Immigration is a major factor in Alberta’s record-breaking population growth. New data issued by the Office of Statistics and Information of the government of Alberta demonstrates that interprovincial and international immigration has contributed to the province’s population growth at an exponential rate. The province saw its largest year-over-year growth rate among all Canadian provinces between April 2023 and April 24, rising by 204,677 or 4.41%. In contrast, Canada’s overall growth rate for the same time period was 3.20 percent annually.
According to the new data, Alberta’s population growth rate increased significantly from 3.67% in 2022–2023 to 4.41% in 2023–2024. Since 1981, the province has not experienced growth this high on an annual basis.
One of the main causes of Alberta’s population growth is migration abroad. 32,893 new people, both temporary and permanent, arrived in Alberta as a result of foreign migration in the first quarter of 2024.
Furthermore, interprovincial migration—the movement of people from other Canadian provinces to Alberta—is generating significant net benefits for the province. Between July 1, 2022, and July 1, 2023, Alberta outperformed British Columbia as the province with the most net gains from interprovincial migration, according to Statistics Canada. During this time, Alberta’s four largest cities all saw substantial expansion.
On the other hand, during the same 12-month period, interprovincial migration resulted in a net loss for all of Ontario’s main urban areas.
What sets Alberta apart as a top choice for newcomers seeking to settle in Canada?
The Canada Mortgage and Housing Corporation’s 2024 Housing Market Outlook, which projects an increasing trend of individuals relocating to the prairie provinces, including Alberta, is consistent with statistics from Statistics Canada. The better economic climate and more accessible housing options in these areas are mostly to blame for this change. The prairie provinces provide a more appealing environment for those looking to move than British Columbia and Ontario do since the latter two provinces’ advantages aren’t as strong.
More affordable housing
Alberta still has more cheap real estate than British Columbia and Ontario, even with the recent increases in prices.
The Canadian Real Estate Association (CREA) reports that in the second quarter of 2024, the median price of a single-detached house in Calgary was $710,000, while the prices of apartments and townhouses were $330,000 and $454,000, respectively. The median detached house price in Edmonton, the second-largest metropolitan area in Alberta, was $485,000. Townhouses and apartments, on the other hand, ranged in price from $294,500 to $188,000.
Alberta’s lack of a land transfer tax further enhances its affordability for out-of-province buyers.
In contrast, the median sale price of a detached home in Toronto, Ontario, during the same period was $1,300,000, with condominium units and semi-detached homes costing $640,000 and $1,041,000, respectively.
Growing economy and evolving job market
The province of Alberta has updated its economic forecast for 2024, predicting real GDP growth of 3.3%, up 0.4 percentage points from earlier projections.
The Business Council of Alberta’s research indicates that the labor market in the province is changing and is becoming less dependent on the oil and gas industry. The need for jobs has increased faster than population growth in industries like trades and healthcare. On the other hand, there is a stable need for jobs in the energy sector.
Additionally, the work market is changing so that technical competencies like data analysis and business intelligence, college degrees, and apprenticeship training are given priority. The need for technical abilities has decreased dramatically, while healthcare and tech-related skills are becoming more and more in-demand.
Alberta has created a new Provincial Nominee Program (PNP) stream specifically for tourism and hospitality in an effort to draw in skilled labor. In order to recruit medical professionals, the government is also actively seeking targeted Express Entry draws. Additionally, the Alberta Advantage Immigration Program (AAIP) Dedicated Healthcare Pathway has been put into place to help qualified healthcare applicants obtain permanent residency.
