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Originally Posted by New Era
I have to laugh at those who suggest Calgary is such a great market. It's a one horse town (O&G) and that horse is really long in the tooth and not looking too good right now. Without that influx of dollars, Calgary is Winnipeg with mountains. Unless the O&G sector comes back, there are cities all over the US that could beat Calgary as a market. Better to be second fiddle in major marketplace than first fiddle in a dying marketplace. People seem to forget that revenues are generated in Canadian dollars, but paid out in American dollars. Make the move and you have 25% benefit just in exchange rate.
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Calgary actually had positive net migration last year, despite the pandemic and low price of oil. This surprised me because I personally met many families moving to BC.
I think once a city reaches 1 million the gravity attracts people, no matter what is going on.
https://alis.alberta.ca/occinfo/indu...as-extraction/
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The mining and oil and gas extraction industry employed 135,800 people in 2016. This is a decrease of 19,500 jobs or 12.6% from 2015.
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https://open.alberta.ca/dataset/1098...esentation.pdf
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The oil and gas and mining sector accounts for 16.4 per cent of the province’s Gross Domestic Product (GDP), compared with 23.2 per cent in 1986.
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