Quote:
Originally Posted by DoubleF
Calgary is attempting to diversify from relying completely on Oil and Gas. It's smaller by far, but logistics and finance is growing fast (arguably, many of these companies pop up and can survive due to oil and gas in the first place).
Calgary is supposed to be a logistics hub, airport will expand to be international and finance is expanding rapidly too. Whether this is truth or just an arm of Oil and Gas, I'm not sure, but it's attracting people and seems to be keeping people here when oil and gas slows down.
http://en.wikipedia.org/wiki/Global_..._Centres_Index
Calgary is currently ranked 26th. Look at the other cities that surround us and are below us.
I believe Calgary real estate will continue to grow slowly. 1-3% increase per year due to actual people here to live and not purely due to speculation. I also believe that inner city will continue to gentrify and push suburban development.
I really hope to see Alberta continue to be an energy power in the future by using oil and gas revenues to diversify into renewable energies and research. |
like you originally speculated. Any diversification you see is just a byproduct of oil and gas. Finance, software, hardware, services are all there to service the oil and gas industry. Tech company in Calgary? Sure, it makes products and software for oil and gas. You want real diversity? Sure, if EA Games relocates its main design office to Calgary for game design then that's diversification. If Tesla moves to Calgary that's diversification. If Blackberry gets bought out and moves it's office to Calgary that's diversification. A random software company making software for oil and gas specific companies is not diversification. A waitress at a restaurant serving beer to oil and gas engineers/executives is not diversification. An accountant doing finance for an oil and gas company is not diversification. Calgary is a house of cards. Everything relies on oil and gas. If that ####s the bed the entire economy ####s the bed with it.