British Columbia’s Economy & Business Climate
British Columbia (B.C.) is a natural place to start a business or expand existing operations.
B.C.’s stable, welcoming government has streamlined regulations and a competitive, pro-business tax system that makes it easy to get started and keep growing. Combined with a top-ranked quality of life and a diverse, skilled workforce, B.C. is a prime location for your business.
BC’s Economic Indicators
Find a variety of statistics related to B.C.’s economy, including gross domestic product, consumer price index, household spending and more.
Gross Domestic Product (GDP) by Industry Sector, 2024
A Vibrant Hub for Business Growth
British Columbia offers a competitive business climate, leading in sustainable, high-tech industries like agriculture, mass timber and critical minerals. Home to international brands like Slack, Hootsuite, and Lululemon, Vancouver is a fast-growing low-carbon economy.
B.C. attracts global investment with its business-friendly environment, trade opportunities, high credit ratings and low electricity rates.
Canada has free trade agreements with more than 50 international markets representing nearly two-thirds of global GDP.
A Multicultural Magnet for Top Talent
B.C. boasts a highly skilled workforce, including top scientists and thousands of computer science and engineering graduates annually. Vancouver ranks among the top tech talent markets in North America.
The province has 25 post-secondary institutions, including the University of British Columbia and Simon Fraser University, with 75% of employees in B.C. having a post-secondary education. Immigration programs like the BC Provincial Nominee Program, Global Skills Strategy and intra-company transferees give B.C. companies access to specialized international workers.
Canada’s West Coast Global Gateway
B.C.’s strategic location on North America’s west coast provides quick access to the U.S. market and the shortest shipping distance to Asia. B.C. is home to the Port of Vancouver, Canada’s largest port and the Port of Prince Rupert, North America’s closest port to Asia by up to three days sailing.
The province’s ports, airports, rail lines, and roads ensure connectivity to major markets. Vancouver’s YVR airport offers non-stop service to North America, Europe, and Asia. B.C. has some of the highest rate of broadband and overall internet connectivity in Canada, with 95% of households on high-speed and 98% with 5G coverage.
A Flourishing Innovation Ecosystem
B.C. has a creative and collaborative tech culture, with over 12,000 tech companies, including Microsoft and Electronic Arts. The province benefits from high technology sector growth rates and is a leader in virtual and augmented reality. Starting in 2025, Web Summit Vancouver replaces Collision in Toronto, uniting the innovators shaping the tech industry and reinforcing B.C.’s leadership in global tech and entertainment.
B.C. is home to the Quantum Algorithms Institute and numerous cleantech companies. Unicorn companies (valuations over $1 billion) like AbCellera, Clio, Dapper Labs, Trulioo, GeoComply and Visier were built right here in British Columbia.
Where Rich Natural Resources Meet Next-Generation Technology
B.C.’s natural resources drive its economy, with sustainable practices in forestry, agriculture, mining and natural gas. The province aims to develop a responsible natural gas industry and is at the forefront of the minerals and metals needed for a low-carbon future.
As global demand for minerals and metals needed for transitioning to a low-carbon future increases, B.C. is at the forefront. B.C.’s clean and reliable hydroelectric power, offered at some of the lowest rates in North America helps companies save on costs and reduce environmental impact.
A Leader in Sustainable Development
B.C. partners with businesses, communities, and Indigenous Peoples to create an environmentally, ethically, and economically conscious investment climate.
The province generates 98% of its electricity from clean or renewable resources and has a roadmap to a net-zero future. B.C. protects human rights and Indigenous peoples through progressive laws.
Awe-Inspiring Mountains, Coastline, and Lifestyle
B.C. offers a high quality of life with year-round outdoor activities, a vibrant food and craft beer scene, and a rich arts and cultural environment.
The province is committed to reconciliation with Indigenous peoples and attracts people worldwide with its lifestyle and opportunities.
Whether you prefer a cosmopolitan city, a quiet small town, or something in between, B.C. has something for everyone.
Top Companies in British Columbia
B.C. is home to a diverse range of companies that operate in a variety of sectors. The following sources regularly create and update lists of companies and major employers based in B.C.
Learn more about B.C.
Discover the sector or regional advantages to support your business. Learn more about community engagement and consulting with Indigenous people and First Nations communities in British Columbia.