90% of Albertans feel they have an opportunity to live a good life; and economic performance, quality of life, and equity measures are all generally on the rise
CALGARY, ALBERTA—Since the pandemic, life in Alberta has gotten better for most people on average. And that’s not just a matter of opinion—Alberta’s inaugural Scorecard on quality of life, economic expansion, and long-term sustainability bears this out.
“The headline for us is that an overwhelming majority of Albertans—90%—feel they have the opportunity to live a good life here in the province. That is, quite frankly, a much better number than we were expecting to see,” says Adam Legge, President of the Business Council of Alberta. “It’s reflective of the metrics we’re seeing across a host of other factors including quality of life, workforce, innovation, infrastructure, environment, and fiscal sustainability. But there is still much more to do to ensure all Albertans can share in that good life.”
The Scorecard measures 23 individual measures, within six “prosperity pillars”, to provide an overview of overall economic and social prosperity in Alberta. In this scorecard report, 17 measures improved, four were flat, and two have worsened slightly.
2023 SCORECARD HIGHLIGHTS
Areas of Progress:
- Alberta’s GDP per capita increased by 4%, driven by an increase in export value, an uptick in business investment, and a resurgence in consumer spending, among others.
- Alberta is seen as a place of opportunity for new residents from across the country and the globe. Net immigration from other countries is up 117%.
- Alberta has made major strides in attracting venture capital with total dollars invested up by 30%, nearly doubling Alberta’s share of national investment (+92%).
Areas of Opportunity:
- Post-secondary education attainment saw a very slight decline (-1% pt), primarily due to historic levels of in-migration. Despite this, the majority of the population (70%) has some form of post-secondary education.
- Total GHG emissions increased slightly (+1%). This increase is primarily due to a re-opened economy post-COVID. The good news is Alberta’s emissions curve is starting to bend and emissions intensity continues to decline—2021 emissions were 8.9% below their 2015 peak.
2023 SCORECARD HIGHLIGHTS
Areas of Progress:
- Alberta’s GDP per capita increased by 4%, driven by an increase in export value, an uptick in business investment, and a resurgence in consumer spending, among others.
- Alberta is seen as a place of opportunity for new residents from across the country and the globe. Net immigration from other countries is up 117%.
- Alberta has made major strides in attracting venture capital with total dollars invested up by 30%, nearly doubling Alberta’s share of national investment (+92%).
Areas of Opportunity:
- Post-secondary education attainment saw a very slight decline (-1% pt), primarily due to historic levels of in-migration. Despite this, the majority of the population (70%) has some form of post-secondary education.
- Total GHG emissions increased slightly (+1%). This increase is primarily due to a re-opened economy post-COVID. The good news is Alberta’s emissions curve is starting to bend and emissions intensity continues to decline—2021 emissions were 8.9% below their 2015 peak.
“Normally with these sorts of metrics, we say that movement is often slow in any given year and long-term trends matter,” says Legge. “While that remains true, it is quite remarkable to see a scorecard like this with broad-based material improvement over a short timeframe.”
Developed as part of Define the Decade, the 10-year economic strategy for Alberta released in 2022, this scorecard is part of the Business Council of Alberta’s commitment to producing annual reports on Alberta’s progress.
“The proof of Alberta’s improving overall performance is in the data, and is reflective of the high quality of life, improved business conditions, and growing public and private sector investment happening for the future,” says Legge. “While there remain areas of improvement, and challenges associated with interest rates and housing affordability, Alberta is most certainly one of the best places to be in the world.”
The full scorecard can be found at https://definethedecade.com/#scorecard.
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About the Business Council of Alberta. The Business Council of Alberta is a non-partisan, for-purpose organization dedicated to building a better Alberta within a more dynamic Canada. Composed of the chief executives and leading entrepreneurs of the province’s largest enterprises, Council members are proud to represent the majority of Alberta’s private sector investment, job creation, exports, and research and development. The Council is committed to working with leaders and stakeholders across Alberta and Canada in proposing bold and innovative public policy solutions and initiatives that will make life better for Albertans.