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Cost of Living

Stalled immigration leads to job, real estate and economic losses during pandemic

The coronavirus pandemic has meant the Canadian border is closed to most travellers since March. And that immigration interruption is having consequences on businesses, real estate and more in communities right across the country.
CBC Radio ·
Calgary real estate agent Hong Wang's work is slowing down with immigration restrictions due to COVID-19. (Falice Chin/CBC)
Cost of Living10:43Stalled immigration leads to job, real estate and economic losses during pandemic

The coronavirus pandemic has meant the Canadian border is closed to many, if not most travellers, since March 18, 2020.  

That means Immigration, Refugees and Citizenship Canada is nowhere close to hitting its 2020 target of 340,000 new permanent residents.

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The immigration interruption is already having consequences on businesses, real estate and more in communities right across the country.

Businesses in many parts of Canada, including these stores pictured in Calgary, are either owned by or target immigrants. (Falice Chin/CBC)

So what is the economic fallout of a shuttered border, both short and long-term?

Cost of Living host Paul Haavardsrud discusses what is happening with Francis Fong, chief Economist with the Chartered Professional Accountants of Canada, while senior producer Falice Chin tours a community in Calgary, Alta. built around new Canadians to find out how the events of 2020 have affected life there.

Click 'Listen' at the top of the page to hear this segment, or download the Cost of Living podcast.

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