Last week, Statistics Canada released its annual report on Canada’s population growth. The big news: Waterloo is the country’s fastest growing community.
The top five fastest growing communities include:
1. Waterloo, Ontario (listed as Kitchener-Cambridge-Waterloo)
2. London, Ontario
3. Ottawa-Gatineau, Ontario
4. Halifax, Nova Scotia
5. Saskatoon, Saskatchewan
What makes Waterloo the fastest growing community in Canada?
There are several factors driving Waterloo’s growth: the economy is booming, we’re home to three world-class post-secondary institutions and the community is pulling people away from high-cost jurisdictions with its affordable cost-of-living.
Last year, we reported that Waterloo is in the midst of a multi-billion dollar development boom, including $1 billion in the Kitchener core and another $1 billion across the region. Major expansion announcements from Google, Toyota and SAP, and the news that Canada’s three fastest-growing tech companies are located here, reflects the strength and growth of the skilled local workforce.
We’re also home to three major post-secondary institutions – the University of Waterloo, Wilfrid Laurier University and Conestoga College – and they continue to grow each year. The University of Waterloo itself surpassed 40,000 students in 2019 and their enrollment numbers continue to increase as demand for tech talent grows.
Finally, the arrival of many new migrants and immigrants has helped drive local population growth. It’s reported that in 2019 alone about 8,000 people moved from Toronto to Waterloo Region. Waterloo’s affordable lifestyle, combined with the booming local economy, is a main reason why people opt to live in mid-size cities rather than larger, more expensive communities like Toronto or Vancouver.
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