What newcomers can expect in Canada’s evolving economy

As Canada enters 2025, the economy presents both opportunities and hurdles for immigrants, who are essential to its workforce yet often encounter barriers that make the path to success complex. Take Teecee Okore for instance. A seasoned marketing consultant from Nigeria, she moved to Canada in 2024 with high hopes of upskilling, expanding her network and potentially starting her own business. However, like many newcomers, Okore has encountered obstacles “I feel the policies designed for immigrants don’t provide much initial support.” Yet, she remains optimistic, having enrolled in a financial management program at the International Business University in Toronto, which she believes is helping her adapt to Canadian business practices. “The course is opening new doors for me,” she shares.

Economic landscape and key sectors for growth

Across the country, newcomers with exceptional skills face challenges similar to Okore’s as they try to establish themselves in Canada’s evolving economy. Skilled immigrants continue to contend with higher living costs, housing shortages, regional economic disparities and stiff job market competition. Gervan Fearon, economist and George Brown College president, emphasizes that while immigration continues to be a critical driver of Canada’s economic success, navigating this complex landscape requires a strategic, proactive approach. “Canada’s economic growth trajectory in 2025 is positive,” says Fearon. “It is expected to grow at a pace of roughly 1.5 per cent in 2025 as it continues to recover from the shadows of the pandemic.” Fearon’s insights align with BMO Capital Markets’ 2025 Economic Outlook, which says Canada will experience “stable but uneven” growth, with projected GDP growth between 1.5 per cent and 2 per cent annually.