Spotlight on Indigenous Economic Development
Friday, March 22, 2019
Growing a $100 Billion Aboriginal Economy
The Indigenous economy in Canada was estimated at $32 billion in 2016 – and its growth has been outpacing that of the national economy since then. With the Aboriginal youth population set to grow at 4 times the national average in the coming years, the Indigenous economy represents large untapped potential for the growth of Canada’s future economy. But persistent challenges remain: lack of access to capital, limited ownership positions in major projects on Aboriginal territories, a skills gap for Aboriginal entrepreneurs and workforce, and others. But the potential and collective will to grow the Indigenous economy to $100 billion exists – and the economic impact for Canadians on and off reserve is significant.
This Spotlight explores the forces impacting the growth of the Indigenous economy and the changes – in practice and in mindset – that must be implemented to make the $100 billion Indigenous economy a reality.