If you live in Canada and want to know about the profitable industries, this list of 11 most profitable industries in Canada will help you a great deal. Even if you belong to another country and are looking for an opportunity to establish your career in North America, this list will tell you why Canada should be your first choice. Canada has been progressing quite fast and different industries have been flourishing day in and out, offering lucrative investment and job opportunities to the people.
There are different ways to refer to the facts and figures offered by the government authorities. Moreover there are different ways to determine the profitability of industries. From investors’ perspective, high rate of return and low risk may be the factor to determine the profitability of any particular industry. From common man’s perspective, if he’s getting products and services at affordable prices, he would consider that the industry is quite stable.
Government takes into account the contribution of different industries in GDP and offer opportunities to improve its performance. However, there are many other factors that government considers while determining the future of any particular industry.
If you’re a student or a job seeker, you’ll be keen to know which sector offers better salaries and other related perks. This information helps you with choosing the right kind of subjects and fields for specialization in future.
Before you go through the list, it is important to understand the ranking criteria. Moreover, if you want to compare these Canada-based industries with other the ones in America, you can refer to this list of most profitable industries in America.
Insider Monkey looked into two major factors to choose and rank the 11 most profitable industries in Canada. First and foremost, we considered the contribution of each product-based or service-based sector to GDP. We also considered hourly wages and weekly wages paid to the employees. In this context, we also looked into the present trend of each industry before ranking. In order to help you explore different fields within the same industry, we combined closely related niches and analyze them as one industry.
Now let’s get started!