ECONOMY

Strong and vibrant communities have diverse local economies and a wide variety of options for fulfilling, secure, and well-paid work.

Fostering a Food Community and Network

Economy

Fostering a Food Community and Network

“We want to reinforce connections between our work of local food aggregation to support farmers and local food businesses to create a really cohesive system of local food and skills support,” explains Laura Gair, Director of Food Security and Resource Development with the Capital Region Food and Agriculture Initiatives Roundtable (CRFAIR). 

Kitchen Connect Food Hub and Skills Training opened in Fall 2023 at The Mustard Seed Food Security Distribution Centre. Funded by the Province of BC’s Provincial Food Security Initiative through the Victoria Foundation, and VIATEC, and an initiative of the Victoria Community Food Hub Society, the Kitchen Connect Food Hub offers an affordable professional kitchen for rent and provides a space for training and work opportunities. At the time of writing, 16 small-scale food makers, including Big Boss Tacos and Soupa Kitchen, were using the new food processing and packaging facility. The hub fosters a network and contributes to a vibrant food community by connecting to local farmers, producers, and various non-profits and charities. Plus, it increases access to affordable and appropriate food. “We are hearing now more people visit food banks and access emergency food than ever before,” shares Gair. 

SPONSORED BY
Jarislowsky Fraser Global Investment Management

Vital signs citizen survey grade

C+

Last year's grade was C+

ECONOMY

Vital signs citizen survey grade

C+
Sustainable Development Targets

SUSTAINABLE DEVELOPMENT TARGETS

UNEMPLOYMENT RATE

The unemployment rate among people, aged 15 and over, in 2023

0%

GREATER VICTORIA
Similar to 2022

0%

BRITISH COLUMBIA

0%

CANADA


The unemployment rate among women in the region in 2023 was 3%, lower than the rate for men (4%).

% Population (15 years +) who are unemployed

20192020202120222023
Canada5.79.77.55.35.4
BC4.89.16.64.65.2
Victoria CMA3.57.84.93.83.7

SOURCE: STATISTICS CANADA 

EMPLOYMENT RATE

The employment rate among people, aged 15 and over, in 2023

0%

GREATER VICTORIA
ON PAR WITH 2022

0%

BRITISH COLUMBIA

0%

CANADA

The employment rate among women in the region in 2023 was 59%, lower than the rate for men (64%).

% Population (15 years +) who are employed

20192020202120222023
Canada62.358.160.562.062.1
BC63.158.461.262.161.8
Victoria CMA61.858.960.260.861.4

SOURCE: STATISTICS CANADA 

SUSTAINABLE DEVELOPMENT TARGETS

8.3: Support decent job creation, entrepreneurship, creativity and innovation, and growth of micro-, small- and medium-sized enterprises 

8.5: Achieve full and productive employment and decent work for everyone 

8.9: Promote sustainable tourism that creates jobs and promotes local culture and products

9.1: Develop sustainable, resilient, and inclusive infrastructures

AIR AND FERRY PASSENGER VOLUME

BC Ferries reported increases in 2023 compared to 2022

<span class="text-teal count-up">10%</span>PASSENGER TRAFFIC

10%PASSENGER TRAFFIC

<span class="text-teal count-up">1%</span>VEHICLE TRAFFIC

1%VEHICLE TRAFFIC

<span class="text-teal count-up">30%</span>BUS TRAFFIC Tsawwassen – Swartz Bay

30%BUS TRAFFIC Tsawwassen – Swartz Bay

Victoria International Airport reported increases in 2023 compared to 2022

<span class="text-teal count-up">17%</span>FLIGHT PASSENGER VOLUME

17%FLIGHT PASSENGER VOLUME

<span class="text-teal count-up">1.7M</span>TOTAL PASSENGERS UP FROM 1.5M

1.7MTOTAL PASSENGERS UP FROM 1.5M

SOURCE: CHEMISTRY CONSULTING GROUP

HOTEL ROOMS

Greater Victoria average rates in 2023 compared to 2022

70% OCCUPANCY RATE
UP FROM 69%

$247 DAILY ROOM RATE
UP FROM $236

$173 REVENUE PER AVAILABLE ROOM
UP FROM $163

The Victoria Conference Centre recorded a nearly 4% decrease in delegate days in 2023, with 84,000 days compared to 87,300 in 2022.

SOURCE: CHEMISTRY CONSULTING GROUP

COMMUNITY IN FOCUS

ECONOMIC IMPACT OF REGION’S TECH SECTOR

Total economic impact of the technology sector in Greater Victoria

$7.9billion in 2023
UP 51% FROM $5.2 BILLION IN 2017

2 BILLION INDIRECT IMPACT (i.e., economic activity generated by businesses that supply goods and services to tech firms)

5.9 BILLION DIRECT IMPACT (i.e., revenues of tech firms and self-employment income from tech firms)

In 2023, an estimated 20,000 employees were directly employed in the region’s tech sector, up from 16,775 in 2017. Of this total, tech firms employed 17,900 individuals and 2,110 were self-employed within the sector.

SOURCE: VICTORIA INNOVATION, ADVANCED TECHNOLOGY AND ENTREPRENEURSHIP COUNCIL (VIATEC)