BC Business
It's been one year since the pandemic changed almost every aspect of business, work and life. Here's a look at a few of the local impacts of COVID-19.
More than 72,000 B.C. businesses closed their doors between March and October 2020
2/3 of British Columbians say they’re coping well with the pandemic
72,063 – estimated business closures in B.C., March-October 2020
+24.6% YoY
66,484 – estimated launches
+14.3% YoY
B.C.’s top 5 industry winners and losers by employment, December 2019 vs. 2020
Utilities: +55.1%
Agriculture: +14%
Natural resources: +13.7%
Manufacturing: +8.4%
Professional, scientific and technical services: +6.9%
Construction: –11.7%
Information, culture, recreation: –9.2%
Accommodation and food services: –8.5%
Transportation and warehousing: –4.7%
Finance, insurance, real estate, rental and leasing: –3.5%
B.C. workers supported by the federal pandemic wage subsidy in March vs. October 2020: 444,490/247,240
Average monthly payout: $2,039/$807
Domestic and international passengers at YVR, April-November 2020: 2,063,070
-88.6% YoY
Total cargo moving through the airport in that period: 152,770 tonnes
-25.9% YoY
89% of Canadians who have had to work from home found the experience largely positive
At 16%, British Columbians were most likely to describe it as negative
93,953 – B.C. residential unit sales in 2020
+21.5% from 2019
Total value: $73.5 billion (+35.6%)
In an Ipsos survey on 2020 lifestyle changes:
46% of British Columbians said they cut their spending
31% gained weight
24% worked from home
18% drank more
15% lost their job
Overall projected decline in provincial GDP for 2020: –6.2%
$10 billion+ in provincial response measures earmarked by December 2020
Sources: Insights West, Statistics Canada, Canada Revenue Agency, Industry Canada, Vancouver International Airport, Leger, British Columbia Real Estate Association, Ipsos, Government of B.C.