“Everything that’s happening, from the rise of Trump to Brexit, is because you have this knowledge-based society that’s doing wonderful things, then a labour-based society that’s falling behind.”
“We must nurture the ability to welcome skilled immigrants."
“Industry must embrace new Canadians in order to be successful and make a lasting and positive impact for years to come."
Canada’s economy in 2041: How we’ll work, live and spend
A few trends that might signal a direction for the future are a tax on carbon and investment in renewable energies. Or the billions of dollars being poured into health care to help address the needs of an aging population. Those investments are being made as governments face headwinds of slow growth and increased foreign competition due to quickening globalization.
Even so, experts are optimistic about the potential for Canadian businesses to tap new opportunities at home and abroad. To predict how that could unfold, we asked five prominent business voices to predict how Canada’s economy might function in 2041.
For Som Seif, president and CEO of Toronto’s Purpose Investments Inc., the next 25 years will see a major shift in portfolio priorities.
He predicts that individual and institutional investors such as pension funds will invest in knowledge-based technology or service firms, likely over traditional blue-chip natural resource and manufacturing companies.
That will result in a continued flow of investment away from traditionally labour intensive, blue collar industries – a move that could ignite socio-economic tensions.
“To stay relevant as a labour force, we need a smarter and more knowledgeable group of individuals,” he says. “This is a massive issue because politically, a lot of our industries are very labour intensive and many voters are labourers.
“Everything that’s happening, from the rise of Trump to Brexit, is because you have this knowledge-based society that’s doing wonderful things, then a labour-based society that’s falling behind.”
High-tech sectors such as pharmaceuticals and biotechnology will provide immense opportunities for Canadian investors as Western countries struggle to meet the needs of their aging populations.
Indeed, in a recent Conference Board report, Mr. Hodgson predicted that in the coming decades most Canadians with postsecondary education will work in high-value service industries such as telecommunications, health care, professional and financial services, scientific research and IT.
In Ms. Stephens’ view, growth for small and medium-sized businesses over the next quarter-century will be propelled by economic diversification away from traditional industries such as manufacturing.
“We must nurture the ability to welcome skilled immigrants,” she says. “Industry must embrace new Canadians in order to be successful and make a lasting and positive impact for years to come."
Canada’s economy in 2041: How we’ll work, live and spend - The Globe and Mail
“We must nurture the ability to welcome skilled immigrants."
“Industry must embrace new Canadians in order to be successful and make a lasting and positive impact for years to come."
Canada’s economy in 2041: How we’ll work, live and spend
A few trends that might signal a direction for the future are a tax on carbon and investment in renewable energies. Or the billions of dollars being poured into health care to help address the needs of an aging population. Those investments are being made as governments face headwinds of slow growth and increased foreign competition due to quickening globalization.
Even so, experts are optimistic about the potential for Canadian businesses to tap new opportunities at home and abroad. To predict how that could unfold, we asked five prominent business voices to predict how Canada’s economy might function in 2041.
For Som Seif, president and CEO of Toronto’s Purpose Investments Inc., the next 25 years will see a major shift in portfolio priorities.
He predicts that individual and institutional investors such as pension funds will invest in knowledge-based technology or service firms, likely over traditional blue-chip natural resource and manufacturing companies.
That will result in a continued flow of investment away from traditionally labour intensive, blue collar industries – a move that could ignite socio-economic tensions.
“To stay relevant as a labour force, we need a smarter and more knowledgeable group of individuals,” he says. “This is a massive issue because politically, a lot of our industries are very labour intensive and many voters are labourers.
“Everything that’s happening, from the rise of Trump to Brexit, is because you have this knowledge-based society that’s doing wonderful things, then a labour-based society that’s falling behind.”
High-tech sectors such as pharmaceuticals and biotechnology will provide immense opportunities for Canadian investors as Western countries struggle to meet the needs of their aging populations.
Indeed, in a recent Conference Board report, Mr. Hodgson predicted that in the coming decades most Canadians with postsecondary education will work in high-value service industries such as telecommunications, health care, professional and financial services, scientific research and IT.
In Ms. Stephens’ view, growth for small and medium-sized businesses over the next quarter-century will be propelled by economic diversification away from traditional industries such as manufacturing.
“We must nurture the ability to welcome skilled immigrants,” she says. “Industry must embrace new Canadians in order to be successful and make a lasting and positive impact for years to come."
Canada’s economy in 2041: How we’ll work, live and spend - The Globe and Mail