Economy
British Columbia has a resource dominated economy, centred on the forestry industry but also with increasing importance in mining. Employment in the resource sector has fallen steadily, and new jobs are mostly in the construction and retail/service sectors. With its film industry known as Hollywood North, the Vancouver region is the third-largest feature film production location in North America, after Los Angeles and New York City.
The economic history of British Columbia is replete with tales of dramatic upswings and downswings, and this boom and bust pattern has influenced the politics, culture and business climate of the province. Economic activity related to mining in particular has widely fluctuated with changes in commodity prices over time, with documented costs to community health.
British Columbia's GDP is the fourth largest in Canada at C$197.93 billion in 2008. GDP per capita stands at C$45,150. British Columbia’s total debt will rise 16% to C$47.8 billion in the 2010-11 fiscal year, or 24.3% of GDP.
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Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)