Beyond the big three
Toronto, Montreal, and Vancouver dominate GDP, but mid-sized centres — Halifax, Kitchener, Saskatoon, Kelowna — are Canada’s hidden growth engines. Combined, they account for 22% of GDP and 30% of population growth since 2020.
| City/Region | GDP Growth 2020–25 | Population Growth | Source |
|---|---|---|---|
| Halifax | +11.2 % | +9.1 % | StatsCan |
| Kitchener-Waterloo | +9.8 % | +8.3 % | CMHC |
| Kelowna | +10.1 % | +6.9 % | PBO |
| Saskatoon | +8.5 % | +5.1 % | PBO |
What drives secondary growth
- Affordable real estate and digital connectivity.
- University-industry clusters in advanced manufacturing and tech.
- Hybrid work enabling knowledge workers outside major metros.
What leaders can do
- Locate satellite hubs. Lower costs while accessing high-skill talent.
- Invest in local partnerships. Collaborate with regional universities and incubators.
- Tailor benefits and wages. Align with regional cost structures.
- Engage civic leaders. Shape local infrastructure priorities.
Arcus Insight: The next wave of Canadian competitiveness is regional. Firms that decentralize intelligently will unlock both resilience and loyalty.