Newcomers good for economy

CIC News
Published: June 1, 2001

Immigrant investors have put $2.5 billion into the Canadian economy in the past five years, according to a study by the federal immigration department.

"They have contributed to the economic development of every Canadian province and territory," says the November 2000 study by research manager Martha Justus.

"They have been responsible for the maintenance and creation of thousands of jobs."

The study says immigrant entrepreneurs created more than 30,000 jobs in Canada between 1995 and 1998.

The report also found skilled immigrants earn more than Canadians only four years after arriving here.

'Improves rapidly'

"At arrival, immigrants earn less than the average Canadian," Justus says. "Their performance improves rapidly through the initial years after arrival."

She says immigrants draw on their international connections and knowledge of foreign markets to create trade opportunities that Canadians would not have exploited.

"Immigrants help increase trade and lower the costs of doing business with international partners," the study says. "They play an instrumental role in increasing trade flows."

Justus says immigrants also make good business managers because they know the customs, languages and business methods of other cultures.

The study also says immigrant children are better adjusted mentally than Canadian kids.

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