Prairie Provinces Now Lead Canada's Economic Growth
- Clearview Insider
- May 2
- 1 min read
Alberta and its Prairie peers were the top contributors to Canada’s economic growth in 2024, marking a sharp shift from previous years dominated by Ontario. Alberta alone accounted for more than one-quarter of national GDP gains, led by a 3.7% surge in oil and gas extraction and growing strength in services sectors tied to population growth.
This performance underscores the Prairie region’s rising prominence in national investment conversations, including for commercial real estate. In Calgary, sustained job creation and strong migration trends continue to support activity across industrial, office, and multifamily asset classes. With Ontario and B.C. now constrained by interest-rate pressures and declining construction, Alberta’s diversified growth story is a key tailwind for local CRE momentum.
Reference: RBC Thought Leadership, “Leadership shuffle: Prairie provinces powered Canada’s growth in 2024,” April 2025.\
Connect with ClearView: Curious how Alberta’s macroeconomic trends can inform your real estate strategy? Contact us at info@cvpartners.ca — we’re here to help you make smarter, data-backed investment decisions.