July 24, 2024 5:13 AM

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Canada’s 50-Year Population Projections Highlight Urgent Need for Skilled Immigration

Canada’s latest population projections underscore the critical role of immigration in shaping the country’s future. Statistics Canada’s report, released on June 24, 2024, anticipates that Canada’s population could swell to 63 million by 2073. 

The current population of 40.1 million is expected to grow significantly over the next five decades, potentially reaching between 47.1 million and 87.2 million.

The report highlights that this growth will largely depend on immigration. Between 2022 and 2023, Canada saw a record 1.13 million new immigrants, nearly doubling the number from the previous year. This influx has been a major driver of population growth, with natural increase playing a minor role.

The projections reveal that the proportion of older adults will increase markedly. 

By 2073, those aged 65 and older are expected to make up between 21.9 percent and 32.3 percent of the population, up from 18.9 percent in 2023. The number of individuals aged 85 and older will also surge, potentially reaching up to 4.3 million by 2073.

Regional population trends show a continuing decline in the eastern provinces, while growth is anticipated in Saskatchewan, Alberta, and British Columbia. Ontario and Quebec are expected to remain the most populous provinces.

The increasing proportion of older adults will challenge the labor market and economic growth, highlighting the need for a steady influx of young, skilled immigrants. 

The findings suggest that strategic immigration policies will be essential for balancing demographic shifts and supporting long-term economic stability.

The projections offer valuable insights for policymakers, emphasizing the need for effective immigration strategies, enhanced healthcare infrastructure, and regional development initiatives to manage future demographic changes and support a sustainable future for Canada.

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