Canada is one of the most developed countries in the world. It is considered to be the 11th largest economy in the world. With its diverse base of economic sources, the country is set to grow exponentially in the next five years. Many studies have shown that Canada’s massive growth is the result of the country’s high immigrant population.
Canada has a very fair immigration policy that allows the entry of immigrants into the country based on merit and work experience. If you are capable of uplifting Canada’s economy in any way, you are sure to have your place in the country.
These are some of the reasons for Canada’s strong position in the list of developed countries in the world.
1. Supplier of natural resources
Canada has an abundance of natural resources. Companies in Canada and the Canadian Government make the most use of all the natural resources to boost its economy. It has been able to sustain its energy needs from these resources and also export it to other countries. This is a major source of revenue for the country. There is always a dire need for oil, gas, and coal in many countries to run their industries. As a supplier country, Canada has been able to meet these needs of the world market successfully.
2. Strong economic ties with the US
Canada has a strong economic link with the US. There have been multiple million-dollar contracts between the two nations in the last five years. Such robust financial status and the growing proximity of the country with its neighbor has made it even stronger. If reports are to be believed, there is a lot more happening between the two nations in terms of economic upliftment.
The favorable exchange rate and the opportunity of manufacturing in Canada have made it a very dear ally of the US. This is one of the biggest reasons for the economic prosperity of the two nations.
3. High level of education
Canada spends a major portion of its budget on education. Being able to provide quality education is one of the fortes of Canada. The country has some of the most reputed and well-established colleges and universities. These educational institutions attract international students to come to Canada for higher studies. There are special immigration programs for those students who are interested in coming to Canada. Click here to learn about immigration programs in Canada.
With a strong economy, world-class educational institutions and a high standard of living, Canada has everything that qualifies it for being a developed nation.
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