Kelownasa国际传媒檚 economic outlook appears to be headed in the right direction thanks to steady population growth over the next few decades.

Thatsa国际传媒檚 according to chief economist for Central 1 Credit Union, Helmut Pastrick, who was in Kelowna on Wednesday for a luncheon to update the Kelowna Chamber of Commerce about the regionsa国际传媒檚 economic landscape.

Pastrick predicted the citysa国际传媒檚 population will grow to 250,000 people within the next 20 to 30 years as Kelowna remains a hot spot for quality of living thanks to the growth of the BC economy.

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sa国际传媒淚tsa国际传媒檚 all immigration coming from other countries, from other provinces and other regions,sa国际传媒� said Pastrick.

sa国际传媒淜elowna is an attractive area with the climate, housing costs relative to other regions and some job growth.sa国际传媒�

Even with the forestry sector in a downturn with Tolko ceasing operations next year, Pastrick believes it wonsa国际传媒檛 have too big of an impact on Kelownasa国际传媒檚 economy in the long term.

sa国际传媒�(Kelownasa国际传媒檚) forestry component has been shrinking for a long time. You have to go back into the 50s and 60s where forestry played a much more material role in the economy. Kelowna was one of those areas where it really transitioned away from forestry sooner than say Kamloops or Prince George.sa国际传媒�

Backing up his claims, he said since 2014 the number of business incorporations in Kelowna has risen from 1,300 to roughly 1,900.

sa国际传媒淚 think it has to do with the fact that many of these businesses reflect the ongoing need to service an expanding population base,sa国际传媒� said Pastrick. sa国际传媒淎nother factor is technological change. Businesses are formed to implement new technological measures.sa国际传媒�

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While Kelowna was recently named the best city for real estate investment in Western Canada, Pastrick said it will be important to address housing affordability in order to remain competitive.

sa国际传媒淎ddressing the housing affordability issue is a big one and you want to be able to attract and keep residents. You want to be able to provide enough infrastructure to make it a desirable place as well. Thatsa国际传媒檚 transportation, health and education and the like. All that comes into play in making an area desirable.sa国际传媒�