Where Everyone Participates in a Strong & Diverse Economy
Calgary -- Canada's energy capital, investing in not only oil and gas, but wind, solar, and other renewable energy sources. Also diversifying and becoming an innovative leader in many fields, such as agriculture, aerospace, creatives, life sciences, and technology.
Past & Current Economic Strategy
Different Canadian cities implement different economic strategies to reach their goals. Calgary has had several plans to grow their GDP contributions, with the first major plan being put in action during the great recession in 2008 called 'Think big. Act bold. Create great'. This plan led to one of the peaks of the longest and largest cycles of growth in Calgary.
​
Later on in 2014, this plan was updated and renamed 'Building on our Energy, an Economic Strategy for Calgary', which focused on diversification, shared prosperity, and strong community.
​
In 2019, Calgary's economic strategy was once again updated to reflect its needs, now focusing on data driven and stakeholder led decisions.
​
Currently, the economic outlook for 2023 to 2028 is good, stating that the energy sector in Calgary and surrounding regions will have strong exports, generating wealth. In addition, immigration rates for Calgary are at an all time high from 2022 to 2023, contributing to a competitive job market.
Recent Growth in Gross Domestic Products
With the implementation of these resilient economic strategies, Calgary continues to have a steady GDP (Gross Domestic Product) that increases. GDP is a measurement of all the products and services offered for sale, being one of the best indicators of how a places economy is doing.
From 1996 to 2018, the City's GDP has nearly doubled over the last two decades, outperforming the average of both their province and country.
For 2024, Calgary is expected to see a 3.7% growth in GDP, comparatively bigger than Canada's overall projected growth of 0.8%.
In comparison to other major cities in Canada for the year of 2017, the GDP of Calgary surpassed them by over 37%.
​
Overall, the strategies that have been used by the City have been successful, and with the investment in many different sectors will help further boost the overall well-being of the City.
Economic Diversity
Calgary may be Canada's epicentre of the oil and gas industry, however, it I also successful in other industries. The main sectors of the City's economic contributors are: Aerospace, Agriculture, Creative Industries, Energy and Environment, Financial Services, Digital Media and Entertainment, Life Sciences, Technology, and finally, Transportation and Logistics.
​
Learn more about how these growing sectors contribute to Calgarys overall economic growth.
Explore More
Discover how we are a city where everyone participates in a strong, diverse economy. We remove barriers for business success, enabling businesses to start, grow and invest in our city. We are an incredible destination and a great place to live, work, grow and raise a family.
Calgary removes barriers for business success
Calgary is a great place to work, grow, live, and raise a family
Our documentation of this project