Economy
British Columbia has a resource dominated economy, centred on the forestry industry but also with increasing importance in mining. Employment in the resource sector has fallen steadily, and new jobs are mostly in the construction and retail/service sectors. With its film industry known as Hollywood North, the Vancouver region is the third-largest feature film production location in North America, after Los Angeles and New York City.
The economic history of British Columbia is replete with tales of dramatic upswings and downswings, and this boom and bust pattern has influenced the politics, culture and business climate of the province. Economic activity related to mining in particular has widely fluctuated with changes in commodity prices over time, with documented costs to community health.
British Columbia's GDP is the fourth largest in Canada at C$197.93 billion in 2008. GDP per capita stands at C$45,150. British Columbia’s total debt will rise 16% to C$47.8 billion in the 2010-11 fiscal year, or 24.3% of GDP.
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Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)