VANCOUVER's ECONOMY AND BUSINESS OVERVIEW
With its location on the Pacific Rim
and at the western terminus of Canada's transcontinental highway and rail routes, Vancouver
is one of the nation's largest industrial centres.The Port of Vancouver, Canada's largest
and most diversified, does more than C$75 billion in trade with over 130 different economies annually. Port activities generate $10.5 billion in gross domestic product and $22 billion in
economic output.Vancouver is also the headquarters of forest product and mining companies.
In recent years, Vancouver has become an increasingly important centre for software development, biotechnology and
a vibrant film industry. The city's scenic location makes
it a major tourist destination. Each year over a million people pass through Vancouver on
cruise ship vacations, often bound for Alaska.
Vancouver is amongst the most least affordable cities in which to live in the nation,
with the highest housing prices in Canada. Several 2006 studies rank Vancouver
as having the least affordable housing in Canada, ranking 13th least affordable in the world, up from 15th in 2005.
The city has adopted various strategies to reduce housing costs, including cooperative housing, legalized secondary suites,
increased density and smart growth. (Article Source: Wikipedia) |
