For Immediate Release
May 10, 2018
Scorecard 2018 ranks Greater Vancouver against 19 other metropolitan regions around the globe on economic and social issues and provides analysis on acute challenges facing our region
VANCOUVER, B.C. — The Greater Vancouver Board of Trade released its Greater Vancouver Economic Scorecard 2018 today, which ranks 20 metropolitan regions around the world in 38 different categories.
Building on the seminal work of the inaugural Scorecard 2016, this year's report includes a comprehensive analysis of how the Greater Vancouver region stacks up against 19 of its competitors on a myriad of social and economic indicators.
The other metropolitan regions analyzed in Scorecard 2018 include Toronto, Montreal, Calgary, Halifax, Seattle, Portland, San Francisco, Los Angeles, Houston, Miami, Manchester, Rotterdam, Copenhagen, Barcelona, Seoul, Singapore, Shanghai, Hong Kong, and Sydney.
Overall, Greater Vancouver earns a "B" grade in Scorecard 2018, up two spots from 2016 to rank 7th overall of the 20 regions examined.
"There is good news and bad news for our region in Scorecard 2018," said Iain Black, President and CEO of the Greater Vancouver Board of Trade. "Although the report confirms that our region is generally safe, clean, and boasts a diverse population, there are also some very serious issues in Greater Vancouver that put our competitiveness at risk. What's more, solving those challenges will require a truly holistic, regional approach. It is imperative that we start operating as — and being viewed as — a region, not 23 separate municipalities with individual agendas."
Produced in partnership with The Conference Board of Canada, Scorecard 2018 measures cities on 22 economic indicators such as average income, employment, productivity, tax competitiveness, port container traffic, inbound airplane seats, international tourism, and more.
The report also measures Greater Vancouver's performance on 16 social indicators, including housing affordability, public transit, education, income inequality, climate, air quality, and average commute time.
"The Conference Board of Canada was pleased to partner with the Greater Vancouver Board of Trade once again to produce Scorecard 2018. This report offers a thorough analysis of the region, its strengths and weaknesses, and its opportunities for growth," said Daniel Muzyka, Immediate Past President and CEO of The Conference Board of Canada. "Scorecard 2018 lays out the key challenges facing Greater Vancouver. Now it's up to the region to come together to address those issues and enable future economic success."
Greater Vancouver receives a "B" grade on Economic indicators in Scorecard 2018. We rank 7th of 20 regions measured, up from 9th in 2016.
Greater Vancouver receives a "B" grade on Social indicators in Scorecard 2018. Our region ranks 8th of 20 regions measured, down one spot from 7th in 2016. Five new indicators were added to the Social benchmarks in 2018.
SPECIAL LENS: REGIONAL COORDINATION AND GOVERNANCE
In Scorecard 2018, we added a "Special Lens" that analyzes an important aspect of life and business in Greater Vancouver — regional coordination and governance.
Our challenges with developing our economy, building more extensive public transit, providing affordable housing and addressing land constraints demonstrates the need for improved regional coordination and governance. The report also suggests the need to have a conversation about how Metro Vancouver's board is selected, and the need for a centralized body for economic development and investment promotion.
To download the full report and summary report, an infographic, backgrounders, and more visit boardoftrade.com/scorecard2018.
WHAT OTHERS ARE SAYING ABOUT SCORECARD 2018
"As it is becoming increasingly imperative for our region to collaborate to be able to compete in the global market, the Scorecard 2018 report provides valuable direction for the steps we need to take to compete." – Evi Mustel, Principal, Mustel Group and Chair, 2018 Greater Vancouver Economic Scorecard Committee
"The Scorecard is a foundational piece of work that provides us with an objective 'reality check.' While Scorecard 2018 reveals certain bright spots for the region, there are also areas for focus. Let's challenge ourselves — and all levels of government — to unite and throw our collective weight behind solutions to create an even stronger Greater Vancouver for all." – Lori Mathison, President and CEO, CPABC
"As the old adage says, you can't change what you can't measure. Scorecard 2018 allows us to see how our region measures up and where we can improve. Armed with that information, we can take definitive action to change it." – Kari Yuers, President and CEO, Kryton International Inc.
"The findings of Scorecard 2018 resonate across all sectors of our regional economy. The report specifically highlights tourism and technology as potential bright sectors for Greater Vancouver, while identifying the challenges both sectors face that could hamper their ability to grow. The opportunity for Greater Vancouver is tremendous, and Scorecard 2018 helps identify a set of steps towards a more prosperous future." – Kirsten Sutton, Vice-President and Managing Director, SAP Labs Canada
"As new trade agreements with the Trans-Pacific region and Europe fuel Canada's trade through the Port of Vancouver, our region needs to invest in transportation infrastructure to support trade and minimize the impacts of growth on our environment and communities. Critically, we need to address our regional land planning crisis and protect our scarce remaining industrial land, which is vital to our local prosperity. The Scorecard is an important regional check-up that enables us to track where we're making progress, and where we've stalled, on key challenges and opportunities." – Robin Silvester, President and CEO, Vancouver Fraser Port Authority
"YVR is experiencing record growth thanks to our continued focus on expanding air services around the world, including the Asia-Pacific. Our success stems from our unique business model, which puts the needs of our communities at the forefront of everything we do. As a community based organization, we share this success with the region—creating jobs throughout the province while driving innovation through our constant efforts to improve the airport experience. As our region continues to grow, facing competition from other hubs vying for the same business and talent, we must collectively build a unified and collaborative approach that seeks to lift everyone. The Scorecard identifies opportunities and areas for improvement, and ways we can work together for the benefit of all." – Craig Richmond, President and CEO, Vancouver Airport Authority
About the Greater Vancouver Board of Trade:
Since its inception in 1887, the Greater Vancouver Board of Trade has been recognized as Pacific Canada’s leading business association, engaging members to impact public policy at all levels of government and to succeed and prosper in the global economy. With a Membership whose employees comprise one-third of B.C.’s workforce, we are the largest business association between Victoria and Toronto. We leverage this collective strength, facilitating networking opportunities, and providing professional development through four unique Signature Programs. In addition, we operate one of the largest events programs in the country, providing a platform for national and international thought leaders to enlighten B.C.’s business leaders.