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2022/Jul/28
Architecture Profession Contributes to Canadian Economy
Despite the significant economic disruptions resulting from the COVID-19 pandemic, the architecture profession remains a key contributor to the Canadian economy. According to a recently released Statistics Canada report, “Forging Ahead During the Pandemic: How Selected Service Industries Bounced Back in 2021,” revenue from “architectural services” is shown to have made a strong comeback last year. It is anticipated that revenue for architectural services has risen 15.4%, surpassing pre-pandemic levels by more than 1/10. Much of this growth can be accounted for by residential construction (which hit an all-time high in 2021), as well as business and public investment in non-residential buildings.
On the OAA Website, you can also read a 2018 report by Altus Economic Consulting that confirms economic activity from the architecture industry’s entire footprint in Ontario totaled $128.4 billion, or 14% of the province’s GDP.