Optimism is high about a sharp economic recovery in Canada once the global pandemic is over
According to the Economic Club of Canada, an unprecedented increase in household wealth last year is a key catalyst for significant growth in 2021. Large income support payments, stock market gains, and an upsurge in home prices helped Canadians become significantly wealthier. According to Statistics Canada, household net worth increased by over $469 billion in the first half of the pandemic. The dedicated team of professionals at Canadian Visa Expert is committed to helping you obtain a visa to live and work in Canada.
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A chief economist at the National Bank of Canada Montreal said there is no precedent for a positive wealth effect during a crisis like this. The government’s assistance in helping sustain the pliancy of the Canadian economy is crucial. In the final nine months of the year, household wealth is seen surging to an above five percent annualized measure. The Canadian government, under the directions of Prime Minister Justin Trudeau, acted promptly to put into action credit and income support programs to keep households and businesses afloat. As a result of the actions, average disposable income saw a 12 percent increase during the global pandemic.
Living in a country that cares for its citizens and wants the best for everyone is priceless. Contact Canadian Visa Expert to begin the process to live and work in Canada.