Digital Economy in Canada Is Creating New Possibilities for IT Specialists

Updated on Friday 16th February 2018

Canada is one of the most advanced countries in the world from a technological point of view and one of the pioneers of the global digital economy. With the changes of in the economy, the labor market also went to various changes as the demand for IT specialists has increased in comparison with workers in other fields, according to a study carried out by the Information and Communications Technology Council (ICTC). Our company formation consultants in Canada can help foreign investors who want to start IT companies here.

What are the emerging industries of the Canadian digital economy?

From a technological point of view, by 2021, the Canadian economy will be influenced by blockchain technology, virtual and augmented reality, 5G mobile networks and 3D printing which will also require more specialists in these fields, more than 200,000 to be more specific.

The demand of high-tech specialists is also given by the fact that what once were slow-growing industries are now the fastest growing economic sectors which are shaping up the world. Moreover, the technology is conquering traditional industries, such as transportation, retail, financial services, manufacturing and healthcare.

If you are interested in starting a business in Canada in one of the industries mentioned above, our local advisors can guide you.

New incentives for helping companies integrate into the digital economy

The government has started considering the introduction of short and long-term incentives for companies in need of help of specialists or other assistance in order to keep up with the latest technological development.

The first initiative is the Global Skills Strategy which enables Canadian companies to hire specialists from other countries in maximum 2 weeks. Education will also benefit from governmental assistance worth 50 million CAD which will be destined in programs meant to develop the skills of children and students. On this background, the number of companies registered in various cities across Canada which offer online or traditional courses for those interested in acquiring digital skills has soared last year.

If you want to set up a company in the IT industry, please feel free to contact our Canadian company registration representatives.