need to recover from the economic losses that have been incurred.
The stalling of migration overseas is a huge blow to many countries to whom immigration is a great economic contributor. The gravity of economic impact Is evident when the IMF gives a statement that the economic downturn today is the worst one since the Great Depression. With a 3% contraction in the global economy as projected by IMF for 2020, taking drastic but wise decisions is necessary for every nation.
In a country like Canada, where immigration Canada is a great source of manpower and economic gains, the bold steps are already out to be witnessed. Canada has already given out word that it will bring in more than 1 million immigrants in the period 2020-22. This was necessary to help develop its economy.
Even grappling with the escalation and the resultant border closure and migrant restrictions, Canada immigration visa processes have been on all the while. This has given rise to the question of whether Canada should brave the odds to welcome more immigrants.
The answer to this lies in understanding the importance of keeping Canada’s immigrant flow intact. Canada needs them more than ever to recover and keep the economic impact from devastating its future. The country needs its immigrants to promote economic growth.
Canada has projected its immigrant plan for inviting over 300,000 immigrants per year in the next few years. This aims at alleviating its demographic challenges like low birth rate and an aging population.
Immigration is the major solution for Canada to improve its population status. It has been so since the 1990s and will be even more so in the years to come. With the growth in population, the country’s labor force becomes stronger. With more overseas workers productively utilized, the country can grow its economy exponentially.
Canada finds its new skilled and young immigrants through Express Entry and Provincial Nominee Programs. To halt or reduce immigration activities could seriously affect its economic growth potential.
With the way Canada is balancing its anti-COVID measures and immigration for essential sectors, world economists are positive about its faster revival. Canada will see more of its people getting back to work and many more job opportunities created for immigrants.
Before COVID-19, Canada had record lows in unemployment and a decade of vigorous economic growth. The greater number of immigrants only helped it to do better in its various economic sectors.
Canadian-born workers and immigrants are in fact all set to benefit from the economic rebound post-COVID-19. Canada has proven its skill in managing worker shortages. So, when the baby boomers shall retire in the near future, Canada won’t be dealing with a human resource crisis.
Another area that Canada will benefit from Canada PR immigration will be the immigrants starting new businesses. One of the recent studies of Statistics Canada reveals that immigrant entrepreneurs created 25% of new private sector jobs between 2003 and 2013. Post-COVID Canada will capitalize on this trend effectively in the future.
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