If you, like many people, dream of living in a country that ranked #1 on the happiness index and has quality public healthcare, look no further than the North American country, Canada.
But dreaming isn’t the same as doing, and getting there, while not too complicated, requires careful planning. It’s always easier to emigrate or study abroad when you have a clear plan of what career you want. The best way to figure out what you want and how to get there is to look at dominant and growing sectors in Canada.
MyPath has laid this all out for you, right here, to make your decision making and planning a little easier.
Canada is divided into three types of industries: services, manufacturing and natural resources industries. Within these three main types, there are many different sectors and millions of jobs.
Currently, over 75% of Canada’s population is employed within the services industry, made up of transportation, banking, healthcare, communications, retail services, construction, education, tourism and government.
By revenue, Canada’s commercial banking is the biggest sector, contributing CAD 240.1 billion to the country’s gross domestic product (GDP). So it’s not a bad idea to consider a career in FinTech or the like – especially since the banking industry is being disrupted (which we’ll get into later).
The manufacturing industry in Canada is focused predominantly on making products for exports. These products range from paper and food to automobiles and aerospace technology. The entire manufacturing industry accounts CAD 174 billion and makes up 10% of the GDP. Currently, the industry employs 1.7 million people and is almost as fast as the tech it produces.
So if the idea of inventing or making things really excites you, consider a career in engineering or technology.
3. Natural resources
This industry has played a vital role in developing Canada’s economy. Consisting of forestry, fishing, agriculture, mining and energy, many of Canada’s other sectors still heavily rely on the natural resources industries. The industry contributes 16.9% to the Canada’s GDP and employs 1.9 million people.
Currently the 8th largest exporter of agricultural products with the 3rd largest proven crude oil reserves, it’s pretty clear why the industry is so important to the country’s economy. Canada has an abundance of natural resources, with the top 10 being; water, oil, forests, precious metals (gold, silver, copper), coal, fish, uranium, diamonds, natural gas, and rivers (for the generation of hydroelectricity).
From the list above, it would not be difficult to ascertain that Canada is never short of electricity. But that doesn’t mean they aren’t trying to move away from gas and oil into green energy. Clean technologies, clean energy, and environmental goods and services accounted for $66B (3.2%) of Canada’s nominal GDP in 2018.
Fastest growing sectors
- Precious metals and mining
- Primary care
- Software development
- E-sports and video gaming
- Renewable energy
- Social media
Canadian citizens, businesses and governments, have been extremely open to crypto. In most other countries, there is always an initial resistance to technology change and adoption, and legislation and ways of doing business are generally slow.
However, in Canada, KFC stores became one of the first physical stores to accept payment in Bitcoin. This crucial step has catapulted crypto and FinTech into being one of the fastest-growing sectors in Canada. This means that businesses are having to adapt, and fast, opening up career opportunities in business technology such as cyber security, coding and FinTech.
These kinds of careers link to #4 (eCommerce), #6 (Software development) and #10 (Cybersecurity), on the list. Technological sectors are dominating, which means more growth, more impact, and higher pay.
5. Precious metals and mining
Given that the natural resources industry is one of Canada’s more dominant industries, it’s no surprise that metals and mining form part of the fast-growing sectors list. While mining may seem like one of the most archaic professions, R&D spend is being pumped into the sector to make it more clean, green, and safe. This means technological innovations are occurring in this industry every day – making it exciting and cutting edge.
While more and more countries are legalising the use of cannabis, Canada was actually a trailblazer in this area, being the 2nd country in the world to do so. While the commercialisation of cannabis has been down a bumpy road in the country, many predict that 7.5 million people will use cannabis in the next five years. This makes it a hot sector to get into. Growing the sector further will need agricultural savants and marketing wizards, and business management fiends.
7. Primary care
As a result of a public health system that actually works, Canadians are living longer – creating an opportunity for you. It is expected that by 2030, over 23% (or 9.5 million people) of Canada’s population will be over the age of 65. As the population ages, so too does the demand for care workers, and this demand will last in the long-term, making this a perfect career for people who have qualifications in and experience with dementia and end of life care.