Van. Island’s economy recovered during 2015

According to a regional check-up by the Chartered Professional Accountants of B.C.

Vancouver Island’s economy is picking up according to a regional check-up by the Chartered Professional Accountants of B.C.

But the growth is weighted to the southern tip of the Island in Victoria.

“Last year, we saw an increase of 7,284 new residents, with 89 per cent of them settling in the Victoria and Nanaimo areas,” said  Woody Hayes of Hayes Stewart Little & Company.

“Continued population growth and record low interest rates stimulated real estate sales.”

Another bright spot was tourism. “Increased tourism activity also added to the region’s economic growth in 2015. A lower Canadian dollar motivated more Canadians to have ‘staycations’ and also attracted higher numbers of American and international visitors.”

The region’s job growth rate was 1.5 per cent, which was on par with Southwest B.C. and above the provincial growth rate of 1.2 per cent. The labour market added 5,300 jobs in 2015, with the service sector making up the majority of the gains.

 

 

Just Posted

Oyster Bay Microtel solidifies reputation as a Vancouver Island destination

The Microtel is focused on continuing to build their reputation over the summer

Charity the name of the game for Crofton slo-pitch tournament participants

Crofton Fire Department event benefits three recipients

LRCA Concerts in the Park series presents: Cheryl Bear

Bear is an accomplished singer songwriter, and has travelled to over 600 Indigenous communities

Ladysmith bodybuilder wins big at VI Showdown

VI Showdown is an annual event for fitness, figure, physique, bodybuilding, and bikini competition

Federation of Labour supports striking forestry workers

Calls for a “hot edict” on Western Forest Products

‘Bad choices make good stories’: Margaret Trudeau brings her show to Just for Laughs

Trudeau says over the decades she has been suicidal, manic, depressed

Diversity a Canadian strength, Trudeau says of Trump tweets at congresswomen

Trudeau avoided using Trump’s name when he was asked about the president’s Twitter comments

Garneau ‘disappointed’ in airlines’ move against new passenger bill of rights

New rules codified compensation for lost luggage, overbooked flights

Mercury tops out on top of the world: Alert in Nunavut warmer than Victoria

It’s the latest anomaly in what’s been a long, hot summer across the Arctic

Canadian is detained in China on drug allegations: Chinese government

Detention of a Canadian in China comes as part a diplomatic dispute triggered by arrest of Huawei exec Meng Wanzhou

Rare white ravens spotted again in mid-Island

Nature photographer Mike Yip said mysterious birds back in Coombs area

CO’s call off efforts to trap bear who attacked North Island man

Woss man recuperating after incident on remote logging road

Too much time on social media can hurt teens’ mental health: study

Researchers conducted a four-year survey of more than 3,800 adolescents between Grades 7 and 11

Advocates want charges in horse deaths during Calgary Stampede chuckwagon races

Chuckwagon races are a nightly spectacle during the Stampede, a 10-day annual celebration of western life

Most Read