The Canadian government has opened its doors to new permanent residents. According to Canadian Visa Expert, the federal government of Canada has revealed its targets for immigration from 2024 through 2026.
The number of new permanent residents is scheduled to increase to 485,000 and 500,000 in 2024 and 2025, respectively. These targets ensure adequate numbers of people are admitted to Canada to steady the economy and help fill the available vacant job roles.
Canadian Visa Expert could confirm that the plan surpasses the records for the number of permanent residents admitted in a year in both 2022 and 2023.
Impact of Immigration on Canada’s Economy
While Canada still wants more people to migrate to the country between 2024 and 2026, some economists have been showing concern regarding the policies and the numerous implications on the economy.
Canadian Visa Expert could establish that over the past several months, the government has been under greater pressure to address a nationwide lack of available and affordable housing.
Amid all the important concerns, the essential contributions made by immigrants to Canada’s economic growth and labor market cannot be overlooked.
In the words of Marc Miller at a Parliament Hill press conference:
“The immigration levels will help set the pace of Canada’s economic and population growth while moderating its impact on critical systems. Systems such as infrastructure, housing and healthcare.”
While many are afraid that increasing the number of new permanent residents would put more pressure on available and affordable housing, it doesn’t directly affect housing demand.
