Canadian firms are losing global market share and missing out on valuable market opportunities around the world. It’s time to address this problem. What are the challenges Canadian businesses must overcome?
Canada’s competitiveness scorecard
Measuring our success on the global stage
Competitiveness is a key dimension of economic prosperity. It’s a multifaceted word, but at its core, competitiveness is about how productive and innovative an economy is and it is key to creating sustainable economic growth.
Global competitiveness is critical, and Canada’s business leaders are taking note. The Business Council of Canada (BCC) surveyed its members in early 2019 and found that 55 percent of business leaders are “very concerned about the competitiveness of Canada’s business environment.” Working with the BCC, Deloitte sought to assess the current state of Canada’s competitiveness relative to peer countries by reviewing more than 500 unique data points across eight dimensions of competitiveness.
Our findings illuminate the areas where Canada excels and where we fall short of our peers; namely, innovation, taxation, and regulation. These findings also identify a number of policies and factors constraining Canada’s economic prosperity. With this inaugural scorecard, we hope to spur the meaningful conversations and action necessary to make improvements in the areas where we lag—and strengthen what makes us great. Explore the results in our first annual scorecard.
See the Full SCORECARD