Quote:
Originally Posted by ciudad_del_norte
Yeah, Edmonton is definitely propped up by oil sands development, but in a way that is a bit less volatile than Calgary. Even in this last downturn, its felt like Calgary was hit quite a bit harder. Basically, Calgary's link relies a lot more on expansion and speculation in the oil sands, whereas Edmonton is more linked to keeping things running. As expansion slows/stops but existing operations continue to some extent, the impact between the cities can be quite different.
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To that end though, I feel like Calgary is making a much more comprehensive and successful push towards diversification at this time than Edmonton is. However, I think Edmonton was slightly more economically diverse than Calgary to begin with, so maybe it's just like equal now.
Quote:
Originally Posted by GlassCity
For my own short-term predictions:
- BC will enter a new period of modest growth as prices start to lower and expats get to return because of it. Resource exploration in the north and associated industries will drive more settlement there.
- Alberta will recover. It won't hit the rush of a few years ago, but it'll become more steady, and I hope more stable.
- Saskatchewan will keep growing quickly
- Manitoba will stay more or less the same as a whole. Winnipeg will struggle as more indigenous people move there from remote communities, while making no progress on social development or welfare. Fast growing rural communities like Steinbach and Morden-Winkler will level out.
- Ontario and Quebec will chug along as always.
- Nova Scotia will see an increase in prosperity as Halifax continues to grow in stature, and as the province urbanizes
- New Brunswick and PEI will stay more or less the same
- Newfoundland will continue to struggle with its financial situation and demographics, but ever so slowly come to an improvement. We might see things get worse before they get better, but they will get better.
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This seems fairly plausible. A couple edits I would make are...
BC - A period of significant growth ahead with the exploitation of the northern hydrocarbon deposits, with growth in the Peace Region. I could also see Kitimat/Prince Rupert region seeing significant growth if an LNG terminal goes through. Lower Mainland growth dependent on whether or not the Cascadia megathrust happens, as predicted.
AB - Recovery continues into a period of steady growth in the long term. New oil sands investments will happen (as seen this past week), and with the construction of KXL and TransMountain expansion, the economy will stay dominated by hydrocarbon exploitation in the mid-long term.
SK - Recovery will continue into a period of steady and at times heavy growth. Saskatoon will overtake both Windsor and Victoria in population, and has the potential to be the next metro in the country to surpass 500,000.
MB - Will continue its low-steady growth routine, with continued urbanization of the province into the Winnipeg CMA. Winnipeg will be the next CMA to reach 1,000,000, and with that growth will come a lot of increasing social problems that need to finally be addressed, with both provincial and federal program assistance in conjunction with municipal efforts.
ON - Share of the national population will continue to decline, however it will remain by far the largest province indefinitely. Manufacturing will continue its steady decline especially after the American trade war, forcing a push for further diversification of the province's second tier manufacturing-oriented cities, or an all out depopulation of those regions (a la American rustbelt).
QC - Entering a period of relatively high growth which could last a good clip, regardless, long-term stabilization is likely after the decades of stagnation that have now ended. The separatist movement will continue to shrink and fail as Canada's national identity both at home and on the world stage continues to be better defined. Montreal may overtake Calgary as the secondary business hub of the nation again.
NB - Assuming the country comes to its senses and approves an eastbound pipeline, New Brunswick might see an economic resurgence through the construction of Irving hydrocarbon production/transhipment facilities. If not, the status quo (or worse) will likely be maintained.
PEI - Will continue its relatively steady growth with little to no hickups.
NS - Will continue the ongoing period of urbanization into the Halifax CMA, potentially with Halifax beating Saskatoon to 500,000. The end of the navy shipbuilding contract could cause some economic hardships in the mid-term.
NL - Rough seas ahead, but with stabilization likely in the mid-term. Urbanization will continue into the St. John's metropolitan area.