Central Saanich was named by BCBusiness magazine as the most economically resilient community in the province; Sidney came in second and Langford was ranked third.
The list was based on criteria such as the unemployment rate, housing growth and economic diversity, while also considering aspects of social and environmental resiliency. It reads: "Taking a broader view of economic resilience than in pre-COVID years, our ranking considers factors such as housing growth, unemployment and economic diversity, while also taking into account aspects of social and environmental resiliency." Data from Environics Analytics helped to assess the performance of 50 of the province’s largest communities against 10 economic indicators. For housing starts, Central Saanich ranked #1 at 197 units per 10,000 population; the unemployment rate was low (3.5) and rental vacancy was amongst the highest rated in the findings.
"Central Saanich has showcased remarkable resilience, maintaining its presence in the top 10 for an impressive five consecutive years. Its continued success has most recently been aided by solid job creation, low unemployment and the most secure household finances in the province. These have been supported by a healthy construction industry in Central Saanich, an active real estate market in Sidney and, most importantly (according to locals), the area’s desirable quality of life."
See the article at https://www.bcbusiness.ca/industries/general/b-c-s-most-economically-resilient-cities-in-2024/