There has been a dramatic increase in population in the Greater Toronto Area, but that growth may be levelling out soon. According to Stat Can data from the year 2022, the population of the Toronto CMA was soaring. When we look at the data more closely, we see that immigration was the sole cause of the expansion. The unprecedented migration away from the area is hidden by the tendency of artificial expansion. Although the basic statistics look promising, investors may be looking elsewhere for higher returns.
Greater Toronto’s Population Added Over 138,000 People In 2022
Growth in the population of Greater Toronto mirrors that of the rest of Canada. In 2022, the population of the Toronto CMA is projected to reach 6.69 million, up 2.1% (or +138,240) from the previous year. Even if only half of that expansion had occurred in the City of Toronto, it would have been a remarkable figure.
The majority of Toronto's growing population is the result of immigrants
As Canada works to catch up on its backlog, immigration is the main factor driving this development. Increased by 103% (+80,830), the number of immigrants to Greater Toronto in 2022 was 159,670. The rate of growth and the sheer number of people are two key indicators.
There has been a surge of immigrants to the Greater Toronto Area
The tendency of the region’s immigrant population doubling was odd. As was indicated earlier, due to a backlog, last year saw a multi-year low in immigration. There is some base impact in the expansion, but the total is still enormous.
The second possible observation is that the rate of immigration was higher than the rate of overall population growth. This is not because of a death toll; on the contrary, people in Toronto are packing up and leaving at an unprecedented rate.
A Total of 78,000 People Left Greater Toronto for Other Parts of Ontario.
The number of persons that moved out of the Greater Toronto Area and settled in another Ontario region is the net interprovincial migration. After a net outflow of 73,500 persons in 2021, the number jumped to 78,100 in 2022. More people left the area for other parts of Ontario, hence the population decreased. in the tens of thousands, which is the highest number in at least a generation.
A dramatic increase in the number of people leaving the Greater Toronto Area
Do you remember when people from all around Canada would congregate in Toronto? No longer is there a positive net migration across provinces; in fact, it has become strongly negative. People who move from outside the Greater Toronto Area to the GTA are counted as INTER. More than twice as many people left in 2022 as had left the year before, totaling 21,400. Until the low-rate bubble took off in 2019, the region actually experienced a positive flow.
One-quarter or more of Canadians who have emigrated have lived in Toronto
Leaving Canada permanently, or emigrating, is a big decision. The Greater Toronto Area, however, contributed thousands of people who were up to the challenge. The number of persons leaving the Toronto CMA to live elsewhere rose to 12,625 in 2016, a 38.1% increase from the year before. About a quarter of all Canadian emigration was concentrated in Greater Toronto.
The number of people leaving the Greater Toronto Area has increased to its highest point since 2017. Still, it’s important to keep in mind that application delays exist in other nations as well. You shouldn’t be too shocked if the number of people leaving your country keeps going up in the next few years.
The meaning of this is unclear. This is largely a mood gauge, as we note when talking about people moving to the suburbs. The expansion of Toronto’s population bodes well for the city’s economy in the long run. However, by simply adding more economic units, aggregate boosts can mask a decline in quality of life. The human capital stock is the proper political term, we apologise for the confusion.
The mass exodus of a community’s residents is a major issue that often goes unnoticed. The opportunity statistics that immigrants rely on are often years behind the actual situation. As a deterioration in opportunities or quality of life takes place, locals will notice it. People in their field are beginning to follow them as they leave for greener pastures. Immigration reform will eventually be implemented in other countries.