As one of the world’s wealthiest nations, there are several reasons why Canada is a smart place to invest in today. The country boasts one of the highest levels of economic freedom in the world, is experiencing an increase in job creation and employment, and has a heavily-regulated banking system that is strategic, capitalized, and streamlined in nature. These key elements have allowed Canada to survive and prosper during the financial crisis that other countries are faced with today.
Canada has the 10th largest economy in the world – one that is extremely diversified and balanced. Since Q1 of 2012, Canada has increased its Gross Domestic Product (GDP) by .50 percent over the previous quarter. Canada’s GDP has averaged a growth rate of 0.83 percent from 1961 through 2012. The country’s value of physical capital per worker ranks 14th in the world, and Canada was rated by Forbes magazine as the best country to grow a business and create jobs. Since 2007, the average Canadian salary has increased by 10 to 15 percent, and in the past 12 months, Canada has added 238,000 jobs. The country’s employment rate continues to grow, and is forecasted to increase 2.0 percent in 2013.
For four consecutive years, The Economic Forum has rated Canada’s banking system as one of the soundest in the world. Canada’s capitalized banking system continues to remain healthy because of its diversified, balanced, and streamlined nature. From January 2007 until December 2011, the Canadian dollar increased in value 15 percent versus the US dollar, 11 percent versus the Euro, and 40 percent versus the British pound. The Canadian dollar accounts for 5.3% of the world’s daily share, and is the 7th most traded currency in the world. From a leveraging standpoint, Canadian banks are at 18 to 1, US banks are at 26 to 1, and European banks are at 61 to 1. In the past 15 years, as US and European banks loosened their financial and lending policies, Canada has made sure to adhere to its own original banking guidelines, allowing for continuous stability and prosperity.