Population
Population Growth Rate
Greater Victoria's estimated population growth rate was 1.5% in 2008, the fastest rate since 1993. It was slightly faster than Metro Vancouver's growth rate, marking the second time in the last 4 years that Greater Victoria has grown faster after having slower growth than Metro Vancouver in every other year since 1990.
Over the five-year period from 2003 to 2008, the average Greater Victoria growth rate was 1.0%, lower than both the Metro Vancouver and BC growth rates.
Population growth is a good indicator of economic health because people often move in search of superior employment opportunities.
It also indicates a region's desirability as a place to live for retirees and others not primarily motivated by job prospects.
|
Population Growth Rate |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
Average Growth |
|
BC |
0.6% |
0.8% |
1.0% |
1.1% |
1.6% |
1.7% |
1.2% |
|
Greater Victoria |
0.8% |
0.7% |
1.3% |
0.9% |
0.7% |
1.5% |
1.0% |
|
Metro Vancouver |
0.8% |
0.8% |
1.2% |
1.2% |
1.7% |
1.5% |
1.3% |
|
Greater Victoria Population |
330,751 |
333,056 |
337,289 |
340,489 |
342,903 |
348,151 |
3,480 |
| Source: BC Stats Population Estimates, for July 1st each year | |||||||
Projected Population Growth
Greater Victoria's population is projected to grow by 4-5% every 5 years between 2010 and 2025. After this point, the population growth rate is projected to gradually decline.
Both the province as a whole and Metro Vancouver are projected to have higher growth rates than Greater Victoria.
Population projections reflect, in part, projections about the rate of economic growth in an area. They are useful for various planning and market analysis purposes.
Forecasts tend to lose accuracy the further out they are. As a result, projected populations in the next 1-2 periods are expected to be more reliable than for later periods.
|
5 Year Growth Rates |
2000-2005 |
2005-2010 |
2010-2015 |
2015-2020 |
2020-2025 |
2025-2030 |
2030-2035 |
|
BC |
3.9% |
7.4% |
7.0% |
6.9% |
6.2% |
5.3% |
4.5% |
|
Greater Victoria |
4.1% |
5.2% |
4.9% |
5.0% |
4.5% |
3.6% |
2.8% |
|
Metro Vancouver |
5.6% |
8.3% |
8.6% |
8.3% |
7.3% |
6.2% |
5.3% |
| Source: BC Statistics Population Projections | |||||||