Online companies are currently experiencing a boom, especially those focusing on home entertainment, dealing with essential products like groceries, and online gambling. Other industries are struggling to stay afloat. Businesses that can capitalize on such trends are boosting their bottom lines. The video gaming sector is thriving as more people pass the time at home playing video games. Office meetings are being conducted online via video conferencing tools such as Zoom. Which industries and sectors are set to boom?Ĭanadians are spending far longer and spending more online. The financial uncertainty in Canada and worldwide is creating a knock-on effect that stretches well into the next year and beyond. The impact of COVID goes well beyond infection rates and the tragic loss of life. Travel has been curtailed, with many Canadians unable to travel or eat at restaurants. The Covid pandemic has brought the world to a standstill, with many businesses struggling for survival. The mining and manufacturing sectors are robust due to Canada’s wealth of natural resources and make up a large part of exports. Over 75% of Canadians work in the services sector, with the other 25% working in construction, manufacturing and agriculture. The most profitable industries are minerals, the processing of natural resources, and transportation. Canada’s GDP was $1.8 trillion in 2019, making it the tenth-largest economy in the world.
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