The Saskatoon economy is the fastest growing economy in Canada. There are several elements that have contributed to the growth of the economy of the Saskatoon’s and due to which the GDP has increased by 3.7% in the year 2013. The job market has been increased due to the increase in industries which have attracted both foreign and domestic applicants. The economy of the Saskatoon’s has growing due to the expanding of the retailing and housing sector of the economy (Holden and Muhajarine, 2015). The city Saskatoon has very strong resource development and the growth of the population in the city is also growing which has lead to boost up the housing market. there are many natural resources in the city Saskatoon’s which has led to the growth of the economy such as oil, potash, and uranium.
The major strength of this city is the agricultural sector which helps the economy in boosting as this city has the six different soil zones which produce several feeds and forages, pulse crops, oilseeds and many bowls of cereal crops also (Bruneau, et al., 2013). The majority of the wild rice is produced by this city of Canada. It also provides highest flax and mustard to the people of Canada and it also exports the wheat to the other countries. Not only agricultural sector but the manufacturing sector and automobiles sector of this economy has also increased which leads to higher growth in the economy. AS per the statistics of Canada, Saskatoon’s city is the fastest growing economy and the leading factor of this growth is due to international immigration. The majority of the people who live in this city are younger and they all are working which helps in leading to higher growth of the economy (Connell, et al., 2013). The industry of the commercial and the industrial is also growing which results in leading to economic growth.
There are certain non-economic factors also which also lead to the growth of the economy of the Saskatoon’s such as younger population over there, class, religion, family, society, etc. The education system of Saskatoon’s city is very high as there are only younger people who are well educated and working-class family (Ray, et al., 2012). The economic development of the city was also contributed due to certain factors such as role of the individual, socio-political dependencies, etc. The culture of the Saskatoon’s is very good as the people over there are following the pattern of human activity. There are many entrepreneurs in the city which was creating many jobs for the other and also helps in making the economy fast-growing (Minaker, et al., 2016).
There is a sustainable environment and many resources are available there which come from the environment. So the climatic and environmental of the Saskatoon’s is another factor that was favorable and there are many resources available in the environment causes economic growth to the city (Ketilson, 2014). The religion follow over Saskatoon’s was the Roman Catholic which is generally educated people and their education level is high. Saskatoon’s is generally famous for Hub city so there many other cities nearby to this city which come here as there is transportation system is very advanced and it results in attracting many other people over the countries.
There are many factors as per the case study which has led to sustain the long term economic growth. The major reason behind the long term economic growth is the mining industry of the Saskatoon’s which has experienced significant growth in the city. In the 15 years,’ the major growth has been seen in this sector and this city has also started exporting to many other countries also (Robin, 2013). For sustaining the long term economic growth the city Saskatoon has to put the major focus on the labor market as the city is facing the issues related to that. There are many entrepreneurs in the city but the labor force is quite become challenging. Another factor that leads to the long term growth is the infrastructure of city which is advanced and rapid. The city has good communication and the transportation system which has contributed to the long term economic growth.
This city has enough resources and is also and their natural strength is agriculture so this the major factor for the long term growth of the Saskatoon. The manufacturing sector, transportation, agriculture, etc. are expanding (Lu, et al., 2015). This city is the major manufacturer of the food and beverages so they also export the products to the foreign market. There are many families which are integrating to Canada and most of the people over there are of the median age so the city is full of younger people which are the biggest factor leads to the economic growth for the longer period.
References
Bruneau, J., Dupont, D., & Renzetti, S. (2013). Economic Instruments, Innovation, and Efficient Water Use. Caandian Public Policy, 39(Supplement 2), S11-S22.
Connell, D. J., Bryant, C. R., Caldwell, W. J., Churchyard, A., Cameron, G., Johnston, T., … & Marois, C. (2013). Food sovereignty and agricultural land use planning: The need to integrate public priorities across jurisdictions. Journal of Agriculture, Food Systems, and Community Development, 3(4), 117-124.
Holden, B., & Muhajarine, N. (2015). Quality of Life Research in Saskatoon, Caanda: Fifteen years of co-creating knowledge and action in the community. Engaged Scholar Journal: Community-Engaged Research, Teaching, and Learning, 1(2).
Ketilson, L. H. (2014). Partnering to finance enterprise development in the Aboriginal social economy. Caandian Public Policy, 40(Supplement 1), S39-S49.
Lu, P. H., del Canto, S., Muhajarine, N., Kitchen, P., Newbold, B., Randall, J., … & Wilson, K. (2015). Quality of life of immigrants: Integration experiences among Asian immigrants in Saskatoon. Engaged Scholar Journal: Community-Engaged Research, Teaching, and Learning, 1(2).
Minaker, L. M., Shuh, A., Olstad, D. L., Engler-Stringer, R., Black, J. L., & Mah, C. L. (2016). Retail food environments research in Caanda: A scoping review. Caandian Journal of Public Health, 107(1), eS4-eS13.
Ray, D. M., Lamarche, R. H., & Beaudin, M. (2012). Economic growth and restructuring in Caanda’s heartland and hinterland: From shift?share to multifactor partitioning. The Caandian Geographer/Le Géographe caandien, 56(3), 296-317.
Robin, J. (2013). Saskatchewan biosciences: Building public, policy, and industry support. Industrial Biotechnology, 9(6), 311-313.
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