For permanent residents, Ottawa has a target of 485,000 new immigrants, rising to 500,000 in both 2025 and 2026. warnings from economists about the housing market becoming even less affordable
“That creates a generational structural opportunity for delivering travel to those new entrants, for business, for pleasure, for going back home, visiting family and friends,” Air Canada chief financial officer John Di Bert told an audience at a Bank of America Securities conference earlier this month. “We have about half a million new Canadian entrants per year, on a 40-million citizen country. That’s not an immaterial number.
“What you want to do is focus on where immigrants spend their money,” he added. “They’re not going to be flying anywhere. They’re not going to be dining out at fancy restaurants. They won’t be going to the movies. Discretionary purchases are not going to come until later on, when they develop a recurring revenue stream."Assuming new arrivals to Canada are more likely to rent than own property, he adds the Canadian Apartment Properties Real Estate Investment Trust on a budget.
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