Thunder Bay's Post-pandemic economic recovery
Facebook Twitter
Article Archive


Thunder Bay Post-pandemic

Thunder Bay's Post-pandemic economic recovery is underway in 2021 and  2022;

however, headwinds are abundant moving forward

by Scott A. Sumner

 Maria Vidotto, General Manager of Thunder Bay Ventures, is pleased to  announce the results of the 2022 edition of the Thunder Bay Economic  Activity Index (TBEAI).   Dr. Camillo Lento and Dr. Braham Dadgostar, 

professors in the Faculty of Business Administration at Lakehead  University, presented the results to a group of partners recently. The TBEAI is a unique, customized regional index that considers the  nature of Thunder Bay's economy. The objective of the TBEAI is to  better reflect the reality and dynamic of Thunder Bay's economy and to  help the community stay informed about changes in economic activity.  This year's TBEAI focuses on the following:

·Thunder Bay's GDP and economic activity outlook·    

  The pandemic's economic impact on Thunder Bay relative to the Province,   Trends in employment, retail sales, and real estate,   Inflation, interest rate, and recession outlook

A full report is available online at TBEAI_2022_Final-1.pdf

Some comments from the presenters.Dr. Bahran Dadgostar, LU

“ It was good to see people show up today for our presentation to see  how the economy of Thunder Bay is doing. It seems we are doing not that  bad but with the problem of the pandemic and inflation we may run into  a little bit of trouble, not only us but the rest of the country also.”

"How deep we go to a recession is a question but it seems it shouldn’t  be that bad.If we go into a recession some of the areas will be impacted such as  restaurants, hospitality, travel those type of industries where people  may not have money. One year of higher interest rates, higher for long  term investments like mining for example which is a ten year plan,   won’t stop the process of investing into mining.”

"Unskilled labour might find it a little bit more difficult in a  recession because it is easy to lay them off. For skilled labour it  won’t be too bad.”“Thunder Bay will have an opportunity to attract more people here  because jobs are available and cost of living is lower than many cities  in Canada.Thunder Bay should develop a plan to bring more people here.  We have to go after these people because there are lots of people after  them as well."

"Thunder Bay is not very well known and people need to know what kind  of city it is  and what kind of opportunities are here.Thunder Bay  needs to work together with all entities to attract people. The city  has changes quite a bit since I left 3 years ago to move to Vancouver."

Based on the Conference Board of Canada, 2022 Q2 GDP at Basic Prices  for Thunder Bay ($ 2012) is estimated to be $5.4 billion. Source Dr. 
Camillo Lento.

Click here to view the printer friendly version.
SledNews Snowmobile News
Golfing News
North Superior Publishing
Scott Sumner