Canada Ranks Top in the World for its Immigration Policies and Business Climate

As per the Anholt-Ipsos Nation Brands Index (NBI) 2021, Canada ranks top in the world for its immigration policies and investment climate.

Earlier, Canada ranked third in the NBI’s overall rankings. However, the Maple Leaf country advanced by two points in 2021 and is now ranked 60th out of 60 countries.

According to Ipsos, the world’s third largest Insights and Analytics company “NBI 2021 is the first time that Canada has moved up to second place. First place rankings on the governance, people, and immigration and investment indices, as well as relatively steady rankings on exports, tourism, and culture contributed to Canada’s record ranking in 2021. The reason for the optimism is a strong rebound in consumer retail sales, which comprise about 55 percent of the country’s GDP, so far this year,”

Immigration: Top priority for Canada

Immigration is a key factor in recovering Canada’s economy, which has been hit the hardest by the pandemic. Currently, the country is recovering back, but there are more labor shortages. To fulfill the labor market demand, Canada is welcoming more immigrants.

The immigration minister’s press secretary Alexander Cohen’s email states that “Roughly three quarters of the way through 2021, we’re on track to meet our goal of welcoming 401,000 new permanent residents this year. Against all odds, we’ve managed to keep our immigration system working in the face of a once-in-a-century pandemic, while ensuring rigorous health protocols are in place and enforced.”

The government of Canada is aiming to welcome more than 1.2 million newcomers between 2021 and 2023 with 401,000 new permanent residents expected this year, 411,000 in 2022 and 421,000 in 2023

Canada is resuming back to its normal state with vaccine passports and successful vaccination rates. All these measures have reduced the requirement for strict public health restrictions.

Canadian Business Owners Optimistic About Recovery

According to Statistics Canada, 75.7 per cent of Canadian business owners now report having a somewhat or very optimistic outlook on the year ahead.

Canadian business owners anticipate high demand for products and services in the third quarter of the year. This will almost certainly result in a price increase for the goods. As a result, foreign investors looking to ride the wave as the Canadian economy recovers can apply for permanent residence in Canada via the country’s Start-Up Visa program

Start-up environment in Canada is the best

The country encourages foreign entrepreneurs to establish new businesses in Canada, particularly during the pandemic. According to Global Start-up Ecosystem Index Report, Canada ranks fourth and boasts many of its cities in the top 50 compared to any other country

“Canada is fortunate to have three cities in the top 50 globally, with the ecosystem of Montreal increasing three spots to rank 46th globally. Only the U.S. and China have more cities in the top 50 than Canada, showing the diversity of the nation’s strong global and regional hubs,” noted the report.